Williams Jones & Associates LLC bought a new position in shares of Frontline Ltd (NYSE:FRO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,700 shares of the shipping company’s stock, valued at approximately $134,000.

Several other large investors have also modified their holdings of the business. BlackRock Inc. increased its holdings in shares of Frontline by 2.9% in the 4th quarter. BlackRock Inc. now owns 3,739,119 shares of the shipping company’s stock worth $20,678,000 after acquiring an additional 105,778 shares during the period. Deutsche Bank AG increased its holdings in shares of Frontline by 130.7% in the 4th quarter. Deutsche Bank AG now owns 740,715 shares of the shipping company’s stock worth $4,094,000 after acquiring an additional 419,702 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Frontline by 1.6% in the 4th quarter. Bank of New York Mellon Corp now owns 262,884 shares of the shipping company’s stock worth $1,454,000 after acquiring an additional 4,172 shares during the period. Odey Asset Management Group Ltd increased its holdings in shares of Frontline by 2,276.9% in the 4th quarter. Odey Asset Management Group Ltd now owns 3,422,053 shares of the shipping company’s stock worth $18,924,000 after acquiring an additional 3,278,079 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Frontline by 44.1% in the 4th quarter. Rhumbline Advisers now owns 109,083 shares of the shipping company’s stock worth $603,000 after acquiring an additional 33,361 shares during the period. 18.83% of the stock is currently owned by institutional investors.

A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Frontline from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. TheStreet raised shares of Frontline from a “d+” rating to a “c-” rating in a report on Monday, May 20th. Morgan Stanley reaffirmed a “hold” rating on shares of Frontline in a report on Friday, February 15th. Finally, ValuEngine raised shares of Frontline from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $7.30.

Frontline stock traded down $0.33 during trading hours on Friday, hitting $7.66. 20,496 shares of the company traded hands, compared to its average volume of 732,004. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -54.86, a PEG ratio of 3.46 and a beta of 1.17. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.40. Frontline Ltd has a 1-year low of $4.46 and a 1-year high of $9.54.

Frontline (NYSE:FRO) last released its earnings results on Thursday, May 16th. The shipping company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.03. The firm had revenue of $140.76 million for the quarter, compared to analysts’ expectations of $148.24 million. Frontline had a net margin of 5.52% and a return on equity of 3.08%. During the same quarter last year, the company earned ($0.08) EPS. Research analysts expect that Frontline Ltd will post 0.42 earnings per share for the current fiscal year.

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Frontline Profile

Frontline Ltd., a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2018, the company's fleet consisted of 61 vessels, which included very large crude carrier, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.

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Institutional Ownership by Quarter for Frontline (NYSE:FRO)

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