Euronav NV (EURN) Upgraded to “Hold” at Zacks Investment Research

Euronav NV (NASDAQ:EURN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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. “

Several other analysts also recently weighed in on the stock. ValuEngine downgraded shares of Euronav NV from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. BidaskClub downgraded shares of Euronav NV from a “sell” rating to a “strong sell” rating in a research note on Friday, July 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 restated a “hold” rating and issued a $8.00 price objective on shares of Euronav NV in a research report on Friday, July 7th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $8.83.

Euronav NV (NASDAQ EURN) traded down $0.25 during trading on Friday, reaching $8.20. 451,153 shares of the company’s stock traded hands.

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Several hedge funds have recently added to or reduced their stakes in EURN. Parametric Portfolio Associates LLC increased its position 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 acquiring an additional 13,247 shares during the period. FMR LLC increased its position 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 acquiring an additional 961,865 shares during the period. Vanguard Group Inc. increased its position in shares of Euronav NV by 3.5% in the first quarter. Vanguard Group Inc. now owns 2,671,573 shares of the shipping company’s stock valued at $21,105,000 after acquiring an additional 91,190 shares during the period. Morgan Stanley increased its position in shares of Euronav NV by 2.9% in the first quarter. Morgan Stanley now owns 524,025 shares of the shipping company’s stock valued at $4,140,000 after acquiring an additional 14,688 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Euronav NV in the first quarter valued at about $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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