Csenge Advisory Group Purchases Shares of 13,331 Frontline PLC $FRO

Csenge Advisory Group acquired a new position in shares of Frontline PLC (NYSE:FRO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,331 shares of the shipping company’s stock, valued at approximately $464,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FRO. Vanguard Group Inc. boosted its position in shares of Frontline by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,903,785 shares of the shipping company’s stock valued at $129,966,000 after buying an additional 63,432 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Frontline by 4,659.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,783,681 shares of the shipping company’s stock valued at $202,080,000 after buying an additional 5,662,172 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in Frontline by 44.0% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,247,120 shares of the shipping company’s stock valued at $51,212,000 after acquiring an additional 686,212 shares in the last quarter. BlackRock Inc. bought a new position in Frontline during the 2nd quarter valued at $50,846,000. Finally, UBS Group AG lifted its stake in Frontline by 18.2% during the 4th quarter. UBS Group AG now owns 1,411,265 shares of the shipping company’s stock valued at $30,794,000 after acquiring an additional 217,760 shares in the last quarter. 22.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Frontline from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 12th. Danske lowered shares of Frontline to a “hold” rating in a research report on Tuesday, May 26th. BTIG Research raised their price target on shares of Frontline from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Wall Street Zen cut shares of Frontline from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Pareto Securities downgraded shares of Frontline from a “buy” rating to a “hold” rating and set a $39.46 price objective for the company. in a research report on Monday, May 25th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $41.62.

Frontline Trading Down 2.1%

Shares of Frontline stock opened at $43.53 on Friday. The firm has a market cap of $9.69 billion, a PE ratio of 10.72 and a beta of 0.02. Frontline PLC has a 1 year low of $19.45 and a 1 year high of $45.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a fifty day moving average price of $38.88 and a 200-day moving average price of $36.20.

About Frontline

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.