SG Americas Securities LLC Grows Position in Frontline plc (NYSE:FRO)

SG Americas Securities LLC lifted its holdings in shares of Frontline plc (NYSE:FRO - Free Report) by 148.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,121 shares of the shipping company's stock after acquiring an additional 19,783 shares during the period. SG Americas Securities LLC's holdings in Frontline were worth $470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Squarepoint Ops LLC increased its stake in shares of Frontline by 230.2% in the second quarter. Squarepoint Ops LLC now owns 32,319 shares of the shipping company's stock worth $833,000 after purchasing an additional 22,531 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Frontline during the 2nd quarter valued at $548,000. Redhawk Wealth Advisors Inc. raised its holdings in shares of Frontline by 6.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 25,675 shares of the shipping company's stock valued at $587,000 after buying an additional 1,608 shares in the last quarter. Creative Planning bought a new position in shares of Frontline during the 3rd quarter valued at $590,000. Finally, SeaCrest Wealth Management LLC boosted its holdings in Frontline by 11.3% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 49,175 shares of the shipping company's stock valued at $1,124,000 after acquiring an additional 5,000 shares during the period. 22.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FRO has been the topic of a number of recent analyst reports. Kepler Capital Markets lowered Frontline from a "buy" rating to a "hold" rating and set a $15.83 price objective on the stock. in a research report on Thursday, December 12th. Jefferies Financial Group reduced their price target on shares of Frontline from $26.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Frontline currently has an average rating of "Moderate Buy" and a consensus target price of $24.03.

Frontline Trading Down 2.0 %

NYSE:FRO traded down $0.39 during midday trading on Wednesday, hitting $18.49. The stock had a trading volume of 2,422,069 shares, compared to its average volume of 4,194,177. 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 stock has a 50-day moving average of $15.74 and a 200 day moving average of $20.00. The company has a market capitalization of $4.12 billion and a price-to-earnings ratio of 7.54. Frontline plc has a one year low of $13.17 and a one year high of $29.39.

Frontline (NYSE:FRO - Get Free Report) last issued its quarterly earnings data on Wednesday, November 27th. The shipping company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). Frontline had a net margin of 25.64% and a return on equity of 19.25%. During the same period in the previous year, the business posted $0.36 EPS. As a group, sell-side analysts forecast that Frontline plc will post 1.78 EPS for the current year.

Frontline Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th were paid a dividend of $0.34 per share. The ex-dividend date was Wednesday, December 11th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 7.36%. Frontline's payout ratio is 55.51%.

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.