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Traders Purchase Large Volume of Frontline Call Options (NYSE:FRO)

Frontline logo with Transportation background

Frontline plc (NYSE:FRO - Get Free Report) saw unusually large options trading activity on Tuesday. Traders bought 4,374 call options on the company. This represents an increase of 70% compared to the typical volume of 2,580 call options.

Hedge Funds Weigh In On Frontline

Several institutional investors and hedge funds have recently modified their holdings of FRO. Godsey & Gibb Inc. bought a new position in shares of Frontline in the third quarter worth $25,000. Ashton Thomas Private Wealth LLC bought a new position in Frontline in the 2nd quarter valued at about $31,000. Blue Trust Inc. raised its position in shares of Frontline by 124.4% in the 3rd quarter. Blue Trust Inc. now owns 4,837 shares of the shipping company's stock valued at $111,000 after buying an additional 2,681 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Frontline by 4,965.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,711 shares of the shipping company's stock worth $116,000 after acquiring an additional 4,618 shares during the period. Finally, U S Global Investors Inc. acquired a new stake in shares of Frontline during the 3rd quarter worth approximately $135,000. 22.70% of the stock is currently owned by institutional investors and hedge funds.

Frontline Stock Performance

Frontline stock traded up $1.66 during trading hours on Tuesday, hitting $15.93. The company had a trading volume of 8,170,615 shares, compared to its average volume of 3,775,499. The firm has a 50-day moving average of $16.58 and a 200 day moving average of $21.05. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market cap of $3.55 billion, a PE ratio of 6.50 and a beta of 0.01. Frontline has a one year low of $13.17 and a one year 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 for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). Frontline had a return on equity of 19.25% and a net margin of 25.64%. During the same period in the prior year, the business posted $0.36 EPS. On average, sell-side analysts expect that Frontline will post 1.83 earnings per share for the current year.

Frontline Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th were given a $0.34 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 8.54%. Frontline's payout ratio is presently 55.51%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Fearnley Fonds upgraded Frontline to a "strong-buy" rating in a report on Friday, September 27th. Kepler Capital Markets cut 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. Jefferies Financial Group decreased their target price 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. Finally, BTIG Research raised shares of Frontline from a "neutral" rating to a "buy" rating and set a $30.00 price target on the stock in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Frontline presently has an average rating of "Moderate Buy" and a consensus price target of $24.36.

Get Our Latest Report on Frontline

Frontline Company Profile

(Get 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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