SeaCrest Wealth Management LLC Has $1.12 Million Stock Holdings in Frontline plc (NYSE:FRO)

SeaCrest Wealth Management LLC increased its position in shares of Frontline plc (NYSE:FRO) by 11.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,175 shares of the shipping company’s stock after acquiring an additional 5,000 shares during the period. SeaCrest Wealth Management LLC’s holdings in Frontline were worth $1,124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of FRO. Summit Securities Group LLC grew its position in Frontline by 75.0% in the second quarter. Summit Securities Group LLC now owns 1,400 shares of the shipping company’s stock worth $36,000 after acquiring an additional 600 shares in the last quarter. Cozad Asset Management Inc. raised its holdings in Frontline by 6.4% during the second quarter. Cozad Asset Management Inc. now owns 12,976 shares of the shipping company’s stock valued at $334,000 after buying an additional 785 shares in the last quarter. TD Asset Management Inc raised its holdings in Frontline by 9.7% during the second quarter. TD Asset Management Inc now owns 9,840 shares of the shipping company’s stock valued at $258,000 after buying an additional 871 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Frontline in the second quarter worth about $31,000. Finally, Redhawk Wealth Advisors Inc. boosted its stake in shares of Frontline by 6.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 25,675 shares of the shipping company’s stock worth $587,000 after acquiring an additional 1,608 shares in the last quarter. Institutional investors and hedge funds own 22.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FRO shares. Evercore ISI cut their price objective on Frontline from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 23rd. StockNews.com upgraded shares of Frontline to a “sell” rating in a research note on Thursday, September 5th. Jefferies Financial Group reiterated a “buy” rating and issued a $30.00 target price on shares of Frontline in a research note on Friday, August 30th. BTIG Research raised shares of Frontline from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, October 7th. Finally, Fearnley Fonds raised Frontline to a “strong-buy” rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.06.

Frontline Price Performance

Shares of Frontline stock opened at $21.90 on Thursday. The firm has a fifty day moving average price of $23.43 and a two-hundred day moving average price of $24.48. Frontline plc has a fifty-two week low of $18.34 and a fifty-two week high of $29.39. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $4.87 billion, a PE ratio of 7.66 and a beta of 0.04.

Frontline (NYSE:FRO) last released its earnings results on Friday, August 30th. The shipping company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.03). The firm had revenue of $409.72 million for the quarter, compared to analyst estimates of $383.88 million. Frontline had a return on equity of 19.73% and a net margin of 29.42%. During the same period last year, the business earned $0.94 earnings per share. Analysts expect that Frontline plc will post 2.62 EPS for the current year.

Frontline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 11.33%. Frontline’s payout ratio is 86.71%.

Frontline 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.