GSA Capital Partners LLP Has $3.83 Million Holdings in Frontline PLC (NYSE:FRO)

GSA Capital Partners LLP trimmed its holdings in shares of Frontline PLC (NYSE:FRO) by 26.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 257,924 shares of the shipping company’s stock after selling 93,510 shares during the quarter. Frontline accounts for 0.3% of GSA Capital Partners LLP’s portfolio, making the stock its 5th biggest position. GSA Capital Partners LLP’s holdings in Frontline were worth $3,830,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FRO. Charles Schwab Investment Management Inc. raised its stake in shares of Frontline by 65.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 71,972 shares of the shipping company’s stock worth $1,021,000 after buying an additional 28,478 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Frontline during the fourth quarter worth approximately $241,000. Vanguard Group Inc. raised its stake in shares of Frontline by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 5,493,085 shares of the shipping company’s stock worth $75,502,000 after buying an additional 51,073 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Frontline by 13.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 19,900 shares of the shipping company’s stock valued at $274,000 after purchasing an additional 2,313 shares in the last quarter. Finally, Summit Financial LLC bought a new stake in Frontline in the fourth quarter valued at approximately $2,060,000. 22.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FRO has been the subject of several research analyst reports. Wall Street Zen lowered shares of Frontline from a “hold” rating to a “sell” rating in a report on Sunday, July 6th. Evercore ISI decreased their price target on shares of Frontline from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.62.

Frontline Stock Up 3.6%

Shares of FRO stock opened at $19.18 on Tuesday. The firm has a fifty day moving average of $18.17 and a 200-day moving average of $17.01. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.44. Frontline PLC has a 12-month low of $12.40 and a 12-month high of $25.68. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 12.29 and a beta of 0.25.

Frontline (NYSE:FRO) last released its earnings results on Friday, May 23rd. The shipping company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $427.87 million during the quarter, compared to the consensus estimate of $252.26 million. Frontline had a net margin of 17.67% and a return on equity of 12.67%. The firm’s revenue for the quarter was down 26.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. As a group, equities research analysts predict that Frontline PLC will post 1.78 earnings per share for the current fiscal year.

Frontline Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, June 24th. Investors of record on Friday, June 13th were given a $0.18 dividend. This represents a yield of 3.97%. The ex-dividend date was Thursday, June 12th. Frontline’s dividend payout ratio (DPR) is currently 46.15%.

Frontline 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.