Euronav NV (NYSE:EURN) Shares Sold by Swiss National Bank

Swiss National Bank lessened its holdings in shares of Euronav NV (NYSE:EURNGet Rating) by 6.2% in the second quarter, Holdings Channel.com reports. The firm owned 414,702 shares of the shipping company’s stock after selling 27,523 shares during the period. Swiss National Bank’s holdings in Euronav were worth $4,962,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Cetera Advisor Networks LLC grew its position in shares of Euronav by 5.3% in the 1st quarter. Cetera Advisor Networks LLC now owns 31,861 shares of the shipping company’s stock worth $337,000 after acquiring an additional 1,617 shares in the last quarter. Pictet Asset Management SA grew its position in shares of Euronav by 17.3% in the 2nd quarter. Pictet Asset Management SA now owns 13,260 shares of the shipping company’s stock worth $159,000 after acquiring an additional 1,951 shares in the last quarter. Renaissance Group LLC grew its position in shares of Euronav by 9.4% in the 1st quarter. Renaissance Group LLC now owns 107,854 shares of the shipping company’s stock worth $1,140,000 after acquiring an additional 9,240 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Euronav by 16.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 70,342 shares of the shipping company’s stock worth $839,000 after acquiring an additional 9,967 shares in the last quarter. Finally, Harvey Capital Management Inc. grew its position in shares of Euronav by 5.5% in the 2nd quarter. Harvey Capital Management Inc. now owns 203,460 shares of the shipping company’s stock worth $2,427,000 after acquiring an additional 10,560 shares in the last quarter. Institutional investors and hedge funds own 59.00% of the company’s stock.

Euronav Trading Down 1.6 %

Shares of NYSE EURN opened at $19.65 on Friday. The company has a market cap of $3.96 billion, a price-to-earnings ratio of -38.53 and a beta of 0.21. Euronav NV has a 12-month low of $7.91 and a 12-month high of $20.75. The company has a current ratio of 2.05, a quick ratio of 1.84 and a debt-to-equity ratio of 0.69. The stock’s 50 day simple moving average is $17.75 and its 200 day simple moving average is $15.08.

Euronav (NYSE:EURNGet Rating) last announced its earnings results on Friday, November 4th. The shipping company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.09). The business had revenue of $167.94 million for the quarter, compared to the consensus estimate of $169.83 million. Euronav had a negative net margin of 17.12% and a negative return on equity of 5.92%. Equities research analysts expect that Euronav NV will post 0.66 EPS for the current year.

Euronav Cuts Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Tuesday, November 22nd will be paid a dividend of $0.03 per share. This represents a yield of 0.61%. The ex-dividend date of this dividend is Monday, November 21st.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Jefferies Financial Group upgraded Euronav from a “hold” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $20.00 in a research report on Tuesday, September 6th. StockNews.com raised Euronav from a “sell” rating to a “hold” rating in a report on Tuesday, November 8th. Deutsche Bank Aktiengesellschaft raised their price target on Euronav from $20.00 to $21.00 in a report on Thursday, October 27th. Finally, BTIG Research downgraded Euronav from a “buy” rating to a “neutral” rating in a report on Thursday, October 27th.

Euronav Profile

(Get Rating)

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services. As of April 1, 2022, it owned and operated a fleet of 72 vessels, including 6 chartered-in vessels with an aggregate carrying capacity of approximately 18.5 million deadweight tons consisting of 41 very large crude carriers, 2 V-plus, 27 Suezmax vessels, and 2 FSO vessels.

Featured Stories

Want to see what other hedge funds are holding EURN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Euronav NV (NYSE:EURNGet Rating).

Institutional Ownership by Quarter for Euronav (NYSE:EURN)

Receive News & Ratings for Euronav Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Euronav and related companies with MarketBeat.com's FREE daily email newsletter.