Frontline plc (NYSE:FRO) Shares Acquired by Mariner LLC

Mariner LLC grew its holdings in Frontline plc (NYSE:FRO - Free Report) by 19.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 174,917 shares of the shipping company's stock after buying an additional 29,049 shares during the period. Mariner LLC owned 0.08% of Frontline worth $2,482,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of FRO. Charles Schwab Investment Management Inc. boosted its holdings in Frontline by 65.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 71,972 shares of the shipping company's stock valued at $1,021,000 after purchasing an additional 28,478 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Frontline during the 4th quarter valued at approximately $341,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Frontline during the 4th quarter valued at approximately $342,000. Private Advisor Group LLC raised its position in shares of Frontline by 164.0% during the 4th quarter. Private Advisor Group LLC now owns 28,053 shares of the shipping company's stock valued at $398,000 after buying an additional 17,428 shares during the period. Finally, Range Financial Group LLC purchased a new stake in shares of Frontline during the 4th quarter valued at approximately $579,000. 22.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on FRO shares. Evercore ISI reduced their price target on shares of Frontline from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Kepler Capital Markets set a $12.49 price target on shares of Frontline in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.62.

Frontline Trading Down 1.6 %

NYSE FRO traded down $0.26 on Monday, reaching $16.30. The stock had a trading volume of 1,919,583 shares, compared to its average volume of 2,383,664. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 6.65 and a beta of 0.20. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.44. Frontline plc has a 12-month low of $12.40 and a 12-month high of $29.39. The stock has a fifty day moving average price of $15.43 and a two-hundred day moving average price of $16.73.

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

Frontline Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 4.91%. Frontline's dividend payout ratio (DPR) is 36.04%.

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.