SG Americas Securities LLC Acquires New Holdings in Frontline PLC $FRO

SG Americas Securities LLC bought a new position in shares of Frontline PLC (NYSE:FRO) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 16,536 shares of the shipping company’s stock, valued at approximately $576,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. acquired a new position in Frontline in the 4th quarter valued at approximately $25,000. Sunbelt Securities Inc. acquired a new position in shares of Frontline during the third quarter worth $41,000. Sound Income Strategies LLC bought a new stake in shares of Frontline in the fourth quarter worth $53,000. CIBC Private Wealth Group LLC bought a new stake in shares of Frontline in the third quarter worth $80,000. Finally, Triumph Capital Management acquired a new stake in Frontline in the third quarter valued at $97,000. 22.70% of the stock is owned by institutional investors.

Frontline Price Performance

Shares of NYSE FRO opened at $37.63 on Wednesday. The company has a market capitalization of $8.38 billion, a PE ratio of 9.27 and a beta of 0.01. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.83. Frontline PLC has a twelve month low of $17.72 and a twelve month high of $43.10. The firm has a fifty day simple moving average of $37.25 and a 200 day simple moving average of $32.82.

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

Frontline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 12th were paid a dividend of $1.55 per share. This is an increase from Frontline’s previous quarterly dividend of $1.03. This represents a $6.20 annualized dividend and a yield of 16.5%. The ex-dividend date of this dividend was Friday, June 12th. Frontline’s payout ratio is 152.71%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Evercore lowered Frontline from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Wall Street Zen raised Frontline from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 27th. BTIG Research raised their price objective on Frontline from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Danske lowered Frontline to a “hold” rating in a research note on Tuesday, May 26th. Finally, Pareto Securities cut Frontline from a “buy” rating to a “hold” rating and set a $39.46 target price on the stock. in a report on Monday, May 25th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Frontline currently has an average rating of “Hold” and an average price target of $41.62.

Frontline Company 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.