40,774 Shares in Frontline PLC $FRO Acquired by Quantbot Technologies LP

Quantbot Technologies LP bought a new stake in Frontline PLC (NYSE:FRO) in the 2nd quarter, HoldingsChannel reports. The firm bought 40,774 shares of the shipping company’s stock, valued at approximately $1,419,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Allworth Financial LP purchased a new position in shares of Frontline during the 2nd quarter worth $50,000. Csenge Advisory Group purchased a new stake in shares of Frontline in the second quarter valued at about $464,000. Energy Income Partners LLC purchased a new stake in shares of Frontline in the second quarter valued at about $1,202,000. BlackRock Inc. acquired a new stake in Frontline during the second quarter worth about $50,846,000. Finally, Deutsche Bank AG acquired a new stake in Frontline during the second quarter worth about $20,969,000. 22.70% of the stock is owned by institutional investors and hedge funds.

Frontline Stock Performance

NYSE:FRO opened at $43.38 on Wednesday. Frontline PLC has a fifty-two week low of $19.87 and a fifty-two week high of $45.17. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.03 and a current ratio of 2.03. The company has a 50 day moving average price of $39.14 and a 200 day moving average price of $36.52. The stock has a market capitalization of $9.66 billion, a P/E ratio of 10.69 and a beta of 0.02.

Wall Street Analyst Weigh In

FRO has been the topic of several recent analyst reports. Danske lowered shares of Frontline from a “hold” rating to a “sell” rating in a report on Friday. DZ Bank downgraded shares of Frontline from a “hold” rating to a “sell” rating in a report on Friday, August 21st. Weiss Ratings lowered shares of Frontline from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, August 12th. Wall Street Zen cut Frontline from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Finally, BTIG Research increased their price objective on Frontline from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.62.

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.