The Manufacturers Life Insurance Company purchased a new position in Frontline PLC (NYSE:FRO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 361,628 shares of the shipping company's stock, valued at approximately $12,581,000. The Manufacturers Life Insurance Company owned approximately 0.16% of Frontline at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Frontline by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,903,785 shares of the shipping company's stock worth $129,966,000 after purchasing an additional 63,432 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Frontline by 4,659.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,783,681 shares of the shipping company's stock worth $202,080,000 after purchasing an additional 5,662,172 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in Frontline by 44.0% during the third quarter. Balyasny Asset Management L.P. now owns 2,247,120 shares of the shipping company's stock valued at $51,212,000 after purchasing an additional 686,212 shares during the last quarter. BlackRock Inc. bought a new stake in Frontline during the second quarter worth approximately $50,846,000. Finally, UBS Group AG boosted its holdings in Frontline by 18.2% during the fourth quarter. UBS Group AG now owns 1,411,265 shares of the shipping company's stock worth $30,794,000 after buying an additional 217,760 shares in the last quarter. 22.70% of the stock is owned by institutional investors and hedge funds.
Frontline News Roundup
Here are the key news stories impacting Frontline this week:
- Positive Sentiment: Record Q2 results: Frontline reported adjusted EPS of $2.96, exceeding the $2.74 analyst consensus, while revenue reached $943.3 million versus expectations of $758.85 million. Profit rose to a record $659 million, and revenue increased 96.5% year over year, reflecting sharply higher tanker rates amid geopolitical disruptions and tight vessel availability. Frontline’s Profit Hits Record $659 Million as Geopolitical Risks Impact Tanker Rates
- Positive Sentiment: Dividend increased: Frontline declared a quarterly dividend of $2.61 per share, up 68.4% from $1.55 previously. The payout is payable September 28 to investors of record September 18, implying an annualized dividend of approximately $10.44 per share and a reported yield of 23.7%. The larger distribution strengthens the stock’s income appeal, although shipping dividends can vary with freight-market conditions.
- Positive Sentiment: Analyst sentiment improved: Wall Street Zen upgraded Frontline to “Strong Buy,” potentially adding momentum after the company’s earnings and dividend announcements. Frontline Upgraded to Strong-Buy at Wall Street Zen
- Neutral Sentiment: Unusually heavy call activity: Traders purchased 14,816 call options, about 154% above typical daily call volume. This suggests increased bullish speculation, but options activity is not a guarantee of sustained share-price gains.
- Neutral Sentiment: Market-cycle exposure: Frontline’s results are benefiting from an “extraordinary” tanker market and geopolitical risks. Those factors support near-term earnings but may be volatile or reverse, creating longer-term uncertainty for investors.
Analyst Ratings Changes
FRO has been the topic of several recent research reports. Wall Street Zen upgraded shares of Frontline from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Pareto Securities downgraded Frontline from a "buy" rating to a "hold" rating and set a $39.46 price objective for the company. in a research report on Monday, May 25th. Danske lowered Frontline from a "hold" rating to a "sell" rating in a research note on Friday, August 21st. BTIG Research lifted their target price on Frontline from $45.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, June 24th. Finally, Weiss Ratings lowered Frontline from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Frontline has an average rating of "Hold" and an average price target of $41.62.
Get Our Latest Research Report on FRO
Frontline Stock Performance
Shares of FRO opened at $44.02 on Friday. Frontline PLC has a one year low of $20.31 and a one year high of $45.29. The company has a 50-day moving average of $39.32 and a two-hundred day moving average of $36.77. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 10.84 and a beta of 0.02. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 2.03.
Frontline (NYSE:FRO - Get Free Report) last released its quarterly earnings results on Friday, August 28th. The shipping company reported $2.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.74 by $0.22. Frontline had a net margin of 36.70% and a return on equity of 27.80%. The business had revenue of $943.30 million for the quarter, compared to analyst estimates of $758.85 million. During the same quarter in the previous year, the business earned $0.36 earnings per share. The firm's revenue was up 96.5% compared to the same quarter last year.
Frontline Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Friday, September 18th will be given a dividend of $2.61 per share. This represents a $10.44 annualized dividend and a yield of 23.7%. The ex-dividend date is Friday, September 18th. This is a positive change from Frontline's previous quarterly dividend of $1.55. Frontline's dividend payout ratio is presently 152.71%.
About Frontline
(
Free Report)
Frontline Ltd. NYSE: FRO is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company's core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.
Frontline's fleet is geared toward high-capacity, ocean-going tankers capable of carrying large volumes of crude oil over intercontinental distances.
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