Frontline Ltd. (NYSE:FRO) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $5.50.
FRO has been the topic of several research reports. Zacks Investment Research raised shares of Frontline from a “sell” rating to a “hold” rating in a research report on Monday, November 27th. Seaport Global Securities set a $7.00 price objective on shares of Frontline and gave the stock a “buy” rating in a research report on Thursday, January 4th. ValuEngine downgraded shares of Frontline from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Finally, DNB Markets raised shares of Frontline from a “hold” rating to a “buy” rating in a research report on Tuesday, March 6th.
Shares of Frontline (NYSE:FRO) traded up $0.13 during trading on Tuesday, reaching $4.52. 511,541 shares of the company’s stock traded hands, compared to its average volume of 705,293. Frontline has a 52 week low of $3.79 and a 52 week high of $7.15. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.45 and a quick ratio of 1.47. The stock has a market cap of $5,870.00, a P/E ratio of -0.37 and a beta of 1.89.
Several large investors have recently modified their holdings of FRO. Northern Trust Corp boosted its holdings in shares of Frontline by 197.8% in the second quarter. Northern Trust Corp now owns 1,795,843 shares of the shipping company’s stock valued at $10,290,000 after acquiring an additional 1,192,899 shares in the last quarter. Evermore Global Advisors LLC boosted its holdings in shares of Frontline by 30.3% in the third quarter. Evermore Global Advisors LLC now owns 5,037,514 shares of the shipping company’s stock valued at $30,427,000 after acquiring an additional 1,170,522 shares in the last quarter. Folketrygdfondet boosted its holdings in shares of Frontline by 49.1% in the third quarter. Folketrygdfondet now owns 1,914,988 shares of the shipping company’s stock valued at $11,567,000 after acquiring an additional 630,992 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Frontline by 61.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,437,640 shares of the shipping company’s stock valued at $6,599,000 after acquiring an additional 547,537 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Frontline in the fourth quarter valued at about $2,263,000. 14.41% of the stock is currently owned by institutional investors and hedge funds.
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Frontline Ltd. is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. Its tankers segment includes crude oil tankers and product tankers. As of December 31, 2016, the Company’s fleet consisted of 28 vessels owned by the Company (seven very large crude carriers (VLCCs), 10 Suezmax tankers and 11 Aframax/LR2 tankers); 13 vessels that are under capital leases (11 VLCCs and two Suezmax tankers); one VLCC that is recorded as an investment in finance lease; four vessels chartered-in for periods of 12 months, including extension options (two VLCCs and two Suezmax tankers); two VLCCs where cost/revenue is split equally with a third party (of which one is chartered-in by it and one by a third party); three medium range product tankers that are chartered-in on short term time charters with a remaining duration of less than two months, and five vessels that are under commercial management (two Suezmax tankers and three Aframax oil tankers).
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