Amundi decreased its stake in shares of Frontline plc (NYSE:FRO - Free Report) by 13.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 161,545 shares of the shipping company's stock after selling 25,060 shares during the period. Amundi owned 0.07% of Frontline worth $2,292,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Smead Capital Management Inc. raised its holdings in Frontline by 5.1% in the third quarter. Smead Capital Management Inc. now owns 670,581 shares of the shipping company's stock valued at $15,188,000 after buying an additional 32,531 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Frontline by 102.6% in the 3rd 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. The Manufacturers Life Insurance Company lifted its holdings in shares of Frontline by 1,326.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 527,470 shares of the shipping company's stock valued at $12,053,000 after acquiring an additional 490,486 shares in the last quarter. Quantbot Technologies LP boosted its position in Frontline by 14.6% during the 3rd quarter. Quantbot Technologies LP now owns 106,015 shares of the shipping company's stock worth $2,422,000 after purchasing an additional 13,472 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in Frontline in the 3rd quarter valued at $448,000. Hedge funds and other institutional investors own 22.70% of the company's stock.
Frontline Stock Performance
FRO traded down $0.75 on Friday, hitting $16.13. 2,588,273 shares of the company's stock were exchanged, compared to its average volume of 2,214,962. 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 fifty day moving average of $16.87 and a two-hundred day moving average of $18.43. Frontline plc has a twelve month low of $13.17 and a twelve month high of $29.39. The firm has a market cap of $3.59 billion, a PE ratio of 6.58 and a beta of -0.04.
Frontline (NYSE:FRO - Get Free Report) last released its quarterly earnings data on Friday, February 28th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.20. Frontline had a return on equity of 19.25% and a net margin of 25.64%. The business had revenue of $425.60 million during the quarter, compared to analyst estimates of $273.16 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 4.96%. Frontline's payout ratio is currently 36.04%.
Analysts Set New Price Targets
FRO has been the subject of several analyst reports. Kepler Capital Markets downgraded Frontline from a "buy" rating to a "hold" rating and set a $15.83 target price for the company. in a research report on Thursday, December 12th. Jefferies Financial Group dropped their price objective on Frontline from $26.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.46.
View Our Latest Report on Frontline
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.
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