Frontline plc (NYSE:FRO) shares traded 3.00% higher at $17.87 on Wall Street last session.
In accordance with the data, 15 analysts cover Frontline plc (NYSE:FRO). 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 $17.00, we find $22.96. Given the previous closing price of $17.35, this indicates a potential upside of 32.33 percent. FRO stock price is now 6.20% away from the 50-day moving average and 15.47% away from the 200-day moving average. The market capitalization of the company currently stands at $3.89B.
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It has been rated a hold by 5 analysts and a buy by 10. Brokers who have rated the stock have averaged $22.70 as their price target over the next twelve months.
With the price target maintained at $17, Deutsche Bank recently Downgraded its rating from Buy to Hold 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 QUBE RESEARCH & TECHNOLOGIES LTD during the first quarter worth $13,518,000. ERGOTELES LLC invested $5,713,000 in shares of FRO during the first quarter. In the first quarter, CAMBRIDGE INVESTMENT RESEARCH ADVISORS, INC. acquired a new stake in Frontline plc valued at approximately $4,247,000. DEUTSCHE BANK AG acquired a new stake in FRO for approximately $2,467,000. EA SERIES TRUST purchased a new stake in FRO valued at around $2,411,000 in the second quarter.
Frontline plc (NYSE: FRO) opened at $17.74 on Thursday. During the past 12 months, Frontline plc has had a low of $10.10 and a high of $19.29. The fifty day moving average price for FRO is $16.87 and a two-hundred day moving average price translates $15.49 for the stock.
The latest earnings results from Frontline plc (NYSE: FRO) was released for Jun, 2023. According to the Oil & Gas Midstream Company, earnings per share came in at $0.94, beating analysts’ expectations of $0.83 by 0.11. This compares to $0.25 EPS in the same period last year. The company reported revenue of $522.15 million for the quarter, compared to $300.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 73.64 percent. For the current quarter, analysts expect FRO to generate $250.45M 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 $2.72 dividend and a 15.22% 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 7.02%.
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.
