GSA Capital Partners LLP Purchases 82,248 Shares of Frontline PLC $FRO

GSA Capital Partners LLP grew its position in Frontline PLC (NYSE:FRO) by 96.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 167,957 shares of the shipping company’s stock after purchasing an additional 82,248 shares during the period. Frontline makes up 0.3% of GSA Capital Partners LLP’s holdings, making the stock its 10th largest position. GSA Capital Partners LLP’s holdings in Frontline were worth $3,665,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FRO. Sunbelt Securities Inc. acquired a new position in shares of Frontline in the third quarter valued at about $41,000. Sound Income Strategies LLC purchased a new stake in shares of Frontline in the fourth quarter worth about $53,000. CIBC Private Wealth Group LLC acquired a new stake in Frontline during the third quarter worth about $80,000. Triumph Capital Management acquired a new stake in Frontline during the third quarter worth about $97,000. Finally, State of Wyoming acquired a new stake in Frontline during the second quarter worth about $105,000. 22.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on FRO shares. Piper Sandler lowered Frontline to a “neutral” rating in a report on Friday, February 27th. Evercore lowered Frontline from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Dnb Carnegie lowered Frontline from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. BTIG Research raised their target price on Frontline from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen raised Frontline from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $39.00.

Frontline Stock Performance

Shares of FRO stock opened at $37.76 on Tuesday. The company has a market capitalization of $8.41 billion, a P/E ratio of 22.21 and a beta of 0.04. The business’s 50 day moving average is $35.22 and its two-hundred day moving average is $29.46. The company has a current ratio of 1.43, a quick ratio of 1.19 and a debt-to-equity ratio of 1.09. Frontline PLC has a 12-month low of $16.25 and a 12-month high of $39.89.

Frontline (NYSE:FRO) last released its earnings results on Saturday, February 28th. The shipping company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.10). The firm had revenue of $624.51 million during the quarter, compared to analysts’ expectations of $456.90 million. Frontline had a net margin of 19.31% and a return on equity of 16.51%. The business’s revenue was up 46.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 EPS.

Frontline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, March 12th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 10.9%. This is a boost from Frontline’s previous quarterly dividend of $0.19. The ex-dividend date was Thursday, March 12th. Frontline’s dividend payout ratio (DPR) is 242.35%.

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.