Frontline PLC $FRO is GSA Capital Partners LLP’s 10th Largest Position

GSA Capital Partners LLP boosted its holdings in shares of Frontline PLC (NYSE:FRO) by 96.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 167,957 shares of the shipping company’s stock after acquiring an additional 82,248 shares during the quarter. Frontline accounts for 0.3% of GSA Capital Partners LLP’s portfolio, making the stock its 10th biggest holding. GSA Capital Partners LLP owned about 0.08% of Frontline worth $3,665,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Personalized Indexing Management LLC lifted its holdings 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 worth $335,000 after buying an additional 418 shares during the period. Cantor Fitzgerald L. P. lifted its holdings 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 worth $880,000 after buying an additional 430 shares during the period. Integrated Wealth Concepts LLC lifted its holdings 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 worth $369,000 after buying an additional 552 shares during the period. TD Asset Management Inc lifted its holdings 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 worth $415,000 after buying an additional 1,084 shares during the period. Finally, Pictet Asset Management Holding SA lifted its holdings 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 worth $647,000 after buying an additional 1,203 shares during the period. 22.70% of the stock is currently owned by hedge funds and other institutional investors.

Frontline Trading Up 3.0%

Frontline stock opened at $37.76 on Tuesday. The stock has a 50-day moving average of $35.22 and a two-hundred day moving average of $29.46. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.19 and a current ratio of 1.43. Frontline PLC has a one year low of $16.25 and a one year high of $39.89. The stock has a market cap of $8.41 billion, a PE ratio of 22.21 and a beta of 0.04.

Frontline (NYSE:FRO) last announced its quarterly earnings data on Saturday, February 28th. The shipping company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.10). The firm had revenue of $624.51 million during the quarter, compared to analyst estimates of $456.90 million. Frontline had a net margin of 19.31% and a return on equity of 16.51%. The firm’s revenue for the quarter was up 46.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 earnings per share.

Frontline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, March 12th were issued a $1.03 dividend. This is a boost from Frontline’s previous quarterly dividend of $0.19. This represents a $4.12 dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date of this dividend was Thursday, March 12th. Frontline’s dividend payout ratio is currently 242.35%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Piper Sandler cut Frontline to a “neutral” rating in a report on Friday, February 27th. Dnb Carnegie cut Frontline from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Frontline in a report on Friday, March 27th. Evercore cut Frontline from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, Wall Street Zen upgraded Frontline from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Frontline presently has an average rating of “Hold” and an average target price of $39.00.

About Frontline

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.