Aquatic Capital Management LLC Invests $457,000 in Frontline plc (NYSE:FRO)

Aquatic Capital Management LLC purchased a new position in Frontline plc (NYSE:FRO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,225 shares of the shipping company's stock, valued at approximately $457,000.

A number of other institutional investors have also added to or reduced their stakes in FRO. Charles Schwab Investment Management Inc. boosted its holdings in Frontline by 65.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 71,972 shares of the shipping company's stock worth $1,021,000 after acquiring an additional 28,478 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Frontline during the 4th quarter valued at about $341,000. Dynamic Technology Lab Private Ltd purchased a new position in Frontline in the fourth quarter worth about $342,000. Private Advisor Group LLC lifted its stake in shares of Frontline by 164.0% in the fourth quarter. Private Advisor Group LLC now owns 28,053 shares of the shipping company's stock worth $398,000 after buying an additional 17,428 shares in the last quarter. Finally, Range Financial Group LLC bought a new position in shares of Frontline in the fourth quarter worth approximately $579,000. Institutional investors own 22.70% of the company's stock.

Frontline Stock Performance

NYSE FRO traded up $0.11 on Thursday, reaching $17.27. 1,052,032 shares of the stock were exchanged, compared to its average volume of 2,435,529. The firm has a market capitalization of $3.84 billion, a PE ratio of 7.05 and a beta of 0.24. Frontline plc has a one year low of $12.40 and a one year high of $29.39. The company's 50-day simple moving average is $15.58 and its two-hundred day simple moving average is $16.56. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.44.

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

Frontline Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued 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 4.63%. Frontline's payout ratio is currently 36.04%.

Analyst Upgrades and Downgrades

FRO has been the topic of a number of research analyst reports. Kepler Capital Markets set a $12.49 price target on Frontline in a report on Thursday, March 27th. Evercore ISI dropped their price target on shares of Frontline from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.62.

About Frontline

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.