In yesterday’s Wall Street session, Frontline plc (NYSE:FRO) shares traded at $14.78, up 2.00% from the previous session.
12 analysts cover Frontline plc (NYSE:FRO), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $34.00 and a low of $16.01, we find $21.80. Given the previous closing price of $14.49, this indicates a potential upside of 50.45 percent. FRO stock price is now -6.66% away from the 50-day moving average and 5.89% away from the 200-day moving average. The market capitalization of the company currently stands at $3.23B.
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The stock has received a hold rating from 4 analysts and a buy rating from 8. Brokers who have rated the stock have averaged $22.04 as their price target over the next twelve months.
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A total of 33.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FRO stock. A new stake in Frontline plc shares was purchased by BANK OF MONTREAL /CAN/ during the first quarter worth $14,906,000. LMR PARTNERS LLP invested $9,355,000 in shares of FRO during the first quarter. In the first quarter, SMEAD CAPITAL MANAGEMENT, INC. acquired a new stake in Frontline plc valued at approximately $6,877,000. TREXQUANT INVESTMENT LP acquired a new stake in FRO for approximately $4,280,000. JUMP FINANCIAL, LLC purchased a new stake in FRO valued at around $3,051,000 in the second quarter. In total, there are 245 active investors with 21.10% ownership of the company’s stock.
On Friday morning Frontline plc (NYSE: FRO) stock kicked off with the opening price of $14.78. During the past 12 months, Frontline plc has had a low of $7.51 and a high of $19.29. The fifty day moving average price for FRO is $15.77 and a two-hundred day moving average price translates $13.98 for the stock.
The latest earnings results from Frontline plc (NYSE: FRO) was released for Dec, 2022. The net profit margin was 33.10% and return on equity was 24.00% for FRO. The company reported revenue of $538.18 million for the quarter, compared to $217.61 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 147.32 percent.
Moreover, the firm recently paid out its quarterly dividend on 03/31/2023. Investors who held shares on 03/16/2023 were paid a $0.77 dividend. On an annualized basis, this represents a $1.22 dividend and a 8.25% percent yield. There was an ex-dividend date of 03/15/2023 for this dividend. In terms of dividend payout ratio, FRO is presently at 56.60%.
Frontline plc(FRO) 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.
