DZ Bank cut shares of Frontline (NYSE:FRO – Free Report) from a hold rating to a sell rating in a research note issued to investors on Friday, MarketBeat Ratings reports.
A number of other analysts have also weighed in on FRO. Pareto Securities lowered Frontline from a “buy” rating to a “hold” rating and set a $39.46 price objective for the company. in a research note on Monday, May 25th. Wall Street Zen lowered shares of Frontline from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings lowered shares of Frontline from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, August 12th. Danske cut shares of Frontline from a “hold” rating to a “sell” rating in a research report on Friday. Finally, 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 research note on Wednesday, June 24th. Four investment 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 data from MarketBeat.com, Frontline presently has an average rating of “Hold” and a consensus price target of $41.62.
Check Out Our Latest Stock Report on Frontline
Frontline Stock Performance
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of FRO. Sei Investments Co. bought a new stake in Frontline during the first quarter valued at about $948,000. Energy Income Partners LLC purchased a new position in shares of Frontline in the second quarter valued at about $1,202,000. Y Intercept Hong Kong Ltd bought a new position in shares of Frontline in the first quarter worth about $1,151,000. Renaissance Technologies LLC boosted its stake in shares of Frontline by 133.5% in the first quarter. Renaissance Technologies LLC now owns 927,838 shares of the shipping company’s stock worth $32,344,000 after acquiring an additional 530,500 shares during the period. Finally, WIT Partners Advisory Pte. Ltd. purchased a new stake in shares of Frontline during the first quarter worth about $5,214,000. 22.70% of the stock is owned by hedge funds and other 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.
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