Capital Fund Management S.A. Takes Position in Frontline plc (NYSE:FRO)

Capital Fund Management S.A. acquired a new stake in Frontline plc (NYSE:FRO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 367,555 shares of the shipping company's stock, valued at approximately $5,216,000. Capital Fund Management S.A. owned about 0.17% of Frontline as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FRO. Jones Financial Companies Lllp acquired a new stake in shares of Frontline in the fourth quarter valued at approximately $31,000. Golden State Wealth Management LLC purchased a new position in shares of Frontline during the 4th quarter worth $84,000. National Bank of Canada FI raised its holdings in shares of Frontline by 331.8% during the 4th quarter. National Bank of Canada FI now owns 6,166 shares of the shipping company's stock worth $87,000 after acquiring an additional 4,738 shares during the period. Blue Trust Inc. boosted its position in shares of Frontline by 84.4% during the 4th quarter. Blue Trust Inc. now owns 8,921 shares of the shipping company's stock valued at $127,000 after acquiring an additional 4,084 shares during the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Frontline in the fourth quarter valued at about $214,000. Hedge funds and other institutional investors own 22.70% of the company's stock.

Analysts Set New Price Targets

Separately, Kepler Capital Markets set a $12.49 target price on shares of Frontline in a report on Thursday, March 27th. Two research 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $23.62.

Frontline Trading Up 4.4 %

NYSE FRO traded up $0.66 during trading hours on Friday, reaching $15.43. The company had a trading volume of 1,961,660 shares, compared to its average volume of 2,362,784. 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 stock has a market capitalization of $3.43 billion, a P/E ratio of 6.30 and a beta of 0.20. The stock has a 50-day moving average of $15.65 and a 200 day moving average of $17.21. Frontline plc has a 1-year low of $12.40 and a 1-year high of $29.39.

Frontline (NYSE:FRO - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The shipping company reported $0.20 earnings per share for the quarter, hitting analysts' consensus estimates of $0.20. The firm had revenue of $425.60 million during the quarter, compared to analysts' expectations of $273.16 million. Frontline had a net margin of 25.64% and a return on equity of 19.25%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.46 EPS. As a group, research analysts anticipate that Frontline plc will post 1.78 earnings per share for the current fiscal year.

Frontline Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend was Friday, March 14th. Frontline's dividend payout ratio is currently 36.04%.

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.