Deutsche Bank AG Invests $20.97 Million in Frontline PLC $FRO

Key Points

• Deutsche Bank acquired 602,730 Frontline shares worth approximately $20.97 million in the second quarter, giving it a 0.27% stake. Other institutional investors also initiated positions, bringing institutional ownership to 22.70%.
• Analyst sentiment is mixed: Frontline has a consensus “Hold” rating from 10 analysts and an average price target of $41.62, despite BTIG raising its target to $55.
• Frontline shares opened at $43.67, near their 52-week high of $45.17. The tanker company has a market capitalization of approximately $9.72 billion and operates VLCC, Suezmax and Aframax vessels.

Deutsche Bank AG purchased a new stake in Frontline PLC (NYSE:FRO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 602,730 shares of the shipping company's stock, valued at approximately $20,969,000. Deutsche Bank AG owned approximately 0.27% of Frontline as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FRO. Perigon Wealth Management LLC purchased a new position in Frontline during the second quarter valued at approximately $542,000. Global Retirement Partners LLC purchased a new stake in Frontline in the second quarter valued at approximately $48,000. Bank of New York Mellon Corp purchased a new stake in Frontline in the second quarter valued at approximately $10,651,000. ABN AMRO Bank N.V. bought a new stake in Frontline during the second quarter valued at approximately $504,000. Finally, GSA Capital Partners LLP bought a new stake in Frontline during the second quarter valued at approximately $3,536,000. 22.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FRO shares. Weiss Ratings lowered shares of Frontline from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, August 12th. DZ Bank downgraded shares of Frontline from a "hold" rating to a "sell" rating in a report on Friday. BTIG Research upped their target price 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. Pareto Securities lowered shares of 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, Wall Street Zen cut Frontline from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Frontline presently has a consensus rating of "Hold" and a consensus target price of $41.62.

Frontline Stock Performance

NYSE:FRO opened at $43.67 on Friday. The business has a 50 day moving average of $38.97 and a 200 day moving average of $36.25. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 10.76 and a beta of 0.02. Frontline PLC has a 1-year low of $19.87 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.

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.

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