Carolina Wealth Advisors LLC lifted its stake in shares of Frontline PLC (NYSE:FRO - Free Report) by 1,008.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,573 shares of the shipping company's stock after purchasing an additional 78,765 shares during the period. Frontline comprises 1.2% of Carolina Wealth Advisors LLC's investment portfolio, making the stock its 23rd biggest position. Carolina Wealth Advisors LLC's holdings in Frontline were worth $3,012,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Frontline in the 4th quarter worth about $25,000. Assetmark Inc. lifted its position in shares of Frontline by 278.6% in the first quarter. Assetmark Inc. now owns 973 shares of the shipping company's stock valued at $34,000 after acquiring an additional 716 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Frontline in the third quarter valued at approximately $41,000. Parallel Advisors LLC boosted its stake in shares of Frontline by 58.9% in the first quarter. Parallel Advisors LLC now owns 1,311 shares of the shipping company's stock worth $46,000 after acquiring an additional 486 shares during the last quarter. Finally, NFSG Corp increased its position in shares of Frontline by 50.0% during the first quarter. NFSG Corp now owns 1,500 shares of the shipping company's stock worth $52,000 after purchasing an additional 500 shares in the last quarter. 22.70% of the stock is owned by hedge funds and other institutional investors.
Frontline Stock Down 3.3%
FRO stock opened at $38.44 on Tuesday. The firm has a market cap of $8.56 billion, a PE ratio of 9.47 and a beta of 0.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.03 and a current ratio of 2.03. The firm's 50 day moving average price is $37.88 and its 200-day moving average price is $35.38. Frontline PLC has a one year low of $18.26 and a one year high of $43.10.
Frontline Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 12th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 16.1%. This is a boost from Frontline's previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, June 12th. Frontline's payout ratio is 152.71%.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. Danske lowered Frontline to a "hold" rating in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Frontline from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 27th. Evercore downgraded shares of Frontline from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 21st. Weiss Ratings raised shares of Frontline from a "hold (c+)" rating to a "buy (b)" rating in a research note on Friday, May 22nd. Finally, Pareto Securities downgraded shares of Frontline from a "buy" rating to a "hold" rating and set a $39.46 price objective for the company. in a report on Monday, May 25th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Frontline currently has a consensus rating of "Hold" and an average price target of $41.62.
Read Our Latest Stock Report on FRO
Frontline Profile
(
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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