Frontline (NYSE:FRO) Shares Cross Above 200-Day Moving Average – Should You Sell?

Frontline PLC (NYSE:FRO)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $30.54 and traded as high as $34.66. Frontline shares last traded at $34.1540, with a volume of 2,186,806 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. BTIG Research lifted their target price on Frontline from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Danske downgraded Frontline to a “hold” rating in a research report on Tuesday, May 26th. Evercore downgraded Frontline from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Pareto Securities downgraded Frontline from a “buy” rating to a “hold” rating and set a $39.46 target price for the company. in a research report on Monday, May 25th. Finally, Dnb Carnegie downgraded Frontline from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.12.

Frontline Stock Performance

The firm has a market capitalization of $7.60 billion, a P/E ratio of 8.41 and a beta of 0.02. The firm has a 50-day moving average price of $36.01 and a two-hundred day moving average price of $30.54. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 2.03.

Frontline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 12th will be issued a $1.55 dividend. The ex-dividend date is Friday, June 12th. 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 18.2%. Frontline’s dividend payout ratio is presently 152.71%.

Institutional Trading of Frontline

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Frontline by 2.9% in the third quarter. Vanguard Group Inc. now owns 5,840,353 shares of the shipping company’s stock valued at $133,738,000 after acquiring an additional 164,776 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Frontline by 185.8% in the third quarter. Citigroup Inc. now owns 606,443 shares of the shipping company’s stock valued at $13,821,000 after acquiring an additional 394,226 shares in the last quarter. Melqart Asset Management UK Ltd bought a new stake in shares of Frontline in the third quarter valued at about $437,000. UBS Group AG raised its holdings in shares of Frontline by 18.2% in the fourth 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. Finally, Armor Advisors L.L.C. raised its holdings in shares of Frontline by 10.5% in the third quarter. Armor Advisors L.L.C. now owns 210,332 shares of the shipping company’s stock valued at $4,793,000 after acquiring an additional 20,000 shares in the last quarter. 22.70% of the stock is currently owned by institutional investors.

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.