U S Global Investors Inc. acquired a new stake in Frontline PLC (NYSE:FRO – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 14,847 shares of the shipping company’s stock, valued at approximately $732,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FRO. Amundi boosted its holdings in Frontline by 162.6% in the second quarter. Amundi now owns 847,488 shares of the shipping company’s stock worth $29,809,000 after acquiring an additional 524,804 shares in the last quarter. BlackRock Inc. purchased a new stake in Frontline in the 2nd quarter valued at about $50,846,000. Artemis Investment Management LLP boosted its position in Frontline by 3.5% in the third quarter. Artemis Investment Management LLP now owns 774,952 shares of the shipping company’s stock worth $38,182,000 after purchasing an additional 26,380 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Frontline in the 2nd quarter worth about $30,123,000. Finally, Empowered Funds LLC bought a new stake in Frontline in the 2nd quarter valued at about $2,950,000. 22.70% of the stock is owned by institutional investors.
Frontline Price Performance
NYSE FRO opened at $51.23 on Friday. Frontline PLC has a 52 week low of $20.47 and a 52 week high of $59.75. The firm has a market capitalization of $11.40 billion, a P/E ratio of 7.68 and a beta of 0.15. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $48.91 and a 200-day moving average price of $41.39.
Frontline (NYSE:FRO – Get Free Report) last posted its quarterly earnings data on Friday, August 28th. The shipping company reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.74 by ($0.13). Frontline had a return on equity of 44.24% and a net margin of 49.47%. The business had revenue of $943.30 million during the quarter, compared to analysts’ expectations of $758.89 million. During the same period in the previous year, the business posted $0.36 EPS. The business’s quarterly revenue was up 96.5% compared to the same quarter last year.
Frontline Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Friday, September 18th were paid a dividend of $2.61 per share. The ex-dividend date was Friday, September 18th. This represents a $10.44 annualized dividend and a dividend yield of 20.4%. This is a boost from Frontline’s previous quarterly dividend of $1.55. Frontline’s dividend payout ratio is 156.52%.
Wall Street Analyst Weigh In
FRO has been the subject of a number of research analyst reports. Danske downgraded Frontline from a “hold” rating to a “sell” rating in a research report on Friday, August 21st. Weiss Ratings upgraded shares of Frontline from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. DZ Bank downgraded Frontline from a “hold” rating to a “sell” rating in a research note on Friday, August 21st. Nordea Equity Research lowered shares of Frontline to a “hold” rating in a report on Monday, August 31st. Finally, BTIG Research upped their target price on shares of Frontline from $55.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $45.37.
View Our Latest Research Report on FRO
About Frontline
Frontline plc is a maritime shipping company that owns and operates tankers used to transport crude oil and refined petroleum products worldwide. The company’s fleet includes very large crude carriers (VLCCs), Suezmax tankers, and Aframax and Long Range 2 (LR2) vessels, serving international energy markets.
Frontline’s vessels are employed through a combination of voyage charters, time charters and pool arrangements. Its operations connect major oil-producing regions with refineries and consuming markets across the Atlantic, Pacific and other global trade routes.
Founded in 1985, Frontline is incorporated in Bermuda and has corporate operations based in Limassol, Cyprus.
Featured Stories
- Five stocks we like better than Frontline
- Is Texas Instruments Setting Up for Its Next Big Breakout?
- Pegasystems’ Q3 Miss Exposed the Problem Standing Between AI and Cash Flow
- Lam Research’s Earnings Beat Wasn’t the Real Story—Its 2027 Outlook Was
- Tesla’s Flying-Car Hype Hits an Earnings Reality Check
Receive News & Ratings for Frontline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontline and related companies with MarketBeat.com's FREE daily email newsletter.
