In yesterday’s Wall Street session, Frontline plc (NYSE:FRO) shares traded at $15.99, down -4.31% from the previous session.
As of this writing, 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 $16.71, this indicates a potential upside of 37.4 percent. FRO stock price is now -4.12% away from the 50-day moving average and 3.87% away from the 200-day moving average. The market capitalization of the company currently stands at $3.41B.
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There are 5 analysts who have given it a hold rating, whereas 10 have given it a buy rating. 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 $12,096,000. ERGOTELES LLC invested $5,112,000 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 $3,800,000. DEUTSCHE BANK AG acquired a new stake in FRO for approximately $2,208,000. EA SERIES TRUST purchased a new stake in FRO valued at around $2,157,000 in the second quarter. In total, there are 250 active investors with 21.10% ownership of the company’s stock.
Thursday morning saw Frontline plc (NYSE: FRO) opened at $16.08. 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 $16.70 and a two-hundred day moving average price translates $15.41 for the stock.
The latest earnings results from Frontline plc (NYSE: FRO) was released for Jun, 2023. 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.
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 $2.57 dividend and a 16.07% 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%.
