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FRO
Strong Buy 
 25.00%
1 members
Buy 
 50.00%
2 members
Hold 
 25.00%
1 members
Sell 
 0.00%
0 members
Strong Sell 
 0.00%
0 members
 
Average rating: 2.00 (Strong Buy) 1.00 - 5.00 (Strong Sell) Total: 4 members

Annual growth of FRO:

NOTE: areas highlighted in blue indicate that this user is sharing the highlighted information with their private group ONLY

Dec. 7 2004, 9:47 PM ET
Nearest price: 282.25 (12/07/04)
by mjmulb (profile)
(all of mjmulb's ratings)
rating:
Hold

Much of the runup in the price was shared by FRO competition showing the dependence of the price on demand for oil. Since the expected economic growth and oil demand is built into the price further upward movement depends on positive suprises in growth projectons. Recent developements have pointed to a slowing to economic growth which probably accounts for the recent decline in the price.


DIRECT COMPETITORS FOR COMPARISON

GMR = General Maritime Corp
OSG = Overseas Shipholding Group Inc
TK = Teekay Shipping Corp

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Currently: 
 1 said yes (of 1 -- 100.00%)

 
Dec. 7 2004, 3:27 PM ET
Nearest price: 282.25 (12/07/04)
by WestWFA (profile)
(all of WestWFA's ratings)
rating:
Strong Buy
(Previous rating: Hold,
on Jun. 8 2004, 3:45 PM ET)
Update: Dec 6, late in the day after a $2 slide, FRO presents a good buying opportunity for a short term trade. Real time was $56.90 when I wrote this. All below still holds, but we are past SFL spinoff #3 and the $2.50 dividend.

Update: changing rating June 8 to HOLD as we approach the big dividend payout. Still like the stock, but do not expect it to gain as rapidly from the $38 level (pre $5 div). One of my best holdings for the past year... all hail X for first mentioning it. {Westy note - "hold" was dumb choice, but hold I did for 15k shares and then added in Nov}

Prior comments: Not just your father's thrift anymore!

Frontline: largest oil tanker company in the world, almostly completely double hulls, fleet includes Exxon Vadlez class + Suezmaxes. Lease rates for tankers are very high and FRO has booked virtually all time for the quarter so that they have quietly told folks they will post record earnings. Double hull is essential as they phase out single hull vessels (related to Spains oil tanker wreck) around the globe.

FRO also just had a whopping dividend that follows other strong dividends. There is a proposal to restructure the business creating a second entity. Very high crude prices will eventually have a dampening effect on oil demand which could be a negative. In the mean time, economies are strong enough to keep pushing up demand... especially related to Chine. Tanker construction will not solve the short term crunch as shipyards are heavily scheduled for container ships (remember world free trade is rising). FRO does not appear to be heavily followed.... well it did hit X's radar screen last summer and it is up over 100% since then. A little late to post this, but I think there is still a good amount of upside and I am buying more around $28.

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Currently: 
 3 said yes (of 3 -- 100.00%)

 
Oct. 5 2004, 10:58 AM ET
Nearest price: 261.70 (10/05/04)
by BEN (profile)
(all of BEN's ratings)
rating:
Buy
(Previous rating: Buy,
on Sep. 23 2004, 10:40 AM ET)
An macro event has taken place with the higher real price of oil in the world today. The increase in the pure revenue base generated from this event increases the pure profitability. Thus a change in valuation of the industry is correct. Ownership and management of the asset are in good hands. Corporate goal to pay out large % of earnings to shareholders. Institutional interest is just starting to appear.
A very good read on tankers
http://www.valueforum.com/forums/show.mpl?keywords=1095901341.23.4317447966429&so=200409 The valuation reminds me of buying some mutuals at 70% of book a number of years ago. All my studies indicate a real market value of $66 a share which should pay you a comfortable premium dividend return over the comparables of other risk based equity investments.

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Currently: 
 4 said yes (of 4 -- 100.00%)

 
Mar. 22 2004, 07:42 AM ET
Nearest price: 130.20 (03/22/04)
by Snowball (profile)
(all of Snowball's ratings)
rating:
Buy
[ No comment ]

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