Caption Management LLC Buys Shares of 18,057 Frontline plc (NYSE:FRO)

Caption Management LLC acquired a new stake in Frontline plc (NYSE:FRO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,057 shares of the shipping company's stock, valued at approximately $256,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FRO. IHT Wealth Management LLC boosted its holdings in Frontline by 5.2% during the 4th quarter. IHT Wealth Management LLC now owns 16,542 shares of the shipping company's stock worth $235,000 after acquiring an additional 819 shares during the last quarter. Swiss National Bank boosted its holdings in Frontline by 0.6% during the fourth quarter. Swiss National Bank now owns 286,612 shares of the shipping company's stock worth $3,953,000 after purchasing an additional 1,845 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in Frontline in the 4th quarter valued at about $31,000. Pictet Asset Management Holding SA lifted its holdings in Frontline by 13.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 19,900 shares of the shipping company's stock worth $274,000 after acquiring an additional 2,313 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Frontline by 0.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 530,046 shares of the shipping company's stock worth $7,526,000 after purchasing an additional 2,576 shares during the period. Institutional investors and hedge funds own 22.70% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Evercore ISI reduced their price target on Frontline from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Kepler Capital Markets set a $12.49 price target on shares of Frontline in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $20.62.

Frontline Stock Performance

Shares of FRO stock traded up $0.16 during mid-day trading on Monday, reaching $17.51. 2,014,426 shares of the company's stock traded hands, compared to its average volume of 2,443,180. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $3.90 billion, a PE ratio of 7.14 and a beta of 0.24. Frontline plc has a 12 month low of $12.40 and a 12 month high of $29.39. The firm has a 50 day moving average price of $15.61 and a two-hundred day moving average price of $16.45.

Frontline (NYSE:FRO - Get Free Report) last issued its earnings results on Friday, February 28th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The company had revenue of $425.60 million for the quarter, compared to the consensus estimate of $273.16 million. Frontline had a return on equity of 19.25% and a net margin of 25.64%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.46 EPS. On average, research analysts forecast that Frontline plc will post 1.78 EPS for the current year.

Frontline Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend was Friday, March 14th. Frontline's dividend payout ratio is currently 36.04%.

Frontline Company Profile

Frontline plc, a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2022, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Limassol, Cyprus.