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Chart of the Day: Frontline - Shipping Oil Worldwide
The Chart of the Day belongs to the petroleum shipping company Frontline (FRO) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 9/25 the stock gained 21.63%
Frontline plc, a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2022, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Limassol, Cyprus
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 81.00+ Weighted Alpha
- 74.26% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 13 new highs and up 21.56% in the last month
- Relative Strength Index 74.03%
- Technical support level at $21.83
- Recently traded at $22.27 with 50 day moving average of $18.50
Fundamental Factors:
- Market Cap $4.96 billion
- P/E 6.80
- Dividend yield 11.54%
- Revenue expected to grow another 16.10% next year
- Earning estimated to increase 86.10% this year
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 3 strong buy,1 buy, and 4 hold opinions on the stock
- Analysts' price targets are between $17 and $24
- The individual investors following the stock on Motley Fool voted 1,464 to 94 for the stock to beat the market with the more experienced investors voting 143 to 13 for the same result
- Value Line rates the stock an above average of 2 with a price target of $28
- CFRAs MarketScope rates it buy
- 26,200 investors monitor the stock on Seeking Alpha and the analysts they follow have a consensus price target pf $116
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten had a position in: FRO. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
