Frontline plc (NYSE:FRO) Shares Bought by Deutsche Bank AG

Deutsche Bank AG grew its holdings in shares of Frontline plc (NYSE:FRO - Free Report) by 15.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 334,343 shares of the shipping company's stock after buying an additional 44,626 shares during the quarter. Deutsche Bank AG owned 0.15% of Frontline worth $4,744,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Jones Financial Companies Lllp purchased a new position in shares of Frontline in the fourth quarter valued at $31,000. Golden State Wealth Management LLC purchased a new position in shares of Frontline in the fourth quarter valued at $84,000. National Bank of Canada FI boosted its stake in shares of Frontline by 331.8% in the fourth quarter. National Bank of Canada FI now owns 6,166 shares of the shipping company's stock valued at $87,000 after purchasing an additional 4,738 shares during the period. Blue Trust Inc. boosted its stake in shares of Frontline by 84.4% in the fourth quarter. Blue Trust Inc. now owns 8,921 shares of the shipping company's stock valued at $127,000 after purchasing an additional 4,084 shares during the period. Finally, Nexpoint Asset Management L.P. purchased a new position in shares of Frontline in the fourth quarter valued at $159,000. 22.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Frontline Stock Down 3.0%

NYSE FRO traded down $0.53 during trading hours on Thursday, reaching $17.17. 2,758,436 shares of the company traded hands, compared to its average volume of 2,468,566. Frontline plc has a 12 month low of $12.40 and a 12 month high of $29.39. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $3.82 billion, a PE ratio of 7.01 and a beta of 0.24. The company has a 50 day moving average of $15.97 and a two-hundred day moving average of $16.41.

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

Frontline Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.66%. Frontline's dividend payout ratio (DPR) is 36.04%.

Frontline Company 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.