Frontline PLC $FRO Shares Newly Acquired by U S Global Investors Inc.

U S Global Investors Inc. bought a new position in shares of Frontline PLC (NYSE:FRO) during the third quarter, HoldingsChannel.com reports. The firm bought 14,847 shares of the shipping company’s stock, valued at approximately $732,000.

Other large investors have also made changes to their positions in the company. SeaCrest Wealth Management LLC bought a new position in shares of Frontline during the 3rd quarter valued at about $283,000. SBI Securities Co. Ltd. raised its holdings in Frontline by 12.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 11,637 shares of the shipping company’s stock valued at $573,000 after buying an additional 1,271 shares during the period. Reyes Financial Architecture Inc. bought a new stake in Frontline in the third quarter worth $25,000. QP Wealth Management LLC bought a new stake in Frontline in the third quarter worth $423,000. Finally, Nisa Investment Advisors LLC purchased a new position in Frontline during the third quarter worth $163,000. 22.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on FRO shares. Wall Street Zen upgraded shares of Frontline from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. DZ Bank downgraded shares of Frontline from a “hold” rating to a “sell” rating in a research note on Friday, August 21st. Nordea Equity Research lowered Frontline to a “hold” rating in a research report on Monday, August 31st. BTIG Research lifted their price objective on shares of Frontline from $55.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. Finally, Danske lowered shares of Frontline from a “hold” rating to a “sell” rating in a report on Friday, August 21st. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.37.

Frontline Price Performance

Shares of NYSE FRO opened at $51.23 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.87 and a current ratio of 1.87. The firm has a fifty day moving average of $48.91 and a 200 day moving average of $41.39. The firm has a market cap of $11.40 billion, a PE ratio of 7.68 and a beta of 0.15. Frontline PLC has a one year low of $20.47 and a one year high of $59.75.

Frontline (NYSE:FRO) last announced its earnings results on Friday, August 28th. The shipping company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.74 by ($0.13). The company had revenue of $943.30 million during the quarter, compared to analyst estimates of $758.89 million. Frontline had a net margin of 49.47% and a return on equity of 44.24%. The firm’s revenue for the quarter was up 96.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS.

Frontline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Friday, September 18th were paid a $2.61 dividend. The ex-dividend date of this dividend was Friday, September 18th. This represents a $10.44 dividend on an annualized basis and a 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%.

Frontline Company Profile

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.