Shares of Frontline Ltd. (NYSE:FRO) rose 2.3% during mid-day trading on Thursday . The stock traded as high as $7.94 and last traded at $7.89, with a volume of 540,151 shares trading hands. The stock had previously closed at $7.71.

FRO has been the subject of several research reports. Zacks Investment Research raised shares of Frontline from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a research report on Monday, May 16th. Clarkson Capital reaffirmed a “buy” rating on shares of Frontline in a report on Friday, June 17th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Frontline in a report on Tuesday, May 31st. Morgan Stanley reaffirmed a “hold” rating on shares of Frontline in a report on Wednesday, June 1st. Finally, Seaport Global Securities assumed coverage on shares of Frontline in a report on Wednesday, May 4th. They set a “neutral” rating and a $9.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Frontline presently has a consensus rating of “Hold” and an average price target of $13.13.

The firm has a 50-day moving average price of $8.32 and a 200 day moving average price of $9.02. The company has a market cap of $1.22 billion and a P/E ratio of 4.58.

Frontline (NYSE:FRO) last announced its earnings results on Tuesday, May 31st. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.19. On average, analysts predict that Frontline Ltd. will post $1.34 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 20th. Investors of record on Monday, June 13th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, June 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 20.43%. This is a positive change from Frontline’s previous quarterly dividend of $0.05.

Other institutional investors have made changes to their positions in the company. American Century Companies Inc. increased its position in shares of Frontline by 0.7% in the fourth quarter. American Century Companies Inc. now owns 473,130 shares of the company’s stock worth $1,415,000 after buying an additional 3,247 shares in the last quarter. Marshall Wace LLP increased its position in Frontline by 16.2% in the fourth quarter. Marshall Wace LLP now owns 1,275,617 shares of the company’s stock worth $3,814,000 after buying an additional 177,371 shares during the period. California State Teachers Retirement System increased its position in Frontline by 124.9% in the fourth quarter. California State Teachers Retirement System now owns 442,374 shares of the company’s stock worth $1,323,000 after buying an additional 245,700 shares during the period. Morgan Stanley increased its position in Frontline by 499.8% in the fourth quarter. Morgan Stanley now owns 471,214 shares of the company’s stock worth $1,408,000 after buying an additional 392,655 shares during the period. Finally, Swiss National Bank purchased a new position in Frontline during the fourth quarter worth about $1,367,000.

Frontline Ltd. is a shipping company. The Company is engaged in the ownership and operation of oil tankers. The Company operates oil tankers of two sizes: very large crude carriers (VLCCs), which are between 200,000 and 320,000 deadweight tons, and Suezmax tankers, which are vessels between 120,000 and 170,000 deadweight tons.

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