Taking the lead: Frontline plc (FRO)

Frontline plc (NYSE: FRO) stock jumped 0.42% on Thursday to $14.35 against a previous-day closing price of $14.29. With 2.59 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.8 million shares. During the session, the Oil & Gas Midstream company that operates in wider Energy sector, reached to the highest price of $14.52 whereas the lowest price it dropped to was $14.31. The 52-week range on FRO shows that it touched its highest point at $19.29 and its lowest point at $7.51 during that stretch. It currently has a 1-year price target of $23.00. With its current market cap of 3.13 billion, FRO has annualized dividend of $1.22 while the current yield stands at 8.50%. Beta for the stock currently stands at 0.24.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FRO was down-trending over the past week, with a drop of -0.97%, but this was down by -5.65% over a month. Three-month performance dropped to -20.45% while six-month performance rose 1.20%. The stock gained 49.64% in the past year, while it has gained 18.20% so far this year. A look at the trailing 12-month EPS for FRO yields 2.15 with Next year EPS estimates of 2.45. For the next quarter, that number is 0.96. This implies an EPS growth rate of 80.40% for this year and -14.05% for next year.

Float and Shares Shorts:

At present, 222.25 million FRO shares are outstanding with a float of 142.78 million shares on hand for trading. On May 14, 2023, short shares totaled 9.88 million, which was 4.44% higher than short shares on Apr 13, 2023. In addition to Mr. Lars H. Barstad as the firm’s Chief Exec. Officer of Frontline Management AS, Ms. Inger Marie Klemp serves as its Chief Financial Officer of Frontline Management AS.

Institutional Ownership:

Through their ownership of 53.00% of FRO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 23.91% of FRO, in contrast to 13.25% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in FRO with 3.79% of the stake, Folketrygdfondet holds 8,445,664 shares worth 8,445,664. A second-largest stockholder of FRO, BlackRock Fund Advisors, holds 5,476,569 shares, controlling over 2.46% of the firm’s shares. Two Sigma Advisers LP is the third largest shareholder in FRO, holding 4,684,450 shares or 2.10% stake. With a 1.19% stake in FRO, the iShares Russell 2000 ETF is the largest stakeholder. A total of 2,638,122 shares are owned by the mutual fund manager. The BNY Mellon Natural Resources Fund, which owns about 0.63% of FRO stock, is the second-largest Mutual Fund holder. It holds 1,410,119 shares valued at 21.81 million. iShares Russell 2000 Value ETF holds 0.57% of the stake in FRO, owning 1,258,950 shares worth 19.48 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Dec 30, 2022, FRO reported revenue of $300.44M and operating income of $62.83M. The EBITDA in the recently reported quarter was $106.71M and diluted EPS was $0.23.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FRO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With FRO analysts setting a high price target of $34.00 and a low target of $16.01, the average target price over the next 12 months is $22.04. Based on these targets, FRO could surge 136.93% to reach the target high and rise by 11.57% to reach the target low. Reaching the average price target will result in a growth of 53.59% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

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