Frontline plc (NYSE:FRO) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Frontline plc (NYSE:FRO) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $24.03.

A number of brokerages have issued reports on FRO. Kepler Capital Markets cut Frontline from a “buy” rating to a “hold” rating and set a $15.83 price objective for the company. in a report on Thursday, December 12th. Jefferies Financial Group dropped their target price on shares of Frontline from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th.

Frontline Stock Down 3.8 %

Shares of FRO opened at $15.37 on Friday. Frontline has a 12 month low of $13.17 and a 12 month high of $29.39. The stock has a market cap of $3.42 billion and a price-to-earnings ratio of 6.27. The company has a 50-day moving average price of $16.41 and a two-hundred day moving average price of $19.28. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.44.

Frontline (NYSE:FRO) last posted its earnings results on Wednesday, November 27th. The shipping company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). Frontline had a return on equity of 19.25% and a net margin of 25.64%. During the same period in the prior year, the company posted $0.36 EPS. Equities analysts predict that Frontline will post 1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Frontline

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cooper Creek Partners Management LLC acquired a new position in shares of Frontline during the fourth quarter worth approximately $41,447,000. Hartree Partners LP raised its position in Frontline by 482.6% in the 4th quarter. Hartree Partners LP now owns 1,061,000 shares of the shipping company’s stock worth $15,047,000 after purchasing an additional 878,885 shares during the last quarter. Mirabella Financial Services LLP acquired a new position in Frontline during the 4th quarter worth $9,224,000. Marshall Wace LLP boosted its position in Frontline by 137.2% in the 4th quarter. Marshall Wace LLP now owns 1,090,427 shares of the shipping company’s stock valued at $15,473,000 after buying an additional 630,685 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Frontline by 1,326.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 527,470 shares of the shipping company’s stock valued at $12,053,000 after buying an additional 490,486 shares during the period. Institutional investors and hedge funds own 22.70% of the company’s stock.

Frontline Company Profile

Frontline plc, a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2022, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Limassol, Cyprus.