Jefferies Financial Group Inc. Takes Position in Frontline plc (NYSE:FRO)

Jefferies Financial Group Inc. bought a new position in shares of Frontline plc (NYSE:FRO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 30,921 shares of the shipping company's stock, valued at approximately $425,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Glenorchy Capital Ltd raised its position in shares of Frontline by 4.6% during the fourth quarter. Glenorchy Capital Ltd now owns 182,325 shares of the shipping company's stock worth $2,587,000 after acquiring an additional 8,025 shares during the last quarter. Deutsche Bank AG boosted its holdings in Frontline by 15.4% in the fourth quarter. Deutsche Bank AG now owns 334,343 shares of the shipping company's stock valued at $4,744,000 after acquiring an additional 44,626 shares during the last quarter. Caption Management LLC acquired a new stake in Frontline during the 4th quarter valued at approximately $256,000. Bank of America Corp DE raised its holdings in Frontline by 153.1% during the 4th quarter. Bank of America Corp DE now owns 228,843 shares of the shipping company's stock worth $3,247,000 after purchasing an additional 138,426 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Frontline in the 4th quarter worth approximately $424,000. 22.70% of the stock is owned by institutional investors and hedge funds.

Frontline Trading Down 3.0%

Shares of Frontline stock traded down $0.53 on Thursday, reaching $17.17. 1,205,452 shares of the company's stock were exchanged, compared to its average volume of 3,243,942. The company has a market capitalization of $3.82 billion, a P/E ratio of 7.03 and a beta of 0.24. Frontline plc has a 52 week low of $12.40 and a 52 week high of $29.39. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.43 and a current ratio of 1.43. The firm's 50-day moving average is $15.97 and its two-hundred day moving average is $16.41.

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

Frontline Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.66%. Frontline's dividend payout ratio (DPR) is presently 36.04%.

Analysts Set New Price Targets

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