Skandinaviska Enskilda Banken AB publ Has $1.35 Million Stock Holdings in Frontline PLC $FRO

Skandinaviska Enskilda Banken AB publ decreased its position in Frontline PLC (NYSE:FRO) by 76.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,360 shares of the shipping company’s stock after selling 187,595 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Frontline were worth $1,353,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FRO. Financial Gravity Companies Inc. acquired a new stake in Frontline during the 2nd quarter worth $25,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Frontline by 3,353.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 4,627 shares of the shipping company’s stock worth $76,000 after acquiring an additional 4,493 shares in the last quarter. State of Wyoming acquired a new stake in shares of Frontline during the second quarter worth about $105,000. State of Alaska Department of Revenue acquired a new stake in shares of Frontline during the third quarter worth about $184,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Frontline by 17.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 9,730 shares of the shipping company’s stock valued at $160,000 after purchasing an additional 1,447 shares in the last quarter. Institutional investors own 22.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on FRO. Weiss Ratings reissued a “hold (c)” rating on shares of Frontline in a research note on Monday, December 29th. Evercore increased their price objective on shares of Frontline from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Clarkson Capital upgraded shares of Frontline from a “neutral” rating to a “buy” rating in a report on Monday, January 12th. BTIG Research upped their target price on shares of Frontline from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Finally, Jefferies Financial Group increased their target price on Frontline from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $25.87.

Frontline Trading Up 2.7%

Frontline stock opened at $34.73 on Friday. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 35.43 and a beta of 0.07. The firm has a 50-day moving average of $25.95 and a 200-day moving average of $23.83. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.37 and a quick ratio of 1.37. Frontline PLC has a one year low of $12.40 and a one year high of $34.75.

Frontline (NYSE:FRO) last released its earnings results on Friday, November 21st. The shipping company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.04). Frontline had a return on equity of 8.89% and a net margin of 12.23%.The company had revenue of $257.04 million for the quarter, compared to the consensus estimate of $265.23 million. During the same quarter in the previous year, the company posted $0.34 EPS. On average, equities analysts expect that Frontline PLC will post 1.78 earnings per share for the current fiscal year.

Frontline Profile

Frontline Ltd. (NYSE:FRO) is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company’s core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.

Frontline’s fleet is geared toward high-capacity, ocean-going tankers capable of carrying large volumes of crude oil over intercontinental distances.