Swiss National Bank held its position in shares of Frontline Ltd. (NYSE:FRO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,219 shares of the company’s stock at the end of the second quarter. Swiss National Bank owned about 0.07% of Frontline worth $889,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of FRO. Capital Fund Management S.A. bought a new position in shares of Frontline during the second quarter worth $129,000. Strs Ohio raised its position in shares of Frontline by 38.6% in the second quarter. Strs Ohio now owns 21,600 shares of the company’s stock worth $169,000 after buying an additional 6,020 shares in the last quarter. Palo Capital Inc. raised its position in shares of Frontline by 112.6% in the second quarter. Palo Capital Inc. now owns 51,358 shares of the company’s stock worth $404,000 after buying an additional 27,197 shares in the last quarter. A.R.T. Advisors LLC bought a new position in shares of Frontline during the first quarter worth $872,000. Finally, California State Teachers Retirement System raised its position in shares of Frontline by 34.8% in the second quarter. California State Teachers Retirement System now owns 136,246 shares of the company’s stock worth $1,072,000 after buying an additional 35,167 shares in the last quarter. 9.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Frontline Ltd. (NYSE:FRO) traded down 0.52% during trading on Friday, hitting $7.62. 391,081 shares of the company traded hands. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 4.99 and a beta of 2.30. Frontline Ltd. has a one year low of $6.80 and a one year high of $17.05. The firm has a 50 day moving average price of $7.50 and a 200-day moving average price of $7.96.
Frontline (NYSE:FRO) last released its earnings results on Wednesday, August 31st. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.18. Frontline had a net margin of 31.41% and a return on equity of 20.67%. Analysts predict that Frontline Ltd. will post $1.13 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Monday, September 12th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, September 8th. This represents a $0.80 annualized dividend and a yield of 10.44%.
A number of brokerages recently weighed in on FRO. Zacks Investment Research raised shares of Frontline from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research note on Wednesday, July 6th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Frontline in a research note on Tuesday, September 27th. Clarkson Capital reaffirmed a “buy” rating on shares of Frontline in a research note on Friday, June 17th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $7.00 target price (down from $10.00) on shares of Frontline in a research note on Friday, August 26th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Frontline has an average rating of “Hold” and a consensus target price of $11.90.
Frontline Ltd. is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. The Company operates through the tankers segment. The tankers segment includes crude oil tankers and product tankers. The Company operates through subsidiaries and partnerships located in Bermuda, India, the Philippines, Liberia, Norway, the United Kingdom and Singapore.
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