22,000 Shares in Frontline plc (NYSE:FRO) Bought by Wexford Capital LP

Wexford Capital LP acquired a new position in shares of Frontline plc (NYSE:FRO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,000 shares of the shipping company's stock, valued at approximately $312,000.

Several other large investors also recently made changes to their positions in FRO. Clear Harbor Asset Management LLC acquired a new stake in shares of Frontline in the 4th quarter valued at approximately $214,000. SG Americas Securities LLC boosted its holdings in shares of Frontline by 148.3% in the 4th quarter. SG Americas Securities LLC now owns 33,121 shares of the shipping company's stock valued at $470,000 after buying an additional 19,783 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Frontline by 84.4% in the 4th quarter. Blue Trust Inc. now owns 8,921 shares of the shipping company's stock valued at $127,000 after buying an additional 4,084 shares during the last quarter. Svenska Handelsbanken AB publ acquired a new stake in shares of Frontline in the 4th quarter valued at approximately $415,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Frontline in the 4th quarter valued at approximately $84,000. Institutional investors and hedge funds own 22.70% of the company's stock.

Frontline Stock Performance

NYSE FRO traded up $1.18 on Friday, reaching $18.36. The stock had a trading volume of 4,698,357 shares, compared to its average volume of 2,490,521. 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 firm has a fifty day moving average of $16.05 and a two-hundred day moving average of $16.37. Frontline plc has a 1-year low of $12.40 and a 1-year high of $29.39. The company has a market cap 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 firm had revenue of $427.87 million during the quarter, compared to the consensus estimate of $252.26 million. Frontline had a return on equity of 19.25% and a net margin of 25.64%. The company's revenue was down 26.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 EPS. On average, equities research analysts anticipate that Frontline plc will post 1.78 EPS for the current year.

Frontline Cuts Dividend

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

Analysts Set New Price Targets

FRO has been the topic of a number of recent analyst reports. Evercore ISI decreased 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. Kepler Capital Markets set a $12.49 target price on Frontline in a report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $20.62.

Frontline 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.