Traders Purchase Large Volume of Frontline Call Options (NYSE:FRO)

Frontline plc (NYSE:FRO - Get Free Report) saw some unusual options trading activity on Friday. Traders bought 17,198 call options on the company. This is an increase of 270% compared to the average daily volume of 4,644 call options.

Analyst Upgrades and Downgrades

FRO has been the topic of a number of recent analyst reports. Kepler Capital Markets set a $12.49 price target on shares of Frontline in a report on Thursday, March 27th. Evercore ISI reduced 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. Two investment analysts have rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.62.

Frontline Stock Up 1.4 %

FRO stock traded up $0.24 during midday trading on Wednesday, reaching $16.97. The company had a trading volume of 1,769,639 shares, compared to its average volume of 2,383,349. The company has a 50 day moving average of $15.43 and a two-hundred day moving average of $16.73. The company has a market capitalization of $3.78 billion, a P/E ratio of 6.93 and a beta of 0.20. Frontline has a 1 year low of $12.40 and a 1 year high of $29.39. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.44.

Frontline (NYSE:FRO - Get Free Report) last issued its earnings results on Friday, February 28th. The shipping company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. Frontline had a return on equity of 19.25% and a net margin of 25.64%. The company had revenue of $425.60 million for the quarter, compared to analyst estimates of $273.16 million. During the same period in the prior year, the firm posted $0.46 EPS. The business's revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that Frontline will post 1.78 earnings per share for the current fiscal year.

Frontline Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.71%. Frontline's dividend payout ratio is currently 36.04%.

Institutional Investors Weigh In On Frontline

Large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp acquired a new stake in shares of Frontline in the fourth quarter worth about $31,000. Golden State Wealth Management LLC bought a new stake in Frontline during the fourth quarter worth approximately $84,000. National Bank of Canada FI raised 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 valued at $87,000 after purchasing an additional 4,738 shares during the period. Blue Trust Inc. raised its position in shares of Frontline by 84.4% in the fourth quarter. Blue Trust Inc. now owns 8,921 shares of the shipping company's stock valued at $127,000 after purchasing an additional 4,084 shares during the period. Finally, Nexpoint Asset Management L.P. bought a new stake in shares of Frontline during the 4th quarter worth $159,000. 22.70% of the stock is currently owned by 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.