FCG Investment Co Sells 13,975 Shares of Frontline plc (NYSE:FRO)

FCG Investment Co decreased its holdings in shares of Frontline plc (NYSE:FRO) by 38.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,042 shares of the shipping company’s stock after selling 13,975 shares during the quarter. FCG Investment Co’s holdings in Frontline were worth $313,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Private Advisor Group LLC raised its position in shares of Frontline by 4.8% during the 3rd quarter. Private Advisor Group LLC now owns 10,625 shares of the shipping company’s stock valued at $243,000 after buying an additional 490 shares in the last quarter. IHT Wealth Management LLC increased its stake in Frontline by 3.5% during the third quarter. IHT Wealth Management LLC now owns 15,723 shares of the shipping company’s stock worth $359,000 after acquiring an additional 535 shares during the last quarter. Godsey & Gibb Inc. purchased a new stake in Frontline during the third quarter valued at approximately $25,000. Redhawk Wealth Advisors Inc. lifted its stake in shares of Frontline by 6.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 25,675 shares of the shipping company’s stock valued at $587,000 after purchasing an additional 1,608 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Frontline by 124.4% in the 3rd quarter. Blue Trust Inc. now owns 4,837 shares of the shipping company’s stock worth $111,000 after purchasing an additional 2,681 shares during the period. Institutional investors own 22.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FRO. BTIG Research upgraded Frontline from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Monday, October 7th. Fearnley Fonds upgraded shares of Frontline to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group lowered their target price on shares of Frontline from $26.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. Finally, Kepler Capital Markets downgraded shares of Frontline from a “buy” rating to a “hold” rating and set a $15.83 price target on the stock. in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.03.

Frontline Stock Up 1.2 %

NYSE:FRO opened at $16.84 on Friday. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 6.87 and a beta of 0.01. Frontline plc has a twelve month low of $13.17 and a twelve month high of $29.39. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.44. The stock has a fifty day simple moving average of $16.11 and a 200-day simple moving average of $20.42.

Frontline (NYSE:FRO) last announced its quarterly earnings data on Wednesday, November 27th. The shipping company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates 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 in the prior year, the business posted $0.36 EPS. Analysts anticipate that Frontline plc will post 1.83 EPS for the current year.

Frontline Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, December 11th were issued a $0.34 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 8.08%. Frontline’s payout ratio is 55.51%.

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.