Burney Co. Purchases New Position in SFL Corporation Ltd. $SFL

Burney Co. acquired a new position in shares of SFL Corporation Ltd. (NYSE:SFL) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 81,508 shares of the shipping company’s stock, valued at approximately $879,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its position in SFL by 789.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company’s stock valued at $28,000 after buying an additional 2,944 shares in the last quarter. Triumph Capital Management acquired a new position in shares of SFL during the third quarter worth $32,000. Signaturefd LLC increased its holdings in shares of SFL by 30.5% during the fourth quarter. Signaturefd LLC now owns 6,008 shares of the shipping company’s stock worth $47,000 after buying an additional 1,405 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of SFL during the fourth quarter worth $47,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of SFL by 122.3% in the 4th quarter. Quadrant Capital Group LLC now owns 6,139 shares of the shipping company’s stock valued at $48,000 after acquiring an additional 3,377 shares during the last quarter. Institutional investors own 28.59% of the company’s stock.

Wall Street Analysts Forecast Growth

SFL has been the topic of several recent research reports. Wall Street Zen raised SFL from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings upgraded SFL from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Finally, BTIG Research lifted their price target on SFL from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, SFL presently has an average rating of “Moderate Buy” and an average price target of $14.00.

SFL Price Performance

Shares of SFL opened at $10.78 on Friday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 44.90 and a beta of 0.44. SFL Corporation Ltd. has a 1 year low of $6.73 and a 1 year high of $12.94. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.32 and a quick ratio of 0.32. The business has a 50-day moving average of $11.41 and a 200-day moving average of $10.34.

SFL (NYSE:SFL) last announced its earnings results on Tuesday, May 12th. The shipping company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.07 by $0.13. The company had revenue of $174.48 million for the quarter, compared to analyst estimates of $170.77 million. SFL had a return on equity of 0.26% and a net margin of 4.37%.The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.24) EPS.

SFL Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were given a dividend of $0.22 per share. This is a boost from SFL’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 8.2%. SFL’s payout ratio is currently 366.67%.

SFL Profile

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.