7.46 -0.14 (-1.84%)
Pre-Market: 5:00AM EDT
|Bid||7.49 x 1100|
|Ask||7.50 x 900|
|Day's Range||7.57 - 7.75|
|52 Week Range||4.46 - 9.54|
|Beta (3Y Monthly)||0.61|
|PE Ratio (TTM)||28.79|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Crude prices jumped over 3 percent in early trading on June 13 following attacks on two tankers in the Gulf of Oman – coming a month after four tankers were sabotaged in the same region. Fears of a wider conflict between the U.S. and Iran and a potential blockage of the Strait of Hormuz are intensifying. Just as the threat of U.S. tariffs on Chinese containerized imports caused a surge of pre-emptive volumes in the second half of last year, the threat of the Strait of Hormuz being closed could cause crude importers to scramble to lock in cargoes now.
Two tankers in the Gulf of Oman suffered significant fire damage, one of which docked in Saudi Arabia and was destined to Singapore, according to CNBC. The other tanker, owned by Frontline Ltd (NYSE: FRO), was carrying a petrochemical feedstock from the Persian Gulf to Japan. One of the tankers, the Kokuka Courageous, is stranded 14 nautical miles off the cost of Iran although the tanker's owner confirmed there is no risk of sinking.
DUBAI/WASHINGTON, June 13 (Reuters) - The United States blamed Iran for attacks on two oil tankers in the Gulf of Oman on Thursday that drove up oil prices and raised concerns about a new U.S.-Iranian confrontation, but Tehran bluntly denied the allegation. It was not immediately clear what befell the Norwegian-owned Front Altair or the Japanese-owned Kokuka Courageous, which both experienced explosions, forcing crews to abandon ship and leave the vessels adrift in waters between Gulf Arab states and Iran.
Frontline Ltd NYSE:FROView full report here! Summary * Bearish sentiment is low * Economic output in this company's sector is contracting Bearish sentimentShort interest | PositiveShort interest is low for FRO with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NeutralETF activity is neutral. The net inflows of $379 million over the last one-month into ETFs that hold FRO are not among the highest of the last year and have been slowing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managersâ€™ Index (PMI) data, output in the Industrialsis falling. The rate of decline is very significant relative to the trend shown over the past year, and is accelerating. The rate of contraction may ease in the coming months, however. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Today we'll look at Frontline Ltd. (NYSE:FRO) and reflect on its potential as an investment. Specifically, we'll...
Frontline (FRO) delivered earnings and revenue surprises of 12.50% and -5.04%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?
On a per-share basis, the Hamilton, Bermuda-based company said it had profit of 24 cents. Earnings, adjusted for non-recurring costs, came to 27 cents per share. The results exceeded Wall Street expectations. ...
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Does Frontline Ltd (NYSE:FRO) represent a good buying opportunity at the moment? Let’s briefly check the hedge fund interest towards the company. Hedge fund firms constantly search out bright intellectuals and highly-experienced employees and throw away millions of dollars on satellite photos and other research activities, so it is no wonder why they tend to […]
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