Frontline (NYSE:FRO) Stock Price Down 6.4% – Should You Sell?

Shares of Frontline PLC (NYSE:FRO) were down 6.4% during mid-day trading on Friday . The stock traded as low as $36.04 and last traded at $36.00. 1,813,653 shares traded hands during trading, a decline of 50% from the average session volume of 3,607,385 shares. The stock had previously closed at $38.47.

Analysts Set New Price Targets

FRO has been the subject of a number of research reports. Pareto Securities lowered Frontline from a “buy” rating to a “hold” rating and set a $39.46 target price for the company. in a research note on Monday, May 25th. Wall Street Zen upgraded shares of Frontline from a “buy” rating to a “strong-buy” rating in a report on Saturday. BTIG Research lifted their target price on shares of Frontline from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday. Danske cut shares of Frontline to a “hold” rating in a research report on Tuesday, May 26th. Finally, Evercore downgraded Frontline from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Frontline presently has an average rating of “Hold” and an average price target of $41.62.

Frontline Price Performance

The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.83. The firm has a market cap of $7.90 billion, a P/E ratio of 8.74 and a beta of 0.02. The company has a fifty day moving average price of $37.19 and a two-hundred day moving average price of $32.10.

Frontline (NYSE:FRO) last posted its earnings results on Friday, May 22nd. The shipping company reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.03). The business had revenue of $714.24 million for the quarter, compared to the consensus estimate of $579.59 million. Frontline had a return on equity of 27.80% and a net margin of 36.70%.Frontline’s revenue for the quarter was up 66.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share.

Frontline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 12th were given a dividend of $1.55 per share. This is an increase from Frontline’s previous quarterly dividend of $1.03. This represents a $6.20 annualized dividend and a dividend yield of 17.5%. The ex-dividend date of this dividend was Friday, June 12th. Frontline’s payout ratio is currently 152.71%.

Institutional Investors Weigh In On Frontline

Several institutional investors have recently bought and sold shares of FRO. Cantor Fitzgerald L. P. boosted its position in Frontline by 1.1% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 38,601 shares of the shipping company’s stock worth $880,000 after acquiring an additional 430 shares during the last quarter. Cozad Asset Management Inc. boosted its holdings in Frontline by 3.5% during the first quarter. Cozad Asset Management Inc. now owns 13,152 shares of the shipping company’s stock worth $458,000 after purchasing an additional 445 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Frontline by 0.6% in the 4th quarter. Bank of Montreal Can now owns 73,544 shares of the shipping company’s stock valued at $1,605,000 after acquiring an additional 460 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Frontline by 58.9% in the first quarter. Parallel Advisors LLC now owns 1,311 shares of the shipping company’s stock valued at $46,000 after acquiring an additional 486 shares during the last quarter. Finally, NFSG Corp boosted its position in Frontline by 50.0% during the first quarter. NFSG Corp now owns 1,500 shares of the shipping company’s stock valued at $52,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 22.70% of the company’s stock.

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.