Euronav (NYSE:EURN) Shares Gap Up to $16.38

Euronav NV (NYSE:EURN – Get Rating)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $16.38, but opened at $16.92. Euronav shares last traded at $16.67, with a volume of 157,410 shares trading hands.

Analyst Ratings Changes

EURN has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Euronav in a research note on Thursday. They issued a “hold” rating for the company. Stifel Nicolaus lowered shares of Euronav from a “buy” rating to a “hold” rating and decreased their price target for the stock from $20.00 to $17.00 in a research note on Tuesday, January 10th. Deutsche Bank Aktiengesellschaft lowered shares of Euronav from a “buy” rating to a “hold” rating and raised their price target for the stock from $19.00 to $20.00 in a research note on Monday, March 6th. TheStreet upgraded shares of Euronav from a “c+” rating to a “b” rating in a research note on Monday, February 6th. Finally, Oddo Bhf downgraded shares of Euronav from an “outperform” rating to a “neutral” rating and set a €24.20 ($26.02) price objective for the company. in a report on Thursday, December 8th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Euronav has an average rating of “Hold” and a consensus price target of $20.24.

Euronav Stock Performance

The company’s fifty day simple moving average is $16.56 and its 200 day simple moving average is $17.30. The company has a current ratio of 2.06, a quick ratio of 1.92 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $3.31 billion, a P/E ratio of 16.26 and a beta of 0.23.

Euronav (NYSE:EURN – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The shipping company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.80 by $0.36. Euronav had a net margin of 23.67% and a return on equity of 9.65%. The firm had revenue of $322.93 million during the quarter, compared to the consensus estimate of $362.95 million. As a group, sell-side analysts forecast that Euronav NV will post 1.94 earnings per share for the current fiscal year.

Euronav Dividend Announcement

The company also recently declared a dividend, which was paid on Thursday, March 2nd. Shareholders of record on Wednesday, February 22nd were issued a $0.03 dividend. This represents a yield of 0.74%. The ex-dividend date was Tuesday, February 21st.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EURN. Norges Bank bought a new stake in shares of Euronav during the 4th quarter worth $91,843,000. Barclays PLC lifted its holdings in shares of Euronav by 299.9% during the 3rd quarter. Barclays PLC now owns 4,944,085 shares of the shipping company’s stock worth $76,089,000 after acquiring an additional 3,707,636 shares during the last quarter. Versor Investments LP bought a new stake in shares of Euronav during the 3rd quarter worth $29,721,000. Millennium Management LLC lifted its holdings in shares of Euronav by 25.3% during the 4th quarter. Millennium Management LLC now owns 1,919,114 shares of the shipping company’s stock worth $32,702,000 after acquiring an additional 387,294 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Euronav by 42.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,583,765 shares of the shipping company’s stock worth $18,896,000 after acquiring an additional 475,253 shares during the last quarter. 68.04% of the stock is owned by institutional investors.

About Euronav

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Euronav NV engages in the ocean transportation and storage of crude oil. The firm operates through the following segments: Operation of crude oil tankers on the international markets (Tankers) and Floating Production, Storage and Offloading Operations (FSO/FPSO). The Tankers segment provides shipping services for crude oil seaborne transportation.