16,555 Shares in Frontline PLC $FRO Acquired by 111 Capital

111 Capital purchased a new stake in Frontline PLC (NYSE:FRO) in the 4th quarter, HoldingsChannel reports. The fund purchased 16,555 shares of the shipping company’s stock, valued at approximately $365,000.

Other hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. purchased a new stake in shares of Frontline in the 3rd quarter valued at approximately $41,000. Sound Income Strategies LLC acquired a new position in Frontline in the 4th quarter valued at approximately $53,000. CIBC Private Wealth Group LLC acquired a new position in Frontline in the 3rd quarter valued at approximately $80,000. Triumph Capital Management acquired a new position in Frontline in the 3rd quarter valued at approximately $97,000. Finally, State of Wyoming acquired a new position in Frontline in the 2nd quarter valued at approximately $105,000. Hedge funds and other institutional investors own 22.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FRO. Pareto Securities lowered shares of Frontline from a “buy” rating to a “hold” rating and set a $39.46 price objective on the stock. in a research note on Monday, May 25th. Piper Sandler lowered shares of Frontline to a “neutral” rating in a research note on Friday, February 27th. Weiss Ratings upgraded shares of Frontline from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, May 22nd. Evercore lowered shares of Frontline from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, Dnb Carnegie lowered shares of Frontline from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Frontline has a consensus rating of “Hold” and an average target price of $39.12.

Frontline Price Performance

NYSE FRO opened at $35.20 on Friday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.83. The company has a fifty day simple moving average of $36.04 and a 200 day simple moving average of $30.57. The company has a market cap of $7.84 billion, a P/E ratio of 8.67 and a beta of 0.02. Frontline PLC has a 1 year low of $16.25 and a 1 year high of $39.89.

Frontline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 12th will be issued a $1.55 dividend. This is a boost from Frontline’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Friday, June 12th. This represents a $6.20 dividend on an annualized basis and a yield of 17.6%. Frontline’s payout ratio is currently 101.48%.

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.