Shares of Frontline Ltd. (NYSE:FRO) fell 3.6% during mid-day trading on Thursday . The company traded as low as $7.27 and last traded at $7.30, with a volume of 1,164,167 shares traded. The stock had previously closed at $7.57.

A number of brokerages have recently issued reports on FRO. Zacks Investment Research lowered Frontline from a “buy” rating to a “hold” rating in a research report on Friday, June 3rd. Credit Suisse Group AG reissued a “hold” rating on shares of Frontline in a report on Tuesday, May 31st. Morgan Stanley reissued a “hold” rating on shares of Frontline in a report on Wednesday, June 1st. Clarkson Capital reissued a “buy” rating on shares of Frontline in a report on Friday, June 17th. Finally, Seaport Global Securities began coverage on Frontline in a report on Wednesday, May 4th. They issued a “neutral” rating and a $9.00 price objective for the company. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.13.

The company’s 50-day moving average is $8.33 and its 200-day moving average is $9.23. The company has a market capitalization of $1.14 billion and a P/E ratio of 4.24.

Frontline (NYSE:FRO) last issued its quarterly earnings data on Tuesday, May 31st. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.19. On average, equities research analysts predict that Frontline Ltd. will post $1.33 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, June 20th. Shareholders of record on Monday, June 13th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 22.04%. The ex-dividend date of this dividend was Thursday, June 9th. This is a boost from Frontline’s previous quarterly dividend of $0.05.

A number of large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP boosted its stake 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. Morgan Stanley boosted its stake 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. Oceanic Investment Management LTD purchased a new stake in Frontline during the fourth quarter worth about $12,904,000. Swiss National Bank purchased a new stake in Frontline during the fourth quarter worth about $1,367,000. Finally, American Century Companies Inc. boosted its stake 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 during the period.

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.