Frontline Ltd. (NYSE:FRO) traded down 3.6% on Thursday . The stock 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.

Several equities research analysts have weighed in on the company. Clarkson Capital reissued a “buy” rating on shares of Frontline in a research note on Friday, June 17th. Seaport Global Securities assumed 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. Zacks Investment Research raised Frontline from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research note on Wednesday. Credit Suisse Group AG reissued a “hold” rating on shares of Frontline in a research note on Tuesday, May 31st. Finally, Morgan Stanley reissued a “hold” rating on shares of Frontline in a research note on Wednesday, June 1st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.13.

The firm has a market cap of $1.18 billion and a PE ratio of 4.40. The company’s 50-day moving average price is $8.31 and its 200-day moving average price is $9.16.

Frontline (NYSE:FRO) last issued its quarterly earnings results on Tuesday, May 31st. The company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.19. Equities analysts forecast that Frontline Ltd. will post $1.27 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, June 20th. Investors of record on Monday, June 13th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 21.25%. This is a boost from Frontline’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, June 9th.

A number of hedge funds and institutional investors recently modified their holdings of the stock. California State Teachers Retirement System raised its position in shares of 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 $1,367,000. Morgan Stanley raised 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. American Century Companies Inc. raised 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 during the period. Finally, Marshall Wace LLP raised 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.

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.