Vanguard Personalized Indexing Management LLC Buys 3,427 Shares of Frontline PLC $FRO

Vanguard Personalized Indexing Management LLC raised its holdings in shares of Frontline PLC (NYSE:FRO) by 31.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 14,299 shares of the shipping company’s stock after acquiring an additional 3,427 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Frontline were worth $235,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SVB Wealth LLC bought a new stake in shares of Frontline during the 1st quarter valued at $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Frontline during the 2nd quarter valued at $33,000. Bayforest Capital Ltd bought a new stake in shares of Frontline during the 1st quarter valued at $34,000. Signaturefd LLC raised its position in shares of Frontline by 59.3% during the 1st quarter. Signaturefd LLC now owns 2,657 shares of the shipping company’s stock valued at $39,000 after acquiring an additional 989 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its position in shares of Frontline by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 11,800 shares of the shipping company’s stock valued at $175,000 after acquiring an additional 5,900 shares during the last quarter. Institutional investors own 22.70% of the company’s stock.

Frontline Price Performance

Shares of NYSE FRO opened at $23.55 on Friday. The firm has a market cap of $5.24 billion, a PE ratio of 22.01 and a beta of 0.20. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.38. Frontline PLC has a 1-year low of $12.40 and a 1-year high of $24.63. The company has a fifty day moving average price of $22.33 and a 200 day moving average price of $19.33.

Frontline (NYSE:FRO) last issued its quarterly earnings results on Friday, August 29th. The shipping company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). Frontline had a return on equity of 10.27% and a net margin of 12.94%.The business had revenue of $282.95 million for the quarter, compared to the consensus estimate of $328.71 million. During the same period last year, the firm earned $0.62 earnings per share. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. Research analysts predict that Frontline PLC will post 1.78 earnings per share for the current fiscal year.

Frontline Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Friday, September 12th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.44 annualized dividend and a yield of 6.1%. Frontline’s payout ratio is 134.58%.

Analyst Upgrades and Downgrades

FRO has been the subject of several recent research reports. BTIG Research upped their target price on shares of Frontline from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Frontline in a research report on Saturday. Wall Street Zen raised shares of Frontline from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $25.00 price target on shares of Frontline in a report on Friday, August 29th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Frontline presently has a consensus rating of “Hold” and an average price target of $21.87.

About Frontline

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.