Frontline Target of Unusually Large Options Trading (NYSE:FRO)

Frontline PLC (NYSE:FRO) saw some unusual options trading on Wednesday. Stock traders acquired 14,659 call options on the stock. This represents an increase of approximately 74% compared to the typical daily volume of 8,401 call options.

Frontline Trading Down 1.3%

Shares of NYSE FRO opened at $37.90 on Thursday. Frontline has a 1-year low of $18.04 and a 1-year high of $43.10. The stock has a market capitalization of $8.44 billion, a P/E ratio of 9.33 and a beta of 0.01. 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 business has a fifty day moving average price of $37.36 and a 200 day moving average price of $33.50.

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

Frontline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 12th were issued a $1.55 dividend. This is a boost from Frontline’s previous quarterly dividend of $1.03. This represents a $6.20 annualized dividend and a yield of 16.4%. The ex-dividend date of this dividend was Friday, June 12th. Frontline’s dividend payout ratio is 152.71%.

Analyst Ratings Changes

A number of analysts recently weighed in on FRO shares. BTIG Research increased their price objective on shares of Frontline from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Wall Street Zen raised shares of Frontline from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Weiss Ratings raised shares of Frontline from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, May 22nd. Pareto Securities lowered Frontline from a “buy” rating to a “hold” rating and set a $39.46 price target for the company. in a report on Monday, May 25th. Finally, Evercore cut Frontline from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Frontline presently has an average rating of “Hold” and an average price target of $41.62.

Institutional Trading of Frontline

Several large investors have recently added to or reduced their stakes in FRO. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Frontline during the fourth quarter worth about $25,000. Assetmark Inc. increased its holdings in Frontline by 278.6% in the 1st quarter. Assetmark Inc. now owns 973 shares of the shipping company’s stock worth $34,000 after buying an additional 716 shares during the period. Sunbelt Securities Inc. purchased a new position in Frontline during the 3rd quarter worth approximately $41,000. Parallel Advisors LLC raised its position in Frontline by 58.9% during the 1st quarter. Parallel Advisors LLC now owns 1,311 shares of the shipping company’s stock worth $46,000 after buying an additional 486 shares during the last quarter. Finally, NFSG Corp lifted its stake in Frontline by 50.0% during the 1st quarter. NFSG Corp now owns 1,500 shares of the shipping company’s stock valued at $52,000 after acquiring an additional 500 shares during the period. Hedge funds and other 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.