SIH Partners LLLP Makes New $2.05 Million Investment in Frontline plc (NYSE:FRO)

SIH Partners LLLP acquired a new position in shares of Frontline plc (NYSE:FRO - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 144,531 shares of the shipping company's stock, valued at approximately $2,051,000. SIH Partners LLLP owned 0.06% of Frontline at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Frontline by 65.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 71,972 shares of the shipping company's stock worth $1,021,000 after buying an additional 28,478 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Frontline during the fourth quarter worth $341,000. Dynamic Technology Lab Private Ltd purchased a new position in Frontline during the fourth quarter worth $342,000. Private Advisor Group LLC increased its position in Frontline by 164.0% during the fourth quarter. Private Advisor Group LLC now owns 28,053 shares of the shipping company's stock worth $398,000 after buying an additional 17,428 shares in the last quarter. Finally, Range Financial Group LLC purchased a new position in Frontline during the fourth quarter worth $579,000. 22.70% of the stock is owned by institutional investors and hedge funds.

Frontline Stock Performance

FRO traded up $0.28 during trading hours on Friday, hitting $16.57. 3,991,493 shares of the stock were exchanged, compared to its average volume of 2,385,528. The stock has a 50-day simple moving average of $15.45 and a 200-day simple moving average of $16.79. Frontline plc has a 12 month low of $12.40 and a 12 month high of $29.39. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 6.76 and a beta of 0.20. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.43 and a quick ratio of 1.43.

Frontline (NYSE:FRO - Get Free Report) last posted 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 analysts' expectations 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 period last year, the business posted $0.46 earnings per share. Analysts anticipate that Frontline plc will post 1.78 earnings per share for the current year.

Frontline Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.83%. The ex-dividend date was Friday, March 14th. Frontline's dividend payout ratio is presently 36.04%.

Wall Street Analysts Forecast Growth

FRO has been the topic of several analyst reports. Evercore ISI decreased their price objective 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 price objective on Frontline in a report on Thursday, March 27th. Two investment 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.62.

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.