Frontline Ltd. (FRO) Stock Price Up 3.9%
Shares of Frontline Ltd. (NYSE:FRO) rose 3.9% during trading on Tuesday . The company traded as high as $8.77 and last traded at $8.77, with a volume of 1,139,796 shares changing hands. The stock had previously closed at $8.44.
FRO has been the topic of a number of analyst reports. Zacks Investment Research raised Frontline from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a research note on Monday, May 16th. Clarkson Capital reaffirmed a “buy” rating on shares of Frontline in a research note on Friday, June 17th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Frontline in a research note on Tuesday, May 31st. Morgan Stanley reaffirmed a “hold” rating on shares of Frontline in a research note on Wednesday, June 1st. Finally, Seaport Global Securities initiated coverage on Frontline in a research note on Wednesday, May 4th. They set a “neutral” rating and a $9.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $13.13.
The firm has a market cap of $1.37 billion and a PE ratio of 5.12. The stock has a 50 day moving average price of $7.96 and a 200 day moving average price of $8.31.
Frontline (NYSE:FRO) last announced its earnings results on Tuesday, May 31st. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.19. On average, equities research analysts predict that Frontline Ltd. will post $1.34 earnings per share for the current year.
A hedge fund recently bought a new stake in Frontline stock. Swiss National Bank acquired a new position in Frontline Ltd. (NYSE:FRO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 470,667 shares of the company’s stock, valued at approximately $1,367,000. Swiss National Bank owned about 0.19% of Frontline at the end of the most recent reporting period.
Frontline Ltd. is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. The Company operates through the tankers segment. The tankers segment includes crude oil tankers and product tankers. The Company operates through subsidiaries and partnerships located in Bermuda, India, the Philippines, Liberia, Norway, the United Kingdom and Singapore.
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