X Square Capital LLC Invests $1.26 Million in Frontline plc (NYSE:FRO)

X Square Capital LLC acquired a new position in Frontline plc (NYSE:FRO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 88,828 shares of the shipping company's stock, valued at approximately $1,260,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FRO. IHT Wealth Management LLC raised its position in Frontline by 3.5% during the 3rd quarter. IHT Wealth Management LLC now owns 15,723 shares of the shipping company's stock worth $359,000 after buying an additional 535 shares during the last quarter. Swiss National Bank boosted its stake in shares of Frontline by 0.6% in the fourth quarter. Swiss National Bank now owns 286,612 shares of the shipping company's stock worth $3,953,000 after acquiring an additional 1,845 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Frontline during the fourth quarter worth approximately $31,000. Blue Trust Inc. raised its stake in Frontline by 84.4% in the 4th quarter. Blue Trust Inc. now owns 8,921 shares of the shipping company's stock valued at $127,000 after purchasing an additional 4,084 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in shares of Frontline by 3.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 143,510 shares of the shipping company's stock worth $3,279,000 after buying an additional 5,200 shares in the last quarter. Institutional investors and hedge funds own 22.70% of the company's stock.

Frontline Trading Up 2.6 %

Shares of FRO stock traded up $0.39 during trading hours on Tuesday, hitting $15.24. The company had a trading volume of 936,498 shares, compared to its average volume of 2,256,091. 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 stock has a market capitalization of $3.39 billion, a PE ratio of 6.23 and a beta of -0.04. The company's fifty day moving average is $16.54 and its 200 day moving average is $18.03. Frontline plc has a fifty-two week low of $13.17 and a fifty-two week high of $29.39.

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Frontline (NYSE:FRO - Get Free Report) last released its quarterly 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 business had revenue of $425.60 million during the quarter, compared to analyst estimates of $273.16 million. During the same period last year, the business posted $0.46 earnings per share. The company's quarterly revenue was up 2.6% on a year-over-year basis. Research analysts expect that Frontline plc will post 1.78 earnings per share for the current fiscal year.

Frontline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.25%. The ex-dividend date was Friday, March 14th. Frontline's payout ratio is 36.04%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FRO. Jefferies Financial Group lowered their target price on 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 lowered Frontline from a "hold" rating to a "strong sell" rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Frontline has a consensus rating of "Moderate Buy" and an average price target of $24.46.

Frontline 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.