771,966 Shares in Frontline PLC $FRO Bought by Cooper Creek Partners Management LLC

Cooper Creek Partners Management LLC acquired a new position in Frontline PLC (NYSE:FRO) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 771,966 shares of the shipping company’s stock, valued at approximately $26,911,000.

A number of other institutional investors have also recently bought and sold shares of FRO. Vanguard Group Inc. grew its stake in Frontline by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,903,785 shares of the shipping company’s stock valued at $129,966,000 after purchasing an additional 63,432 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Frontline by 4,659.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,783,681 shares of the shipping company’s stock worth $202,080,000 after purchasing an additional 5,662,172 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of Frontline by 44.0% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,247,120 shares of the shipping company’s stock worth $51,212,000 after purchasing an additional 686,212 shares during the period. UBS Group AG boosted its holdings in shares of Frontline by 18.2% in the 4th quarter. UBS Group AG now owns 1,411,265 shares of the shipping company’s stock worth $30,794,000 after buying an additional 217,760 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Frontline by 27.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 942,698 shares of the shipping company’s stock worth $15,477,000 after buying an additional 202,142 shares during the last quarter. Institutional investors own 22.70% of the company’s stock.

Frontline Trading Up 1.0%

Shares of FRO opened at $39.25 on Friday. Frontline PLC has a fifty-two week low of $18.26 and a fifty-two week high of $43.10. The business has a 50-day moving average of $37.36 and a 200 day moving average of $34.21. The firm has a market cap of $8.74 billion, a P/E ratio of 9.67 and a beta of 0.01. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.03 and a current ratio of 2.03.

Frontline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 12th were paid a $1.55 dividend. The ex-dividend date was Friday, June 12th. This is a positive change from Frontline’s previous quarterly dividend of $1.03. This represents a $6.20 annualized dividend and a dividend yield of 15.8%. Frontline’s dividend payout ratio is 152.71%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Pareto Securities lowered shares of Frontline from a “buy” rating to a “hold” rating and set a $39.46 price target for the company. in a research report on Monday, May 25th. Evercore lowered shares of Frontline from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Weiss Ratings upgraded shares of Frontline from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, May 22nd. Danske downgraded shares of Frontline to a “hold” rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen raised shares of Frontline from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Frontline presently has an average rating of “Hold” and a consensus target price of $41.62.

Frontline Profile

Frontline Ltd. (NYSE:FRO) is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company’s core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.

Frontline’s fleet is geared toward high-capacity, ocean-going tankers capable of carrying large volumes of crude oil over intercontinental distances.