SIH Partners LLLP Invests $2.05 Million in Frontline plc (NYSE:FRO)

SIH Partners LLLP acquired a new stake in Frontline plc (NYSE:FRO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 144,531 shares of the shipping company's stock, valued at approximately $2,051,000. SIH Partners LLLP owned approximately 0.06% of Frontline at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Range Financial Group LLC acquired a new stake in shares of Frontline in the 4th quarter valued at about $579,000. Harbour Capital Advisors LLC purchased a new position in Frontline during the 4th quarter worth $439,000. Clear Harbor Asset Management LLC purchased a new position in Frontline during the 4th quarter worth $214,000. SG Americas Securities LLC raised its holdings in shares of Frontline by 148.3% in the fourth quarter. SG Americas Securities LLC now owns 33,121 shares of the shipping company's stock valued at $470,000 after buying an additional 19,783 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of 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 period. 22.70% of the stock is owned by institutional investors and hedge funds.

Frontline Trading Up 3.8 %

FRO traded up $0.60 during midday trading on Thursday, reaching $16.30. 2,485,825 shares of the company were exchanged, compared to its average volume of 2,370,932. Frontline plc has a one year low of $12.40 and a one year high of $29.39. The stock has a market capitalization of $3.63 billion, a P/E ratio of 6.65 and a beta of 0.20. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.43 and a current ratio of 1.43. The stock's 50-day simple moving average is $15.48 and its 200 day simple moving average is $16.95.

Frontline (NYSE:FRO - Get Free Report) last issued its earnings results on Friday, February 28th. The shipping company reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. Frontline had a return on equity of 19.25% and a net margin of 25.64%. The company had revenue of $425.60 million during the quarter, compared to the consensus estimate of $273.16 million. During the same period in the previous year, the company posted $0.46 EPS. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts forecast that Frontline plc will post 1.78 earnings per share for the current fiscal year.

Frontline Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.91%. The ex-dividend date was Friday, March 14th. Frontline's dividend payout ratio is currently 36.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Evercore ISI lowered their price target on Frontline from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday. Kepler Capital Markets set a $12.49 price objective on Frontline in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Frontline presently has an average rating of "Moderate Buy" and a consensus price target of $20.62.

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.