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

Key Points

• Frontline saw unusually high options activity, with investors acquiring 14,816 call options—154% above its average daily volume of 5,824 calls.
• Analyst sentiment is mixed: four analysts rate the stock Buy, four Hold and two Sell, resulting in a consensus Hold rating and a $41.62 target price.
• Frontline shares rose 0.8% to $44.10, near their 52-week high of $45.29, while institutional investors and hedge funds own 22.7% of the company.

Frontline PLC (NYSE:FRO - Get Free Report) was the target of some unusual options trading activity on Friday. Investors acquired 14,816 call options on the company. This represents an increase of 154% compared to the average daily volume of 5,824 call options.

Analyst Ratings Changes

FRO has been the topic of several recent analyst reports. Danske lowered shares of Frontline from a "hold" rating to a "sell" rating in a report on Friday, August 21st. BTIG Research boosted their target price on Frontline from $45.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. DZ Bank lowered Frontline from a "hold" rating to a "sell" rating in a research report on Friday, August 21st. Pareto Securities cut Frontline from a "buy" rating to a "hold" rating and set a $39.46 price objective for the company. in a research note on Monday, May 25th. Finally, Weiss Ratings downgraded Frontline from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $41.62.

Frontline Stock Up 0.8%

Shares of FRO stock traded up $0.35 during trading on Friday, reaching $44.10. The company's stock had a trading volume of 2,162,622 shares, compared to its average volume of 3,240,852. Frontline has a 1-year low of $20.31 and a 1-year high of $45.29. The stock's 50-day moving average price is $39.25 and its 200 day moving average price is $36.72. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 10.86 and a beta of 0.02. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 2.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fiduciary Financial Advisors purchased a new position in Frontline in the second quarter valued at $28,000. Assetmark Inc. boosted its stake in Frontline by 278.6% during the 1st quarter. Assetmark Inc. now owns 973 shares of the shipping company's stock worth $34,000 after purchasing an additional 716 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in Frontline during the 4th quarter worth approximately $25,000. Parallel Advisors LLC boosted its holdings in shares of Frontline by 58.9% in the first quarter. Parallel Advisors LLC now owns 1,311 shares of the shipping company's stock valued at $46,000 after acquiring an additional 486 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new position in Frontline in the second quarter worth $48,000. Institutional investors and hedge funds own 22.70% of the company's stock.

About Frontline

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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