Frontline plc (NYSE:FRO) is Hartree Partners LP's 5th Largest Position

Hartree Partners LP increased its stake in shares of Frontline plc (NYSE:FRO - Free Report) by 482.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,061,000 shares of the shipping company's stock after buying an additional 878,885 shares during the quarter. Frontline accounts for 5.6% of Hartree Partners LP's investment portfolio, making the stock its 5th largest holding. Hartree Partners LP owned 0.48% of Frontline worth $15,047,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Jones Financial Companies Lllp purchased a new stake in shares of Frontline during the 4th quarter valued at $31,000. Golden State Wealth Management LLC bought a new stake in shares of Frontline in the 4th quarter worth approximately $84,000. Blue Trust Inc. lifted its stake in Frontline by 84.4% in the fourth quarter. Blue Trust Inc. now owns 8,921 shares of the shipping company's stock valued at $127,000 after purchasing an additional 4,084 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new stake in Frontline in the fourth quarter worth $214,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Frontline in the fourth quarter valued at $241,000. 22.70% of the stock is owned by hedge funds and other institutional investors.

Frontline Trading Down 1.7 %

Shares of NYSE:FRO traded down $0.25 during midday trading on Thursday, hitting $14.70. 2,438,822 shares of the stock traded hands, compared to its average volume of 3,428,695. Frontline plc has a one year low of $13.17 and a one year high of $29.39. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.44. The business's 50 day moving average is $16.48 and its two-hundred day moving average is $17.96. The stock has a market capitalization of $3.27 billion, a PE ratio of 6.00 and a beta of 0.20.

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

Frontline Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 5.44%. Frontline's dividend payout ratio is currently 36.04%.

Analyst Upgrades and Downgrades

Several research firms have commented on FRO. Kepler Capital Markets set a $12.49 price objective on shares of Frontline in a report on Thursday, March 27th. Jefferies Financial Group reduced their price objective on shares of Frontline from $26.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $23.62.

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.