Frontline plc (NYSE:FRO) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Frontline plc (NYSE:FRO - Free Report) by 69.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 164,856 shares of the shipping company's stock after acquiring an additional 67,445 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.07% of Frontline worth $2,339,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FRO. Vident Advisory LLC increased its position in Frontline by 62.7% during the fourth quarter. Vident Advisory LLC now owns 28,503 shares of the shipping company's stock worth $404,000 after purchasing an additional 10,982 shares during the last quarter. Wexford Capital LP purchased a new position in shares of Frontline in the 4th quarter worth $312,000. Point72 Asset Management L.P. acquired a new position in Frontline in the fourth quarter valued at $2,134,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Frontline by 8.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 730,979 shares of the shipping company's stock valued at $10,355,000 after acquiring an additional 58,386 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new stake in Frontline during the fourth quarter worth about $425,000. Hedge funds and other institutional investors own 22.70% of the company's stock.

Frontline Stock Up 0.4%

FRO traded up $0.06 during trading on Tuesday, hitting $17.54. The company had a trading volume of 2,132,371 shares, compared to its average volume of 2,533,136. Frontline plc has a 1-year low of $12.40 and a 1-year high of $26.53. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market cap of $3.91 billion, a PE ratio of 7.16 and a beta of 0.28. The business has a 50-day moving average of $16.62 and a 200-day moving average of $16.24.

Frontline (NYSE:FRO - Get Free Report) last issued its earnings results on Friday, May 23rd. The shipping company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.18. The business had revenue of $427.87 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 EPS. As a group, analysts forecast that Frontline plc will post 1.78 earnings per share for the current year.

Frontline Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Friday, June 13th will be issued a $0.18 dividend. This represents a yield of 3.97%. The ex-dividend date of this dividend is Thursday, June 12th. Frontline's dividend payout ratio is presently 46.15%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Evercore ISI decreased their target price on Frontline from $22.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Kepler Capital Markets set a $12.49 price objective on shares of Frontline in a research note on Thursday, March 27th. Two 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $20.62.

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.