Cwm LLC Has $75,000 Stock Position in Frontline plc (NYSE:FRO)

Cwm LLC lessened its stake in shares of Frontline plc (NYSE:FRO) by 27.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,722 shares of the shipping company’s stock after selling 1,400 shares during the period. Cwm LLC’s holdings in Frontline were worth $75,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Fiera Capital Corp acquired a new position in Frontline in the 3rd quarter worth approximately $10,682,000. Acadian Asset Management LLC grew its position in Frontline by 6,022.8% during the third quarter. Acadian Asset Management LLC now owns 502,682 shares of the shipping company’s stock valued at $9,427,000 after purchasing an additional 494,472 shares in the last quarter. Hsbc Holdings PLC increased its stake in Frontline by 17.2% in the 3rd quarter. Hsbc Holdings PLC now owns 1,114,841 shares of the shipping company’s stock valued at $20,537,000 after buying an additional 163,804 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Frontline in the 3rd quarter worth approximately $2,881,000. Finally, NewSquare Capital LLC acquired a new stake in shares of Frontline during the 3rd quarter valued at $2,777,000. 22.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FRO shares. Deutsche Bank Aktiengesellschaft raised Frontline from a “hold” rating to a “buy” rating and boosted their price target for the company from $17.00 to $26.00 in a research note on Tuesday, January 9th. JPMorgan Chase & Co. decreased their price objective on shares of Frontline from $23.00 to $22.30 and set a “neutral” rating for the company in a report on Friday, March 1st. Jefferies Financial Group upgraded Frontline from a “hold” rating to a “buy” rating and raised their target price for the company from $22.00 to $30.00 in a report on Thursday, March 21st. Finally, StockNews.com downgraded Frontline from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st.

Frontline Price Performance

Shares of Frontline stock opened at $24.87 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.45 and a debt-to-equity ratio of 1.40. The firm has a fifty day simple moving average of $23.49 and a 200-day simple moving average of $22.25. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 8.43 and a beta of 0.03. Frontline plc has a 1-year low of $13.35 and a 1-year high of $25.14.

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

Frontline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.95%. This is a positive change from Frontline’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, March 14th. Frontline’s dividend payout ratio (DPR) is currently 50.17%.

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.