Frontline stock hits 52-week high on oil price surge

Frontline stock climbed 4.5% in morning trading on Thursday to $55.465, reaching a new 52-week high. The gain came as crude oil prices jumped following reports of increased geopolitical tensions in the Middle East.

The Trump administration directed the Pentagon to prepare strike options against Iran ahead of the November midterm elections, according to reports. The news pushed WTI crude prices higher during the day. Tanker operators typically benefit from oil trade disruption and rerouting activity.

BTIG maintained a Buy rating on Frontline on September 18 and raised its price target to $70 from $55. The firm cited updated views on post-conflict tanker demand, inventory restocking by major Asian crude importers, and revised earnings assumptions.

Frontline reported record profitability in its second quarter 2026 results in late August, driven by elevated charter rates. Management guided for sustained market strength through 2028, supported by limited new vessel supply.

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