2 weeks Ago By ABMN Staff
Commonwealth Equity Services LLC lowered its stake in shares of Frontline plc ( NYSE:FRO – Free Report ) by 4.1% during the fourth quarter, Holdings Channel.com reports.
The institutional investor owned 33,804 shares of the shipping company’s stock after selling 1,452 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Frontline were worth $480,000 at the end of the most recent quarter. Other institutional investors also recently modified their holdings of the company.
Swiss National Bank raised its position in shares of Frontline by 0.6% in the 4th quarter. Swiss National Bank now owns 286,612 shares of the shipping company’s stock valued at $3,953,000 after acquiring an additional 1,845 shares during the period.
Raymond James Financial Inc. bought a new stake in Frontline in the fourth quarter valued at approximately $241,000. Charles Schwab Investment Management Inc.
raised its holdings in Frontline by 65.5% in the fourth quarter. Charles Schwab Investment Management Inc.
now owns 71,972 shares of the shipping company’s stock worth $1,021,000 after purchasing an additional 28,478 shares during the period. SBI Securities Co. Ltd.
acquired a new stake in Frontline in the fourth quarter worth $341,000. Finally, Jones Financial Companies Lllp bought a new position in shares of Frontline during the fourth quarter worth $31,000. 22.
70% of the stock is currently owned by institutional investors and hedge funds. Analyst Ratings Changes A number of analysts recently commented on FRO shares. Kepler Capital Markets set a $12.
49 price objective on shares of Frontline in a research report on Thursday, March 27th. Jefferies Financial Group lowered their price target on Frontline from $26.00 to $20.
00 and set a “buy” rating for the company in a report on Tuesday, December 17th. Two investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.
62. Frontline Trading Down 10.6 % Shares of NYSE:FRO opened at $12.
83 on Friday. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 5.
23 and a beta of 0.20. Frontline plc has a 12 month low of $12.
40 and a 12 month high of $29.39. The company’s fifty day simple moving average is $16.
37 and its 200 day simple moving average is $17.82. The company has a quick ratio of 1.
43, a current ratio of 1.43 and a debt-to-equity ratio of 1.44.
Frontline ( NYSE:FRO – Get Free Report ) last released its quarterly earnings results on Friday, February 28th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.
20. The firm had revenue of $425.60 million for the quarter, compared to the consensus estimate of $273.
16 million. Frontline had a return on equity of 19.25% and a net margin of 25.
64%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis.
During the same quarter last year, the business posted $0.46 EPS. As a group, research analysts forecast that Frontline plc will post 1.
78 EPS for the current fiscal year. Frontline Cuts Dividend The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.
20 dividend. This represents a $0.80 annualized dividend and a yield of 6.
24%. The ex-dividend date of this dividend was Friday, March 14th. Frontline’s payout ratio is 36.
04%. Frontline Profile ( 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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