Dynamic Technology Lab Private Ltd Acquires Shares of 24,099 Frontline plc (NYSE:FRO)

Dynamic Technology Lab Private Ltd bought a new stake in Frontline plc (NYSE:FRO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 24,099 shares of the shipping company's stock, valued at approximately $342,000.

A number of other institutional investors also recently added to or reduced their stakes in FRO. Charles Schwab Investment Management Inc. increased its position in shares of Frontline by 65.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 71,972 shares of the shipping company's stock valued at $1,021,000 after purchasing an additional 28,478 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Frontline in the fourth quarter valued at $341,000. Private Advisor Group LLC raised its stake in Frontline by 164.0% in the fourth quarter. Private Advisor Group LLC now owns 28,053 shares of the shipping company's stock valued at $398,000 after buying an additional 17,428 shares in the last quarter. Range Financial Group LLC acquired a new stake in Frontline in the fourth quarter valued at $579,000. Finally, Tejara Capital Ltd purchased a new stake in Frontline during the 4th quarter worth about $633,000. Hedge funds and other institutional investors own 22.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on FRO shares. Jefferies Financial Group dropped their price objective on Frontline from $26.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, December 17th. Kepler Capital Markets set a $12.49 price objective on shares of Frontline in a report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.62.

Frontline Stock Performance

NYSE:FRO traded down $0.37 during mid-day trading on Tuesday, reaching $14.62. 658,380 shares of the stock were exchanged, compared to its average volume of 2,351,816. The stock has a market capitalization of $3.25 billion, a P/E ratio of 5.96 and a beta of 0.20. Frontline plc has a 1 year low of $12.40 and a 1 year high of $29.39. The company has a 50 day simple moving average of $15.86 and a 200-day simple moving average of $17.35. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.44.

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

Frontline Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 5.47%. Frontline's dividend payout ratio (DPR) is currently 36.04%.

Frontline 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.