Frontline PLC (NYSE:FRO) Receives $41.62 Average PT from Analysts

Frontline PLC (NYSE:FRO) has been assigned a consensus recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $41.6150.

Several research firms recently weighed in on FRO. Danske downgraded shares of Frontline to a “hold” rating in a report on Tuesday, May 26th. Weiss Ratings lowered Frontline from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 12th. BTIG Research raised their target price on shares of Frontline from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Pareto Securities cut Frontline from a “buy” rating to a “hold” rating and set a $39.46 target price for the company. in a research report on Monday, May 25th. Finally, Evercore downgraded shares of Frontline from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cozad Asset Management Inc. grew its stake in Frontline by 3.5% in the 1st quarter. Cozad Asset Management Inc. now owns 13,152 shares of the shipping company’s stock valued at $458,000 after buying an additional 445 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Frontline by 0.6% in the 4th quarter. Bank of Montreal Can now owns 73,544 shares of the shipping company’s stock worth $1,605,000 after purchasing an additional 460 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Frontline by 58.9% in the 1st quarter. Parallel Advisors LLC now owns 1,311 shares of the shipping company’s stock worth $46,000 after acquiring an additional 486 shares in the last quarter. NFSG Corp boosted its stake in Frontline by 50.0% in the first quarter. NFSG Corp now owns 1,500 shares of the shipping company’s stock worth $52,000 after purchasing an additional 500 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its position in Frontline by 3.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 16,204 shares of the shipping company’s stock worth $369,000 after buying an additional 552 shares in the last quarter. Institutional investors and hedge funds own 22.70% of the company’s stock.

Frontline Stock Performance

Shares of NYSE FRO opened at $42.17 on Tuesday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.83. Frontline has a 12-month low of $18.43 and a 12-month high of $43.10. The stock has a 50 day simple moving average of $38.44 and a 200-day simple moving average of $35.88. The company has a market cap of $9.39 billion, a PE ratio of 10.39 and a beta of 0.02.

Frontline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 12th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 14.7%. The ex-dividend date of this dividend was Friday, June 12th. This is a positive change from Frontline’s previous quarterly dividend of $1.03. Frontline’s dividend payout ratio (DPR) is presently 152.71%.

Frontline Company 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.