Fieldview Capital Management LLC Buys Shares of 29,700 Frontline PLC $FRO

Fieldview Capital Management LLC bought a new stake in shares of Frontline PLC (NYSE:FRO) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 29,700 shares of the shipping company’s stock, valued at approximately $648,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cantor Fitzgerald L. P. raised 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 worth $880,000 after buying an additional 430 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Frontline by 0.6% in the 4th quarter. Bank of Montreal Can now owns 73,544 shares of the shipping company’s stock worth $1,605,000 after buying an additional 460 shares in the last quarter. Integrated Wealth Concepts LLC raised 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 worth $369,000 after buying an additional 552 shares in the last quarter. TD Asset Management Inc raised 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 worth $415,000 after buying an additional 1,084 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised 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 worth $647,000 after buying an additional 1,203 shares in the last quarter. Institutional investors own 22.70% of the company’s stock.

Frontline Stock Performance

Shares of NYSE FRO opened at $39.43 on Tuesday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 9.71 and a beta of 0.02. The stock’s fifty day simple moving average is $36.37 and its 200 day simple moving average is $31.12. Frontline PLC has a 52-week low of $16.25 and a 52-week high of $39.89.

Frontline (NYSE:FRO) last issued its earnings results on Friday, May 22nd. The shipping company reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.03). The company had revenue of $714.24 million during the quarter, compared to analyst estimates of $579.59 million. Frontline had a return on equity of 27.80% and a net margin of 36.70%.The business’s revenue was up 66.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share.

Frontline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 12th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 15.7%. The ex-dividend date is Friday, June 12th. This is a positive change from Frontline’s previous quarterly dividend of $1.03. Frontline’s payout ratio is presently 152.71%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FRO. Danske downgraded Frontline to a “hold” rating in a research note on Tuesday, May 26th. BTIG Research boosted their price objective on Frontline from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Wall Street Zen raised Frontline from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Dnb Carnegie downgraded Frontline from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, Piper Sandler downgraded Frontline to a “neutral” rating in a research note on Friday, February 27th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $39.12.

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.