Frontline plc (NYSE:FRO) Shares Sold by Integrated Advisors Network LLC

Integrated Advisors Network LLC cut its holdings in Frontline plc (NYSE:FRO) by 3.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 42,149 shares of the shipping company’s stock after selling 1,334 shares during the quarter. Integrated Advisors Network LLC’s holdings in Frontline were worth $626,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FRO. Vanguard Group Inc. lifted its holdings in shares of Frontline by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,493,085 shares of the shipping company’s stock valued at $75,502,000 after purchasing an additional 51,073 shares in the last quarter. Cooper Creek Partners Management LLC acquired a new position in shares of Frontline during the 4th quarter worth approximately $41,447,000. Renaissance Technologies LLC lifted its stake in Frontline by 27.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,378,037 shares of the shipping company’s stock valued at $19,554,000 after buying an additional 297,437 shares in the last quarter. Marshall Wace LLP lifted its stake in Frontline by 137.2% in the 4th quarter. Marshall Wace LLP now owns 1,090,427 shares of the shipping company’s stock valued at $15,473,000 after buying an additional 630,685 shares in the last quarter. Finally, Hartree Partners LP grew its holdings in Frontline by 482.6% during the 4th quarter. Hartree Partners LP now owns 1,061,000 shares of the shipping company’s stock valued at $15,047,000 after buying an additional 878,885 shares during the last quarter. 22.70% of the stock is owned by institutional investors and hedge funds.

Frontline Stock Up 7.6%

Shares of NYSE FRO opened at $19.77 on Friday. The firm has a market cap of $4.40 billion, a P/E ratio of 8.07 and a beta of 0.28. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.43 and a current ratio of 1.43. Frontline plc has a 1 year low of $12.40 and a 1 year high of $26.53. The firm’s 50 day moving average price is $16.94 and its 200 day moving average price is $16.26.

Frontline (NYSE:FRO) last issued its quarterly earnings results on Friday, May 23rd. The shipping company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. Frontline had a return on equity of 19.25% and a net margin of 25.64%. The company had revenue of $427.87 million for the quarter, compared to analyst estimates of $252.26 million. During the same quarter in the prior year, the company posted $0.62 EPS. The business’s revenue for the quarter was down 26.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Frontline plc will post 1.78 earnings per share for the current year.

Frontline Dividend Announcement

The firm also recently declared a dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Friday, June 13th will be paid a $0.18 dividend. This represents a yield of 3.97%. The ex-dividend date is Thursday, June 12th. Frontline’s payout ratio is 46.15%.

Analyst Upgrades and Downgrades

FRO has been the subject of a number of analyst reports. Kepler Capital Markets set a $12.49 price target on Frontline in a report on Thursday, March 27th. Evercore ISI dropped their price objective on Frontline from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.62.

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.