Private Advisor Group LLC Purchases 17,428 Shares of Frontline plc (NYSE:FRO)

Private Advisor Group LLC raised its stake in Frontline plc (NYSE:FRO - Free Report) by 164.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,053 shares of the shipping company's stock after buying an additional 17,428 shares during the quarter. Private Advisor Group LLC's holdings in Frontline were worth $398,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of Frontline in the fourth quarter worth $84,000. Svenska Handelsbanken AB publ bought a new stake in shares of Frontline in the fourth quarter worth $415,000. Blue Trust Inc. increased its holdings in Frontline by 84.4% during the fourth quarter. Blue Trust Inc. now owns 8,921 shares of the shipping company's stock worth $127,000 after buying an additional 4,084 shares during the last quarter. SG Americas Securities LLC increased its holdings in Frontline by 148.3% during the fourth quarter. SG Americas Securities LLC now owns 33,121 shares of the shipping company's stock worth $470,000 after buying an additional 19,783 shares during the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new position in Frontline during the fourth quarter worth $214,000. Institutional investors own 22.70% of the company's stock.

Frontline Stock Performance

Shares of NYSE:FRO traded up $0.42 on Friday, hitting $16.61. The company had a trading volume of 2,863,342 shares, compared to its average volume of 2,172,563. Frontline plc has a 1-year low of $13.17 and a 1-year high of $29.39. The stock has a market cap of $3.70 billion and a price-to-earnings ratio of 6.78. The stock has a 50 day moving average price of $16.62 and a 200 day moving average price of $19.00. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.44.

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

Frontline Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.20 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 4.82%. Frontline's dividend payout ratio (DPR) is presently 36.04%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FRO shares. Jefferies Financial Group lowered their target price on shares of Frontline from $26.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, December 17th. Kepler Capital Markets downgraded shares of Frontline from a "buy" rating to a "hold" rating and set a $15.83 target price on the stock. in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Frontline has an average rating of "Moderate Buy" and an average price target of $24.46.

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.