Leonteq Securities AG Makes New $362,000 Investment in Frontline PLC $FRO

Leonteq Securities AG bought a new position in shares of Frontline PLC (NYSE:FRO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 16,612 shares of the shipping company’s stock, valued at approximately $362,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Frontline by 2.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 14,717 shares of the shipping company’s stock valued at $335,000 after purchasing an additional 418 shares during the last quarter. Cantor Fitzgerald L. P. boosted its stake in shares of Frontline by 1.1% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 38,601 shares of the shipping company’s stock valued at $880,000 after purchasing an additional 430 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Frontline by 3.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 16,204 shares of the shipping company’s stock valued at $369,000 after purchasing an additional 552 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Frontline by 6.3% in the 3rd quarter. TD Asset Management Inc now owns 18,163 shares of the shipping company’s stock valued at $415,000 after purchasing an additional 1,084 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Frontline by 4.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 29,331 shares of the shipping company’s stock valued at $647,000 after purchasing an additional 1,203 shares during the last quarter. 22.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on FRO. Piper Sandler lowered shares of Frontline to a “neutral” rating in a research note on Friday, February 27th. Weiss Ratings raised shares of Frontline from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday. Wall Street Zen raised shares of Frontline from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Dnb Carnegie lowered shares of Frontline from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, Evercore lowered shares of Frontline from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Frontline Stock Down 3.4%

Frontline stock opened at $37.14 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.43 and a debt-to-equity ratio of 1.09. Frontline PLC has a 12-month low of $16.25 and a 12-month high of $39.89. The firm’s fifty day moving average is $35.49 and its 200 day moving average is $29.80. The company has a market capitalization of $8.27 billion, a PE ratio of 21.85 and a beta of 0.04.

Frontline (NYSE:FRO) last released its earnings results on Friday, May 22nd. The shipping company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.07. Frontline had a net margin of 19.31% and a return on equity of 16.51%. The company had revenue of $714.24 million for the quarter, compared to the consensus estimate of $579.59 million. During the same quarter in the previous year, the company earned $0.18 EPS. Frontline’s quarterly revenue was up 66.9% compared to the same quarter last year.

Frontline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 12th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 16.7%. This is a positive change from Frontline’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Friday, June 12th. Frontline’s payout ratio is 242.35%.

Frontline Profile

Frontline Ltd. (NYSE:FRO) is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company’s core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.

Frontline’s fleet is geared toward high-capacity, ocean-going tankers capable of carrying large volumes of crude oil over intercontinental distances.