Stock Traders Buy Large Volume of Call Options on Frontline (NYSE:FRO)

Frontline plc (NYSE:FRO - Get Free Report) was the target of unusually large options trading on Wednesday. Investors bought 7,286 call options on the company. This is an increase of 60% compared to the typical volume of 4,548 call options.

Institutional Investors Weigh In On Frontline

Hedge funds and other institutional investors have recently bought and sold shares of the business. Encompass Capital Advisors LLC acquired a new stake in Frontline in the first quarter valued at $45,026,000. Cooper Creek Partners Management LLC purchased a new position in Frontline during the 4th quarter valued at about $41,447,000. Hartree Partners LP increased its holdings in Frontline by 482.6% during the 4th quarter. Hartree Partners LP now owns 1,061,000 shares of the shipping company's stock valued at $15,047,000 after acquiring an additional 878,885 shares in the last quarter. Corigliano Investment Advisers LLC acquired a new position in Frontline during the first quarter worth about $12,002,000. Finally, Mirabella Financial Services LLP purchased a new stake in shares of Frontline in the fourth quarter valued at about $9,224,000. Institutional investors and hedge funds own 22.70% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on FRO shares. Kepler Capital Markets set a $12.49 target price on shares of Frontline in a report on Thursday, March 27th. Evercore ISI reduced their price objective 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 company's stock. According to MarketBeat.com, Frontline currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.62.

Frontline Stock Performance

FRO stock traded up $0.77 on Friday, hitting $18.29. The company's stock had a trading volume of 3,433,383 shares, compared to its average volume of 2,506,480. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 7.47 and a beta of 0.24. The firm has a 50 day moving average of $16.22 and a two-hundred day moving average of $16.34. 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 has a 1 year low of $12.40 and a 1 year high of $28.00.

Frontline (NYSE:FRO - Get Free Report) last announced its earnings results on Friday, May 23rd. The shipping company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Frontline had a net margin of 25.64% and a return on equity of 19.25%. The business had revenue of $427.87 million during the quarter, compared to the consensus estimate of $252.26 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The business's quarterly revenue was down 26.0% compared to the same quarter last year. Equities analysts predict that Frontline will post 1.78 EPS for the current fiscal year.

About Frontline

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.