Zacks Investment Research cut shares of Euronav NV (NASDAQ:EURN) from a hold rating to a strong sell rating in a report published on Tuesday morning.
According to Zacks, “Euronav is a tanker company. It owns, operates and manages a fleet of vessels for the transportation and storage of crude oil and petroleum products. The company also offers ship management services. It operates primarily in Europe and Asia. Euronav is headquartered in Antwerp, Belgium. “
A number of other brokerages have also commented on EURN. ValuEngine raised shares of Euronav NV from a sell rating to a hold rating in a report on Monday, October 2nd. BidaskClub lowered shares of Euronav NV from a hold rating to a sell rating in a research note on Thursday, September 28th. TheStreet raised shares of Euronav NV from a d+ rating to a c- rating in a research note on Tuesday, July 25th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $8.00 target price on shares of Euronav NV in a research note on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Euronav NV currently has a consensus rating of Hold and a consensus target price of $9.63.
Euronav NV (NASDAQ:EURN) opened at 8.05 on Tuesday. The firm has a market capitalization of $1.27 billion and a price-to-earnings ratio of 21.24. The stock has a 50 day moving average of $7.98 and a 200 day moving average of $7.98. Euronav NV has a 12-month low of $6.65 and a 12-month high of $8.55.
The business also recently announced a semiannual dividend, which was paid on Thursday, October 5th. Shareholders of record on Tuesday, September 26th were issued a dividend of $0.06 per share. The ex-dividend date was Monday, September 25th. This represents a yield of 1.61%.
Several hedge funds and other institutional investors have recently bought and sold shares of EURN. Cubist Systematic Strategies LLC grew its stake in shares of Euronav NV by 41.8% in the second quarter. Cubist Systematic Strategies LLC now owns 13,218 shares of the shipping company’s stock valued at $104,000 after buying an additional 3,895 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in shares of Euronav NV in the second quarter valued at $138,000. M&T Bank Corp grew its stake in shares of Euronav NV by 78.0% in the first quarter. M&T Bank Corp now owns 22,003 shares of the shipping company’s stock valued at $174,000 after buying an additional 9,642 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of Euronav NV by 88.2% in the first quarter. Parametric Portfolio Associates LLC now owns 28,265 shares of the shipping company’s stock valued at $223,000 after buying an additional 13,247 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Euronav NV during the first quarter worth $285,000.
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.
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