Euronav (EURN) Shares Gap Up to $8.10

Shares of Euronav NV (NYSE:EURN) gapped up prior to trading on Friday . The stock had previously closed at $7.90, but opened at $8.10. Euronav shares last traded at $8.35, with a volume of 3274600 shares traded.

A number of analysts have recently commented on the stock. Deutsche Bank set a $10.00 price objective on shares of Euronav and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus reissued a “hold” rating and issued a $8.50 price objective on shares of Euronav in a report on Wednesday, December 6th. TheStreet lowered Euronav from a “c-” rating to a “d+” rating in a report on Tuesday, November 14th. Zacks Investment Research raised Euronav from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Finally, BidaskClub raised Euronav from a “sell” rating to a “hold” rating in a report on Friday, October 13th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $9.00.

The company has a quick ratio of 1.64, a current ratio of 1.29 and a debt-to-equity ratio of 0.46. The company has a market cap of $1,289.59, a PE ratio of 115.71 and a beta of 0.78.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lasry Marc acquired a new position in shares of Euronav in the 3rd quarter valued at about $14,203,000. Allianz Asset Management GmbH raised its stake in shares of Euronav by 5.3% in the third quarter. Allianz Asset Management GmbH now owns 200,574 shares of the shipping company’s stock valued at $1,649,000 after acquiring an additional 10,072 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Euronav by 20.3% in the third quarter. Dimensional Fund Advisors LP now owns 95,432 shares of the shipping company’s stock valued at $773,000 after acquiring an additional 16,120 shares in the last quarter. Institutional investors and hedge funds own 22.69% of the company’s stock.

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About Euronav

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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