Campbell & CO Investment Adviser LLC bought a new position in Euronav NV (NYSE:EURN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 26,500 shares of the shipping company’s stock, valued at approximately $234,000.
A number of other institutional investors have also recently added to or reduced their stakes in EURN. FMR LLC increased its position in Euronav by 504.4% in the 2nd quarter. FMR LLC now owns 6,505,351 shares of the shipping company’s stock worth $52,911,000 after buying an additional 5,429,104 shares during the period. Frontier Capital Management Co. LLC raised its stake in Euronav by 29.3% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 3,400,827 shares of the shipping company’s stock valued at $27,717,000 after purchasing an additional 770,793 shares during the last quarter. Bank of America Corp DE boosted its holdings in Euronav by 1,327.0% in the 2nd quarter. Bank of America Corp DE now owns 465,092 shares of the shipping company’s stock valued at $3,790,000 after purchasing an additional 432,499 shares during the period. Jane Street Group LLC grew its position in Euronav by 73.4% in the 1st quarter. Jane Street Group LLC now owns 477,971 shares of the shipping company’s stock worth $5,391,000 after purchasing an additional 202,341 shares during the last quarter. Finally, Evolution Wealth Advisors LLC bought a new position in shares of Euronav during the 2nd quarter worth about $1,448,000. 30.10% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research downgraded Euronav from a “hold” rating to a “sell” rating in a research report on Tuesday, October 13th. Kepler Capital Markets reissued a “buy” rating on shares of Euronav in a report on Thursday, October 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Euronav currently has a consensus rating of “Hold” and a consensus price target of $12.25.
NYSE:EURN opened at $8.49 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.21 and a current ratio of 2.61. The company has a 50-day moving average of $9.08 and a 200-day moving average of $9.60. Euronav NV has a 52 week low of $7.85 and a 52 week high of $13.21. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 2.93 and a beta of 0.41.
Euronav (NYSE:EURN) last posted its quarterly earnings results on Thursday, August 6th. The shipping company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.05. The firm had revenue of $404.40 million during the quarter, compared to analyst estimates of $395.91 million. Euronav had a net margin of 45.05% and a return on equity of 25.14%. Sell-side analysts forecast that Euronav NV will post 2.66 EPS for the current year.
Euronav NV, together with its subsidiaries, engages in the shipping and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services. As of April 15, 2020, it owned and operated a fleet of 2 V-Plus vessels, 42 VLCCs, 26 Suezmaxes, and 2 FSO vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium.
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