Fox Run Management L.L.C. Invests $1.49 Million in Frontline PLC $FRO

Fox Run Management L.L.C. acquired a new position in shares of Frontline PLC (NYSE:FRO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 68,194 shares of the shipping company’s stock, valued at approximately $1,488,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cantor Fitzgerald L. P. increased its position in shares of Frontline by 1.1% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 38,601 shares of the shipping company’s stock worth $880,000 after purchasing an additional 430 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Frontline by 3.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 16,204 shares of the shipping company’s stock worth $369,000 after purchasing an additional 552 shares in the last quarter. TD Asset Management Inc increased its position in shares of Frontline by 6.3% during the 3rd quarter. TD Asset Management Inc now owns 18,163 shares of the shipping company’s stock worth $415,000 after purchasing an additional 1,084 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Frontline by 4.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 29,331 shares of the shipping company’s stock worth $647,000 after purchasing an additional 1,203 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Frontline during the 3rd quarter worth about $41,000. 22.70% of the stock is owned by institutional investors.

Frontline Trading Down 0.6%

FRO opened at $34.97 on Tuesday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $7.78 billion, a PE ratio of 8.61 and a beta of 0.02. Frontline PLC has a 1-year low of $16.25 and a 1-year high of $39.89. The firm has a 50-day moving average price of $36.07 and a two-hundred day moving average price of $30.67.

Frontline (NYSE:FRO) last posted its quarterly earnings data on Friday, May 22nd. The shipping company reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.03). The company had revenue of $714.24 million during the quarter, compared to analyst estimates of $579.59 million. Frontline had a net margin of 36.70% and a return on equity of 27.80%. The company’s revenue was up 66.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 EPS.

Frontline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 12th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 17.7%. The ex-dividend date is Friday, June 12th. This is a boost from Frontline’s previous quarterly dividend of $1.03. Frontline’s dividend payout ratio is 101.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FRO shares. Evercore cut shares of Frontline from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Dnb Carnegie cut shares of Frontline from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Weiss Ratings upgraded shares of Frontline from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, May 22nd. BTIG Research increased their target price on shares of Frontline from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, Piper Sandler cut shares of Frontline to a “neutral” rating in a research report on Friday, February 27th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Frontline currently has an average rating of “Hold” and an average target price of $39.12.

Frontline Company 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.