658,933 Shares in Frontline PLC $FRO Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new stake in shares of Frontline PLC (NYSE:FRO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 658,933 shares of the shipping company’s stock, valued at approximately $22,849,000. Canada Pension Plan Investment Board owned approximately 0.30% of Frontline as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Manatuck Hill Partners LLC bought a new stake in shares of Frontline in the 2nd quarter worth approximately $731,000. Legal & General Group Plc acquired a new stake in Frontline during the second quarter valued at approximately $10,355,000. The Manufacturers Life Insurance Company acquired a new position in shares of Frontline in the 2nd quarter valued at $12,581,000. Thomist Capital Management LP acquired a new position in Frontline in the 2nd quarter worth approximately $12,863,000. Finally, Fiduciary Financial Advisors acquired a new stake in Frontline during the 2nd quarter worth about $28,000. 22.70% of the stock is currently owned by institutional investors.

Frontline Stock Up 0.6%

NYSE FRO opened at $44.02 on Friday. Frontline PLC has a twelve month low of $20.31 and a twelve month high of $45.29. The stock has a market cap of $9.80 billion, a PE ratio of 10.84 and a beta of 0.02. The firm has a 50-day simple moving average of $39.32 and a 200 day simple moving average of $36.77. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.03 and a current ratio of 2.03.

Frontline (NYSE:FRO) last posted its quarterly earnings results on Friday, August 28th. The shipping company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.74 by $0.22. Frontline had a return on equity of 27.80% and a net margin of 36.70%.The firm had revenue of $943.30 million during the quarter, compared to analysts’ expectations of $758.85 million. During the same quarter in the prior year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 96.5% on a year-over-year basis.

Frontline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Friday, September 18th will be paid a $2.61 dividend. The ex-dividend date is Friday, September 18th. This is a positive change from Frontline’s previous quarterly dividend of $1.55. This represents a $10.44 dividend on an annualized basis and a dividend yield of 23.7%. Frontline’s dividend payout ratio is currently 152.71%.

Key Stories Impacting Frontline

Here are the key news stories impacting Frontline this week:

• Positive Sentiment: Record Q2 results: Frontline reported adjusted EPS of $2.96, exceeding the $2.74 analyst consensus, while revenue reached $943.3 million versus expectations of $758.85 million. Profit rose to a record $659 million, and revenue increased 96.5% year over year, reflecting sharply higher tanker rates amid geopolitical disruptions and tight vessel availability. Frontline’s Profit Hits Record $659 Million as Geopolitical Risks Impact Tanker Rates
• Positive Sentiment: Dividend increased: Frontline declared a quarterly dividend of $2.61 per share, up 68.4% from $1.55 previously. The payout is payable September 28 to investors of record September 18, implying an annualized dividend of approximately $10.44 per share and a reported yield of 23.7%. The larger distribution strengthens the stock’s income appeal, although shipping dividends can vary with freight-market conditions.
• Positive Sentiment: Analyst sentiment improved: Wall Street Zen upgraded Frontline to “Strong Buy,” potentially adding momentum after the company’s earnings and dividend announcements. Frontline Upgraded to Strong-Buy at Wall Street Zen
• Neutral Sentiment: Unusually heavy call activity: Traders purchased 14,816 call options, about 154% above typical daily call volume. This suggests increased bullish speculation, but options activity is not a guarantee of sustained share-price gains.
• Neutral Sentiment: Market-cycle exposure: Frontline’s results are benefiting from an “extraordinary” tanker market and geopolitical risks. Those factors support near-term earnings but may be volatile or reverse, creating longer-term uncertainty for investors.

Analyst Ratings Changes

Several equities research analysts recently commented on FRO shares. Weiss Ratings cut Frontline from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 12th. Wall Street Zen upgraded Frontline from a “buy” rating to a “strong-buy” rating in a research note on Saturday. DZ Bank lowered Frontline from a “hold” rating to a “sell” rating in a report on Friday, August 21st. Pareto Securities downgraded Frontline from a “buy” rating to a “hold” rating and set a $39.46 price target on the stock. in a research report on Monday, May 25th. Finally, BTIG Research upped their price target on Frontline from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Frontline currently has an average rating of “Hold” and an average target price of $41.62.

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.