FCG Investment Co Sells 13,975 Shares of Frontline plc (NYSE:FRO)

FCG Investment Co decreased its holdings in shares of Frontline plc (NYSE:FRO) by 38.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 22,042 shares of the shipping company’s stock after selling 13,975 shares during the period. FCG Investment Co’s holdings in Frontline were worth $313,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FRO. Godsey & Gibb Inc. purchased a new position in Frontline during the third quarter valued at approximately $25,000. Blue Trust Inc. increased its holdings in shares of Frontline by 124.4% in the 3rd quarter. Blue Trust Inc. now owns 4,837 shares of the shipping company’s stock valued at $111,000 after acquiring an additional 2,681 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Frontline by 4,965.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,711 shares of the shipping company’s stock worth $116,000 after acquiring an additional 4,618 shares in the last quarter. U S Global Investors Inc. purchased a new stake in shares of Frontline during the 3rd quarter worth $135,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Frontline during the 4th quarter worth $214,000. Institutional investors own 22.70% of the company’s stock.

Analyst Ratings Changes

FRO has been the subject of several analyst reports. Jefferies Financial Group decreased their price target on shares of Frontline from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th. BTIG Research raised shares of Frontline from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, October 7th. Fearnley Fonds raised shares of Frontline to a “strong-buy” rating in a report on Friday, September 27th. Finally, Kepler Capital Markets lowered Frontline from a “buy” rating to a “hold” rating and set a $15.83 price objective for the company. in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.03.

Frontline Stock Up 1.2 %

FRO opened at $16.84 on Friday. The company has a fifty day moving average of $16.11 and a two-hundred day moving average of $20.42. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 6.87 and a beta of 0.01. Frontline plc has a fifty-two week low of $13.17 and a fifty-two week high of $29.39. 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 (NYSE:FRO) last announced its quarterly earnings results on Wednesday, November 27th. The shipping company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). Frontline had a net margin of 25.64% and a return on equity of 19.25%. During the same period in the previous year, the business posted $0.36 earnings per share. On average, research analysts expect that Frontline plc will post 1.83 earnings per share for the current year.

Frontline Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th were paid a dividend of $0.34 per share. The ex-dividend date was Wednesday, December 11th. This represents a $1.36 annualized dividend and a yield of 8.08%. Frontline’s dividend payout ratio (DPR) is currently 55.51%.

Frontline Company 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.