Carolina Wealth Advisors LLC Grows Stock Holdings in Frontline PLC $FRO

Carolina Wealth Advisors LLC lifted its position in Frontline PLC (NYSE:FRO) by 1,008.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 86,573 shares of the shipping company’s stock after buying an additional 78,765 shares during the quarter. Frontline accounts for approximately 1.2% of Carolina Wealth Advisors LLC’s portfolio, making the stock its 23rd biggest position. Carolina Wealth Advisors LLC’s holdings in Frontline were worth $3,012,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of FRO. Royal Bank of Canada increased its stake in Frontline by 32.3% during the first quarter. Royal Bank of Canada now owns 26,342 shares of the shipping company’s stock worth $392,000 after purchasing an additional 6,424 shares during the period. Millennium Management LLC purchased a new stake in Frontline during the 1st quarter worth approximately $7,587,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Frontline by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 185,226 shares of the shipping company’s stock worth $2,751,000 after buying an additional 20,370 shares in the last quarter. American Century Companies Inc. boosted its position in Frontline by 93.6% in the 2nd quarter. American Century Companies Inc. now owns 72,539 shares of the shipping company’s stock valued at $1,190,000 after buying an additional 35,078 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Frontline by 215.8% in the second quarter. Invesco Ltd. now owns 91,039 shares of the shipping company’s stock worth $1,494,000 after acquiring an additional 62,210 shares in the last quarter. 22.70% of the stock is owned by institutional investors and hedge funds.

Frontline Stock Performance

NYSE FRO opened at $38.44 on Tuesday. The company has a fifty day moving average of $37.88 and a two-hundred day moving average of $35.38. The company has a market capitalization of $8.56 billion, a PE ratio of 9.47 and a beta of 0.02. Frontline PLC has a 1 year low of $18.26 and a 1 year high of $43.10. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 2.03.

Frontline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 12th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 16.1%. This is a positive change from Frontline’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, June 12th. Frontline’s dividend payout ratio is presently 152.71%.

Analysts Set New Price Targets

FRO has been the topic of several analyst reports. Evercore cut Frontline from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Pareto Securities downgraded Frontline from a “buy” rating to a “hold” rating and set a $39.46 price objective for the company. in a research report on Monday, May 25th. BTIG Research upped their target price on shares of Frontline from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Danske downgraded shares of Frontline to a “hold” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen raised shares of Frontline from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus 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.