5 Energy Dividend Stocks with Over 2% Yield

3. Frontline Ltd. (NYSE: FRO)

Number of Hedge Fund Holders: 10
Dividend Yield: 6.9%

Frontline Ltd. (NYSE: FRO) is a shipping company working for the seaborne transportation of crude oil and oil products across the globe. The company owns and operates oil and product tankers and ranks 3rd on our list of energy dividend stocks with over 2% yield.

Danske Bank just this June upgraded shares of Frontline Ltd. (NYSE: FRO) from Hold to Buy. Analyst Anders Karlsen led the move, while also placing a $9.70 price target on the shares.

In the first quarter of 2021, Frontline Ltd. (NYSE: FRO) had an EPS of $0.04, beating estimates by $0.12. The company’s revenue was $107.11 million, also beating estimates by $11.91 million. Frontline Ltd. (NYSE: FRO) has gained 15.63% year to date.

By the end of the first quarter of 2021, 10 hedge funds out of the 866 tracked by Insider Monkey held stakes in Frontline Ltd. (NYSE: FRO) worth roughly $10.6 million. This is compared to 6 hedge funds in the previous quarter with a total stake value of approximately $47.6 million.