Deutsche Bank AG Purchases 44,626 Shares of Frontline plc (NYSE:FRO)

Deutsche Bank AG grew its holdings in Frontline plc (NYSE:FRO - Free Report) by 15.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 334,343 shares of the shipping company's stock after acquiring an additional 44,626 shares during the quarter. Deutsche Bank AG owned 0.15% of Frontline worth $4,744,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in shares of Frontline in the fourth quarter valued at about $31,000. Golden State Wealth Management LLC bought a new stake in Frontline during the fourth quarter worth about $84,000. National Bank of Canada FI lifted its position in Frontline by 331.8% during the fourth quarter. National Bank of Canada FI now owns 6,166 shares of the shipping company's stock worth $87,000 after purchasing an additional 4,738 shares during the period. Blue Trust Inc. lifted its position in Frontline by 84.4% during the fourth quarter. Blue Trust Inc. now owns 8,921 shares of the shipping company's stock worth $127,000 after purchasing an additional 4,084 shares during the period. Finally, Nexpoint Asset Management L.P. bought a new stake in Frontline during the fourth quarter worth about $159,000. Institutional investors own 22.70% of the company's stock.

Analyst Ratings Changes

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

Frontline Trading Up 6.9%

Shares of Frontline stock traded up $1.18 on Friday, hitting $18.36. The stock had a trading volume of 4,698,357 shares, compared to its average volume of 2,490,521. The stock has a 50 day moving average of $16.05 and a 200 day moving average of $16.37. Frontline plc has a twelve month low of $12.40 and a twelve month high of $29.39. 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 $4.09 billion, a P/E ratio of 7.49 and a beta of 0.24.

Frontline (NYSE:FRO - Get Free Report) last released its earnings results on Friday, May 23rd. The shipping company reported $0.18 earnings per share for the quarter, meeting analysts' consensus estimates of $0.18. The business had revenue of $427.87 million during the quarter, compared to the consensus estimate of $252.26 million. Frontline had a net margin of 25.64% and a return on equity of 19.25%. The company's revenue for the quarter was down 26.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. Sell-side analysts expect that Frontline plc will post 1.78 earnings per share for the current fiscal year.

Frontline Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend was Friday, March 14th. Frontline's dividend payout ratio is presently 36.04%.

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.