Frontline Ltd. (FRO) : Traders are bullish on Frontline Ltd. (FRO) as it has outperformed the S&P 500 by a wide margin of 4.15% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.97%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.03% in the last 1 week, and is up 5.22% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 3.91% and the 50-Day Moving Average is 1.56%. Frontline Ltd. (NYSE:FRO): stock turned positive on Friday. Though the stock opened at $8.18, the bulls momentum made the stock top out at $8.2998 level for the day. The stock recorded a low of $8.17 and closed the trading day at $8.26, in the green by 1.35%. The total traded volume for the day was 902,215. The stock had closed at $8.15 in the previous days trading.
The company Insiders own 48.08% of Frontline Ltd. shares according to the proxy statements. Institutional Investors own 8.46% of Frontline Ltd. shares. Also, Equity Analysts at the Brokerage Firm, Seaport Global, assumes their rating on the shares of Frontline Ltd. (NYSE:FRO). Seaport Global has a Neutral rating on the shares. As per the latest report, the brokerage house announces the price target to $9 per share. The rating by the firm was issued on May 4, 2016.
Frontline Ltd. is a shipping company. The Company is engaged in the ownership and operation of oil tankers. The Company operates oil tankers of two sizes: very large crude carriers (VLCCs), which are between 200,000 and 320,000 deadweight tons, and Suezmax tankers, which are vessels between 120,000 and 170,000 deadweight tons. The Company operates through subsidiaries and partnerships located in the Bahamas, Bermuda, the Cayman Islands, India, the Isle of Man, Liberia, Norway, the United Kingdom and Singapore. It is also involved in the charter, purchase and sale of vessels. As of December 31, 2014, the Companys tanker fleet consisted of 22 vessels and consists of 14 VLCCs (excluding the four vessels in the Windsor group) and eight Suezmax tankers, of which one Suezmax, Front Ull, is owned and the remaining 21 are chartered in.