RMR Wealth Builders Grows Position in Frontline plc (NYSE:FRO)

RMR Wealth Builders raised its holdings in shares of Frontline plc (NYSE:FRO) by 4.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,612 shares of the shipping company’s stock after acquiring an additional 652 shares during the quarter. RMR Wealth Builders’ holdings in Frontline were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of FRO. Naples Money Management LLC purchased a new stake in Frontline in the fourth quarter valued at approximately $27,000. Russell Investments Group Ltd. grew its position in Frontline by 169.2% during the fourth quarter. Russell Investments Group Ltd. now owns 3,928 shares of the shipping company’s stock valued at $79,000 after acquiring an additional 2,469 shares during the last quarter. Emfo LLC bought a new position in Frontline during the fourth quarter valued at approximately $80,000. Tucker Asset Management LLC grew its position in Frontline by 477.3% during the third quarter. Tucker Asset Management LLC now owns 4,301 shares of the shipping company’s stock valued at $81,000 after acquiring an additional 3,556 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Frontline during the third quarter valued at approximately $190,000. 22.70% of the stock is owned by hedge funds and other institutional investors.

Frontline Stock Up 1.7 %

Shares of FRO stock traded up $0.43 during mid-day trading on Wednesday, reaching $25.31. 2,427,264 shares of the company’s stock traded hands, compared to its average volume of 2,098,808. Frontline plc has a 12 month low of $13.35 and a 12 month high of $25.39. The company has a market cap of $5.63 billion, a P/E ratio of 8.58 and a beta of 0.03. The company has a quick ratio of 1.45, a current ratio of 1.78 and a debt-to-equity ratio of 1.40. The company’s 50-day moving average price is $23.54 and its 200-day moving average price is $22.27.

Frontline (NYSE:FRO) last announced its earnings results on Thursday, February 29th. The shipping company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.05). Frontline had a net margin of 35.95% and a return on equity of 26.00%. The business had revenue of $415.00 million for the quarter, compared to the consensus estimate of $280.36 million. During the same quarter last year, the firm posted $0.97 EPS. The business’s quarterly revenue was down 21.7% on a year-over-year basis. On average, equities analysts expect that Frontline plc will post 3.03 earnings per share for the current fiscal year.

Frontline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 15th were paid a $0.37 dividend. This is a boost from Frontline’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 5.85%. Frontline’s payout ratio is presently 50.17%.

Analyst Ratings Changes

A number of research analysts have commented on FRO shares. StockNews.com cut shares of Frontline from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Jefferies Financial Group upgraded shares of Frontline from a “hold” rating to a “buy” rating and increased their price target for the company from $22.00 to $30.00 in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft raised shares of Frontline from a “hold” rating to a “buy” rating and lifted their target price for the stock from $17.00 to $26.00 in a research note on Tuesday, January 9th. Finally, JPMorgan Chase & Co. decreased their target price 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.

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.