Novak & Powell Financial Services Inc. Grows Holdings in SFL Co. Ltd. (NYSE:SFL)

Novak & Powell Financial Services Inc. grew its position in shares of SFL Co. Ltd. (NYSE:SFL) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,281 shares of the shipping company’s stock after purchasing an additional 1,996 shares during the period. Novak & Powell Financial Services Inc.’s holdings in SFL were worth $422,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SFL. Barclays PLC boosted its position in SFL by 239.3% during the third quarter. Barclays PLC now owns 168,908 shares of the shipping company’s stock worth $1,954,000 after acquiring an additional 119,131 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of SFL by 25.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 57,899 shares of the shipping company’s stock worth $592,000 after purchasing an additional 11,909 shares during the period. SG Americas Securities LLC boosted its holdings in shares of SFL by 75.7% during the fourth quarter. SG Americas Securities LLC now owns 51,749 shares of the shipping company’s stock worth $529,000 after purchasing an additional 22,294 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of SFL by 8.2% during the fourth quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company’s stock worth $198,000 after purchasing an additional 1,474 shares during the last quarter. Finally, Impact Partnership Wealth LLC purchased a new stake in shares of SFL in the fourth quarter valued at $119,000. 28.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded SFL from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th.

SFL Price Performance

SFL opened at $8.68 on Wednesday. The company’s 50 day simple moving average is $8.08 and its 200 day simple moving average is $9.45. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.50 and a current ratio of 0.38. SFL Co. Ltd. has a 1 year low of $6.78 and a 1 year high of $14.62. The stock has a market capitalization of $1.26 billion, a PE ratio of 8.59 and a beta of 0.47.

SFL (NYSE:SFL) last posted its quarterly earnings results on Wednesday, May 14th. The shipping company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $186.74 million for the quarter, compared to the consensus estimate of $183.82 million. SFL had a net margin of 14.45% and a return on equity of 12.41%. SFL’s revenue was down 18.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share.

SFL Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 12.44%. The ex-dividend date of this dividend is Thursday, June 12th. SFL’s dividend payout ratio (DPR) is currently 263.41%.

About SFL

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.