Frontline Target of Unusually High Options Trading (NYSE:FRO)

Frontline plc (NYSE:FRO - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Investors acquired 9,294 call options on the company. This represents an increase of 121% compared to the typical volume of 4,210 call options.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. purchased a new position in shares of Frontline in the 4th quarter worth about $425,000. Public Employees Retirement System of Ohio raised its holdings in Frontline by 10.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 48,706 shares of the shipping company's stock worth $671,000 after buying an additional 4,716 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Frontline by 69.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 164,856 shares of the shipping company's stock worth $2,339,000 after buying an additional 67,445 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of Frontline by 62.7% during the fourth quarter. Vident Advisory LLC now owns 28,503 shares of the shipping company's stock valued at $404,000 after buying an additional 10,982 shares during the last quarter. Finally, Wexford Capital LP bought a new stake in shares of Frontline during the fourth quarter valued at approximately $312,000. Hedge funds and other institutional investors own 22.70% of the company's stock.

Frontline Stock Down 7.2 %

FRO traded down $1.03 during trading on Tuesday, reaching $13.27. The stock had a trading volume of 2,319,087 shares, compared to its average volume of 2,317,756. 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 capitalization of $2.95 billion, a price-to-earnings ratio of 5.39 and a beta of 0.20. The stock's 50 day moving average is $16.33 and its two-hundred day moving average is $17.72. Frontline has a one year low of $12.40 and a one year high of $29.39.

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Frontline (NYSE:FRO - Get Free Report) last issued its quarterly earnings results on Friday, February 28th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.20. The company 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%. Frontline's revenue was up 2.6% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS. As a group, analysts expect that Frontline will post 1.78 earnings per share for the current year.

Frontline Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 6.03%. Frontline's payout ratio is currently 36.04%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FRO shares. Kepler Capital Markets set a $12.49 target price on shares of Frontline in a report on Thursday, March 27th. Jefferies Financial Group decreased 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. Two analysts have rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $23.62.

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.