Frontline PLC $FRO Shares Purchased by Kiker Wealth Management LLC

Kiker Wealth Management LLC grew its position in shares of Frontline PLC (NYSE:FRO) by 839.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,926 shares of the shipping company’s stock after acquiring an additional 83,926 shares during the quarter. Frontline comprises 1.1% of Kiker Wealth Management LLC’s portfolio, making the stock its 17th biggest position. Kiker Wealth Management LLC’s holdings in Frontline were worth $2,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FRO. Marshall Wace LLP increased its position in Frontline by 155.1% during the 2nd quarter. Marshall Wace LLP now owns 1,692,537 shares of the shipping company’s stock worth $27,775,000 after purchasing an additional 1,029,034 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in Frontline by 28.3% during the second quarter. Balyasny Asset Management L.P. now owns 1,560,908 shares of the shipping company’s stock worth $25,614,000 after buying an additional 344,706 shares during the period. SG Americas Securities LLC increased its position in shares of Frontline by 20.6% in the third quarter. SG Americas Securities LLC now owns 1,058,260 shares of the shipping company’s stock worth $24,118,000 after acquiring an additional 180,731 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Frontline by 27.3% in the second quarter. The Manufacturers Life Insurance Company now owns 942,698 shares of the shipping company’s stock worth $15,477,000 after acquiring an additional 202,142 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Frontline by 10.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 739,786 shares of the shipping company’s stock valued at $12,142,000 after acquiring an additional 69,152 shares during the period. 22.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FRO has been the topic of several research reports. BTIG Research raised their price objective on Frontline from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Frontline in a report on Monday, December 29th. Jefferies Financial Group boosted their price target on Frontline from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Clarkson Capital upgraded Frontline from a “neutral” rating to a “buy” rating in a report on Monday. Finally, Wall Street Zen upgraded shares of Frontline from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.62.

Frontline Trading Up 0.7%

NYSE:FRO opened at $25.17 on Tuesday. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 25.68 and a beta of 0.08. Frontline PLC has a one year low of $12.40 and a one year high of $26.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.37 and a current ratio of 1.37. The business’s 50-day simple moving average is $23.28 and its 200 day simple moving average is $21.77.

Frontline (NYSE:FRO) last posted its quarterly earnings data on Friday, November 21st. The shipping company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.04). The business had revenue of $257.04 million for the quarter, compared to analysts’ expectations of $265.23 million. Frontline had a return on equity of 8.89% and a net margin of 12.23%.During the same quarter in the prior year, the firm earned $0.34 earnings per share. As a group, sell-side analysts predict that Frontline PLC will post 1.78 earnings per share for the current fiscal year.

Frontline Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 12th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, December 12th. Frontline’s dividend payout ratio is 77.55%.

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.