SG Americas Securities LLC grew its holdings in shares of Frontline PLC (NYSE:FRO - Free Report) by 607.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 234,429 shares of the shipping company's stock after buying an additional 201,308 shares during the quarter. SG Americas Securities LLC owned 0.11% of Frontline worth $3,481,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in FRO. Jones Financial Companies Lllp acquired a new stake in Frontline in the fourth quarter valued at $31,000. National Bank of Canada FI increased its position in shares of Frontline by 331.8% in the 4th 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 last quarter. Nexpoint Asset Management L.P. bought a new stake in shares of Frontline in the 4th quarter worth about $159,000. Tower Research Capital LLC TRC raised its stake in shares of Frontline by 5,500.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,200 shares of the shipping company's stock valued at $159,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new position in shares of Frontline during the fourth quarter worth about $173,000. Institutional investors and hedge funds own 22.70% of the company's stock.
Analyst Ratings Changes
A number of research firms recently commented on FRO. Kepler Capital Markets set a $12.49 price target on Frontline in a research note on Thursday, March 27th. Evercore ISI reduced their target price on Frontline from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.62.
Read Our Latest Report on FRO
Frontline Stock Performance
Shares of NYSE:FRO traded up $0.89 on Tuesday, reaching $19.78. 4,212,254 shares of the company's stock were exchanged, compared to its average volume of 2,599,619. The business's 50-day moving average is $17.16 and its two-hundred day moving average is $16.30. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.44. Frontline PLC has a fifty-two week low of $12.40 and a fifty-two week high of $26.53. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 12.68 and a beta of 0.28.
Frontline (NYSE:FRO - Get Free Report) last released its quarterly earnings data on Friday, May 23rd. The shipping company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $427.87 million for the quarter, compared to analyst estimates of $252.26 million. Frontline had a net margin of 17.67% and a return on equity of 12.67%. Frontline's quarterly revenue was down 26.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. As a group, equities research analysts forecast that Frontline PLC will post 1.78 EPS for the current year.
Frontline Announces Dividend
The business also recently announced a dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 13th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a yield of 3.97%. Frontline's dividend payout ratio is presently 46.15%.
Frontline Profile
(
Free Report)
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.
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