Frontline Ltd. (FRO) Shares Up 2.3%
Frontline Ltd. (NYSE:FRO) shares were up 2.3% during trading on Thursday . The company 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.
A number of research analysts have commented on FRO shares. Seaport Global Securities started coverage on shares of Frontline in a research report on Wednesday, May 4th. They set a “neutral” rating and a $9.00 price target on the stock. Zacks Investment Research upgraded shares of Frontline from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research report on Monday, May 16th. Morgan Stanley reiterated a “hold” rating on shares of Frontline in a research report on Wednesday, June 1st. Credit Suisse Group AG reiterated a “hold” rating on shares of Frontline in a research report on Tuesday, May 31st. Finally, Clarkson Capital reiterated a “buy” rating on shares of Frontline in a research report on Friday, June 17th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Frontline presently has an average rating of “Hold” and an average target price of $13.13.
The company has a market capitalization of $1.23 billion and a PE ratio of 4.59. The firm’s 50 day moving average price is $8.32 and its 200-day moving average price is $8.96.
Frontline (NYSE:FRO) last posted its quarterly earnings results on Tuesday, May 31st. The company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.19. On average, equities research analysts forecast that Frontline Ltd. will post $1.34 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 20th. Investors of record on Monday, June 13th were issued a $0.40 dividend. The ex-dividend date was Thursday, June 9th. This is a boost from Frontline’s previous quarterly dividend of $0.05. This represents a $1.60 dividend on an annualized basis and a yield of 20.38%.
A number of hedge funds and institutional investors have bought and sold shares of the company. American Century Companies Inc. boosted its position in 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 boosted 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 in the last quarter. California State Teachers Retirement System boosted 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 in the last quarter. Swiss National Bank acquired a new position in Frontline during the fourth quarter worth approximately $1,367,000. Finally, Morgan Stanley boosted 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 in the last quarter.
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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