Frontline (NYSE:FRO) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of Frontline (NYSE:FRO) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

Other research analysts have also issued reports about the stock. Weiss Ratings lowered shares of Frontline from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Evercore downgraded shares of Frontline from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Danske lowered shares of Frontline to a “hold” rating in a report on Tuesday, May 26th. BTIG Research upped their price objective on shares of Frontline from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Finally, Pareto Securities cut shares of Frontline from a “buy” rating to a “hold” rating and set a $39.46 price objective on the stock. in a research report on Monday, May 25th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $41.62.

Frontline Stock Performance

Shares of FRO stock opened at $41.20 on Friday. The company has a market cap of $9.17 billion, a price-to-earnings ratio of 10.15 and a beta of 0.02. Frontline has a 52 week low of $18.43 and a 52 week high of $43.10. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.83. The firm has a 50 day moving average of $38.30 and a 200-day moving average of $35.71.

Frontline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 12th were issued a $1.55 dividend. The ex-dividend date was Friday, June 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 15.0%. This is a boost from Frontline’s previous quarterly dividend of $1.03. Frontline’s dividend payout ratio (DPR) is currently 152.71%.

Institutional Trading of Frontline

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRO. Fiduciary Financial Advisors purchased a new position in shares of Frontline during the second quarter valued at approximately $28,000. Assetmark Inc. grew its holdings in Frontline by 278.6% during the first quarter. Assetmark Inc. now owns 973 shares of the shipping company’s stock worth $34,000 after buying an additional 716 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in Frontline in the 4th quarter valued at $25,000. Parallel Advisors LLC raised its position in Frontline by 58.9% in the 1st quarter. Parallel Advisors LLC now owns 1,311 shares of the shipping company’s stock valued at $46,000 after buying an additional 486 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in Frontline during the 2nd quarter valued at $48,000. 22.70% of the stock is owned by institutional investors.

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.