F M Investments LLC Acquires 9,200 Shares of Frontline plc (NYSE:FRO)

F M Investments LLC increased its holdings in shares of Frontline plc (NYSE:FRO) by 7.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 138,700 shares of the shipping company’s stock after acquiring an additional 9,200 shares during the quarter. Frontline comprises about 1.6% of F M Investments LLC’s investment portfolio, making the stock its 22nd largest holding. F M Investments LLC owned approximately 0.06% of Frontline worth $2,781,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Naples Money Management LLC bought a new position in Frontline in the 4th quarter valued at about $27,000. Hexagon Capital Partners LLC increased its holdings in Frontline by 27.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,882 shares of the shipping company’s stock valued at $54,000 after buying an additional 628 shares during the period. National Bank of Canada FI increased its holdings in Frontline by 672.8% in the 3rd quarter. National Bank of Canada FI now owns 3,864 shares of the shipping company’s stock valued at $69,000 after buying an additional 3,364 shares during the period. Emfo LLC bought a new position in Frontline in the 4th quarter valued at about $80,000. Finally, Tucker Asset Management LLC increased its holdings in Frontline by 477.3% in the 3rd quarter. Tucker Asset Management LLC now owns 4,301 shares of the shipping company’s stock valued at $81,000 after buying an additional 3,556 shares during the period. 22.70% of the stock is owned by institutional investors.

Frontline Price Performance

Shares of FRO traded up $0.52 during mid-day trading on Tuesday, reaching $23.42. The company had a trading volume of 896,424 shares, compared to its average volume of 2,169,175. The company’s 50 day simple moving average is $23.37 and its 200 day simple moving average is $22.01. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.79 and a current ratio of 1.78. Frontline plc has a 1-year low of $13.35 and a 1-year high of $25.14. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 7.94 and a beta of 0.06.

Frontline (NYSE:FRO) last posted its earnings results on Thursday, February 29th. The shipping company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.05). Frontline had a return on equity of 26.00% and a net margin of 35.95%. The business had revenue of $415.00 million for the quarter, compared to analyst estimates of $280.36 million. During the same quarter in the prior year, the business earned $0.97 earnings per share. The firm’s quarterly revenue was down 21.7% on a year-over-year basis. Analysts expect that Frontline plc will post 3.12 EPS for the current year.

Frontline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 15th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Frontline’s previous quarterly dividend of $0.30. This represents a $1.48 annualized dividend and a yield of 6.32%. Frontline’s dividend payout ratio (DPR) is currently 50.17%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FRO shares. Jefferies Financial Group upgraded shares of Frontline from a “hold” rating to a “buy” rating and raised their price target for the company from $22.00 to $30.00 in a research note on Thursday, March 21st. JPMorgan Chase & Co. reduced their price target on shares of Frontline from $23.00 to $22.30 and set a “neutral” rating on the stock in a research note on Friday, March 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Frontline from a “hold” rating to a “buy” rating and raised their price target for the company from $17.00 to $26.00 in a research note on Tuesday, January 9th.

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.