Csenge Advisory Group Acquires New Shares in Frontline PLC $FRO

Csenge Advisory Group bought a new stake in shares of Frontline PLC (NYSE:FRO) during the second quarter, Holdings Channel.com reports. The fund bought 13,331 shares of the shipping company’s stock, valued at approximately $464,000.

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

Frontline Stock Performance

NYSE FRO opened at $43.53 on Friday. Frontline PLC has a 52-week low of $19.45 and a 52-week high of $45.17. The company has a fifty day moving average of $38.88 and a 200-day moving average of $36.20. The company has a market capitalization of $9.69 billion, a P/E ratio of 10.72 and a beta of 0.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.03 and a current ratio of 2.03.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FRO. Pareto Securities downgraded shares of Frontline from a “buy” rating to a “hold” rating and set a $39.46 price target on the stock. in a report on Monday, May 25th. BTIG Research increased their target price on shares of Frontline from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Wall Street Zen lowered shares of Frontline from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings cut shares of Frontline from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, August 12th. Finally, Danske downgraded Frontline to a “hold” rating in a research report on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Frontline currently has a consensus rating of “Hold” and an average price target of $41.62.

About Frontline

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.