Frontline (NYSE:FRO) Stock Price Crosses Above 200-Day Moving Average - Time to Sell?

Frontline PLC (NYSE:FRO - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.39 and traded as high as $19.64. Frontline shares last traded at $18.59, with a volume of 6,600,865 shares trading hands.

Analysts Set New Price Targets

FRO has been the subject of a number of research reports. Evercore ISI decreased their price target on Frontline from $22.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Kepler Capital Markets set a $12.49 target price on Frontline in a research note on Thursday, March 27th. Two equities 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $20.62.

Frontline Trading Up 0.9%

The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.82 and a current ratio of 1.82. The firm has a market capitalization of $3.94 billion, a P/E ratio of 11.34 and a beta of 0.28. The firm has a 50 day moving average price of $17.58 and a two-hundred day moving average price of $16.39.

Frontline (NYSE:FRO - Get Free Report) last issued its quarterly earnings results on Friday, May 23rd. The shipping company reported $0.18 earnings per share for the quarter, hitting analysts' consensus estimates of $0.18. Frontline had a return on equity of 12.67% and a net margin of 17.67%. The firm had revenue of $427.87 million for the quarter, compared to analysts' expectations of $252.26 million. During the same quarter last year, the business posted $0.62 EPS. Frontline's revenue was down 26.0% on a year-over-year basis. On average, equities research analysts expect that Frontline PLC will post 1.78 EPS for the current fiscal year.

Frontline Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, June 24th. Investors of record on Friday, June 13th were paid a $0.18 dividend. This represents a yield of 3.97%. The ex-dividend date was Thursday, June 12th. Frontline's dividend payout ratio is 46.15%.

Hedge Funds Weigh In On Frontline

Several institutional investors and hedge funds have recently added to or reduced their stakes in FRO. Jones Financial Companies Lllp acquired a new stake in shares of Frontline in the fourth quarter worth $31,000. SVB Wealth LLC acquired a new stake in Frontline during the 1st quarter worth about $32,000. Bayforest Capital Ltd purchased a new position in Frontline during the 1st quarter valued at about $34,000. Signaturefd LLC increased its holdings in shares of Frontline by 59.3% in the 1st quarter. Signaturefd LLC now owns 2,657 shares of the shipping company's stock valued at $39,000 after purchasing an additional 989 shares during the period. Finally, National Bank of Canada FI lifted its position 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 worth $87,000 after purchasing an additional 4,738 shares in the last quarter. 22.70% of the stock is currently owned by hedge funds and other institutional investors.

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.