Stocks of Frontline plc (NYSE:FRO) traded higher last session on Wall Street, up 4.60% to $15.69.
According to the data, Frontline plc (NYSE:FRO) has 14 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $302.00 and a low of $17.00, we find $22.00. Given the previous closing price of $15.00, this indicates a potential upside of 46.67 percent. FRO stock price is now 6.40% away from the 50-day moving average and 7.56% away from the 200-day moving average. The market capitalization of the company currently stands at $3.53B.
A total of 3 analysts have issued a hold rating and 11 have given it a buy rating. Brokers who have rated the stock have averaged $43.56 as their price target over the next twelve months.
With the price target reduced from $19 to $17, Deutsche Bank Upgraded its rating from Hold to Buy for Frontline plc (NYSE: FRO).
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 $15,824,000. LMR PARTNERS LLP invested $9,931,000 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 $7,301,000. TREXQUANT INVESTMENT LP acquired a new stake in FRO for approximately $4,543,000. CAMBRIDGE INVESTMENT RESEARCH ADVISORS, INC. purchased a new stake in FRO valued at around $3,729,000 in the second quarter. In total, there are 245 active investors with 21.10% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $15.40 for Frontline plc (NYSE: FRO). During the past 12 months, Frontline plc has had a low of $9.12 and a high of $19.29. The fifty day moving average price for FRO is $14.76 and a two-hundred day moving average price translates $14.61 for the stock.
The latest earnings results from Frontline plc (NYSE: FRO) was released for Mar, 2023. According to the Oil & Gas Midstream Company, earnings per share came in at $0.87, missing analysts’ expectations of $0.96 by -0.09. This compares to $0.14 EPS in the same period last year. The net profit margin was 37.20% and return on equity was 30.40% for FRO. The company reported revenue of $511.62 million for the quarter, compared to $222.82 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 129.61 percent. For the current quarter, analysts expect FRO to generate $334.96M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/30/2023. Investors who held shares on 06/16/2023 were paid a $0.70 dividend. On an annualized basis, this represents a $1.92 dividend and a 12.24% percent yield. There was an ex-dividend date of 06/15/2023 for this dividend. In terms of dividend payout ratio, FRO is presently at 42.10%.
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.
