2,682,232 Shares in Euronav NV (NYSE:EURN) Acquired by PSquared Asset Management AG (2024)

Posted by Sean Solarzano on Jun 9th, 2024

PSquared Asset Management AG acquired a new position in shares of Euronav NV (NYSE:EURN – Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,682,232 shares of the shipping company’s stock, valued at approximately $43,207,000. Euronav makes up 8.6% of PSquared Asset Management AG’s portfolio, making the stock its 7th biggest position.

Several other large investors have also recently modified their holdings of EURN. Blue Trust Inc. acquired a new position in Euronav during the 4th quarter valued at approximately $29,000. Huntington National Bank acquired a new position in Euronav during the 3rd quarter valued at approximately $33,000. Covestor Ltd increased its stake in Euronav by 177.1% during the 3rd quarter. Covestor Ltd now owns 2,505 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 1,601 shares in the last quarter. U S Global Investors Inc. acquired a new position in Euronav during the 4th quarter valued at approximately $92,000. Finally, FNY Investment Advisers LLC acquired a new position in Euronav during the 4th quarter valued at approximately $175,000.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of Euronav from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. upped their price objective on shares of Euronav from $17.86 to $21.70 and gave the company a “neutral” rating in a report on Friday, February 23rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Euronav in a report on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.18.

Check Out Our Latest Analysis on Euronav

Euronav Stock Up 0.4 %

NYSE:EURN traded up $0.06 during trading hours on Friday, reaching $16.23. 146,829 shares of the company were exchanged, compared to its average volume of 414,369. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.41 and a current ratio of 1.46. The stock’s 50-day moving average is $17.25 and its 200-day moving average is $17.44. Euronav NV has a twelve month low of $14.10 and a twelve month high of $21.26.

Euronav (NYSE:EURN – Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The shipping company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The company had revenue of $203.46 million for the quarter, compared to analyst estimates of $195.96 million. Euronav had a return on equity of 23.36% and a net margin of 103.93%. Research analysts expect that Euronav NV will post 1.5 EPS for the current fiscal year.

Euronav Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Thursday, May 23rd were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 6.65%. The ex-dividend date was Wednesday, May 22nd. Euronav’s dividend payout ratio (DPR) is 27.99%.

About Euronav

(Free Report)

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company offers floating, storage, and offloading (FSO) services. It also owns and operates a fleet of vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium.

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