Range Financial Group LLC purchased a new stake in Frontline plc (NYSE:FRO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 40,827 shares of the shipping company's stock, valued at approximately $579,000.
Several other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new stake in Frontline in the 3rd quarter valued at about $783,000. Charles Schwab Investment Management Inc. grew its stake in Frontline by 102.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 43,494 shares of the shipping company's stock valued at $994,000 after acquiring an additional 22,022 shares during the period. Edge Capital Group LLC increased its holdings in shares of Frontline by 31.8% during the second quarter. Edge Capital Group LLC now owns 413,096 shares of the shipping company's stock valued at $10,641,000 after acquiring an additional 99,765 shares in the last quarter. FCG Investment Co acquired a new position in shares of Frontline during the third quarter worth approximately $823,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Frontline in the 3rd quarter worth $998,000. Institutional investors and hedge funds own 22.70% of the company's stock.
Frontline Stock Performance
Shares of FRO stock traded up $1.66 during trading on Tuesday, hitting $15.93. The company's stock had a trading volume of 8,170,615 shares, compared to its average volume of 3,775,499. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.44. The company has a market cap of $3.55 billion, a PE ratio of 6.50 and a beta of 0.01. The business has a fifty day moving average of $16.58 and a 200-day moving average of $21.05. Frontline plc has a 52 week low of $13.17 and a 52 week high of $29.39.
Frontline (NYSE:FRO - Get Free Report) last announced its earnings results on Wednesday, November 27th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). Frontline had a net margin of 25.64% and a return on equity of 19.25%. During the same period in the previous year, the business earned $0.36 EPS. As a group, research analysts anticipate that Frontline plc will post 1.83 earnings per share for the current year.
Frontline Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 8.54%. The ex-dividend date was Wednesday, December 11th. Frontline's dividend payout ratio is 55.51%.
Wall Street Analysts Forecast Growth
FRO has been the topic of a number of recent research reports. Kepler Capital Markets lowered shares of Frontline from a "buy" rating to a "hold" rating and set a $15.83 price objective on the stock. in a research note on Thursday, December 12th. Fearnley Fonds raised shares of Frontline to a "strong-buy" rating in a research report on Friday, September 27th. BTIG Research raised Frontline from a "neutral" rating to a "buy" rating and set a $30.00 price objective for the company in a report on Monday, October 7th. Finally, Jefferies Financial Group dropped their target price on Frontline from $26.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.36.
Check Out Our Latest Stock Report on FRO
Frontline Profile
(
Free Report)
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.
Read More
Before you consider Frontline, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Frontline wasn't on the list.
While Frontline currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.