Euronav NV (NASDAQ:EURN) Position Cut by UBS Group AG

UBS Group AG decreased its stake in shares of Euronav NV (NASDAQ:EURN) by 90.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 83,386 shares of the shipping company’s stock after selling 767,581 shares during the period. UBS Group AG owned 0.05% of Euronav NV worth $659,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in EURN. Doheny Asset Management CA raised its stake in shares of Euronav NV by 161.3% in the first quarter. Doheny Asset Management CA now owns 1,118,320 shares of the shipping company’s stock valued at $8,835,000 after buying an additional 690,370 shares in the last quarter. FMR LLC raised its stake in shares of Euronav NV by 45.3% in the first quarter. FMR LLC now owns 3,083,015 shares of the shipping company’s stock valued at $24,658,000 after buying an additional 961,865 shares in the last quarter. M Holdings Securities Inc. raised its stake in shares of Euronav NV by 2.0% in the fourth quarter. M Holdings Securities Inc. now owns 112,900 shares of the shipping company’s stock valued at $898,000 after buying an additional 2,200 shares in the last quarter. Swiss National Bank raised its stake in shares of Euronav NV by 2.8% in the first quarter. Swiss National Bank now owns 209,883 shares of the shipping company’s stock valued at $1,681,000 after buying an additional 5,691 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Euronav NV by 121.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,501 shares of the shipping company’s stock valued at $188,000 after buying an additional 12,895 shares during the period.

Shares of Euronav NV (NASDAQ:EURN) traded up 0.72% during trading on Friday, reaching $6.95. The company’s stock had a trading volume of 807,131 shares. The stock has a market cap of $1.10 billion and a price-to-earnings ratio of 18.34. The company has a 50 day moving average of $7.72 and a 200-day moving average of $7.80. Euronav NV has a 12-month low of $6.65 and a 12-month high of $9.51.

The business also recently disclosed a semiannual dividend, which will be paid on Thursday, October 5th. Stockholders of record on Tuesday, September 26th will be paid a $0.06 dividend. This represents a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, September 25th.

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EURN has been the subject of several recent research reports. Zacks Investment Research raised Euronav NV from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a report on Monday, June 26th. BidaskClub upgraded Euronav NV from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. ValuEngine downgraded Euronav NV from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. TheStreet upgraded Euronav NV from a “d+” rating to a “c-” rating in a research report on Tuesday, July 25th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $8.00 price target on shares of Euronav NV in a research report on Friday, July 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $9.50.

Euronav NV Company Profile

Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the ocean transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of April 4, 2017, it owned and operated a fleet of 55 double hulled vessels, including 31 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 2 Suezmax vessels under construction.

Institutional Ownership by Quarter for Euronav NV (NASDAQ:EURN)

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