13,300 Shares in Frontline PLC $FRO Acquired by Manatuck Hill Partners LLC

Manatuck Hill Partners LLC bought a new position in shares of Frontline PLC (NYSE:FRO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 13,300 shares of the shipping company’s stock, valued at approximately $290,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cantor Fitzgerald L. P. raised its holdings in Frontline by 1.1% during the third quarter. Cantor Fitzgerald L. P. now owns 38,601 shares of the shipping company’s stock worth $880,000 after purchasing an additional 430 shares in the last quarter. Bank of Montreal Can raised its holdings in Frontline by 0.6% during the fourth quarter. Bank of Montreal Can now owns 73,544 shares of the shipping company’s stock worth $1,605,000 after purchasing an additional 460 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Frontline by 3.5% during the third quarter. Integrated Wealth Concepts LLC now owns 16,204 shares of the shipping company’s stock worth $369,000 after purchasing an additional 552 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Frontline by 6.3% in the third quarter. TD Asset Management Inc now owns 18,163 shares of the shipping company’s stock valued at $415,000 after buying an additional 1,084 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new position in shares of Frontline in the fourth quarter valued at $25,000. Institutional investors own 22.70% of the company’s stock.

Frontline Price Performance

NYSE FRO opened at $38.83 on Thursday. The stock has a market capitalization of $8.64 billion, a P/E ratio of 9.56 and a beta of 0.02. Frontline PLC has a 1 year low of $16.25 and a 1 year high of $40.17. The business’s fifty day moving average is $36.47 and its two-hundred day moving average is $31.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.03 and a current ratio of 2.03.

Frontline (NYSE:FRO) last posted its quarterly earnings results on Friday, May 22nd. The shipping company reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.03). Frontline had a net margin of 36.70% and a return on equity of 27.80%. The company had revenue of $714.24 million during the quarter, compared to the consensus estimate of $579.59 million. During the same period in the prior year, the company posted $0.18 EPS. Frontline’s quarterly revenue was up 66.9% on a year-over-year basis.

Frontline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 12th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 16.0%. The ex-dividend date is Friday, June 12th. This is a positive change from Frontline’s previous quarterly dividend of $1.03. Frontline’s dividend payout ratio is presently 152.71%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Evercore cut Frontline from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Dnb Carnegie cut Frontline from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Wall Street Zen raised Frontline from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Pareto Securities cut Frontline from a “buy” rating to a “hold” rating and set a $39.46 price target on the stock. in a report on Monday, May 25th. Finally, Danske cut Frontline to a “hold” rating in a report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Frontline currently has an average rating of “Hold” and a consensus target price of $39.12.

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.