Frontline plc (NYSE:FRO) Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its position in Frontline plc (NYSE:FRO) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,510 shares of the shipping company’s stock after purchasing an additional 5,200 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Frontline were worth $3,279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in FRO. Godsey & Gibb Inc. purchased a new position in shares of Frontline during the 3rd quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC acquired a new position in Frontline during the second quarter worth $31,000. Summit Securities Group LLC raised its position in Frontline by 75.0% in the second quarter. Summit Securities Group LLC now owns 1,400 shares of the shipping company’s stock worth $36,000 after acquiring an additional 600 shares in the last quarter. Blue Trust Inc. lifted its holdings in Frontline by 17,866.7% in the second quarter. Blue Trust Inc. now owns 2,156 shares of the shipping company’s stock valued at $56,000 after acquiring an additional 2,144 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Frontline by 4,965.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,711 shares of the shipping company’s stock worth $116,000 after purchasing an additional 4,618 shares in the last quarter. Hedge funds and other institutional investors own 22.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $26.00 price objective on shares of Frontline in a research note on Wednesday, November 27th. Fearnley Fonds raised Frontline to a “strong-buy” rating in a research note on Friday, September 27th. Kepler Capital Markets cut Frontline from a “buy” rating to a “hold” rating and set a $15.83 price target on the stock. in a report on Thursday. StockNews.com raised Frontline to a “sell” rating in a report on Thursday, September 5th. Finally, BTIG Research raised Frontline from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.36.

Frontline Price Performance

NYSE FRO opened at $14.21 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.43 and a quick ratio of 1.43. Frontline plc has a fifty-two week low of $13.71 and a fifty-two week high of $29.39. The business has a fifty day moving average of $19.32 and a 200-day moving average of $22.53.

Frontline (NYSE:FRO) last announced its 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 quarter last year, the company posted $0.36 earnings per share. Equities research analysts predict that Frontline plc will post 1.83 earnings per share for the current year.

Frontline Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.36 annualized dividend and a yield of 9.57%. Frontline’s dividend payout ratio (DPR) is presently 55.51%.

Frontline 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.