Rubric Capital Management LP Buys New Position in Euronav NV (EURN)

Rubric Capital Management LP bought a new stake in Euronav NV (NYSE:EURN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 376,702 shares of the shipping company’s stock, valued at approximately $3,277,000. Rubric Capital Management LP owned approximately 0.24% of Euronav as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in Euronav by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 148,865 shares of the shipping company’s stock valued at $1,295,000 after acquiring an additional 7,207 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Euronav by 156.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 18,311 shares of the shipping company’s stock valued at $169,000 after acquiring an additional 11,176 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Euronav during the 2nd quarter worth approximately $114,000. Aperio Group LLC bought a new stake in shares of Euronav during the 2nd quarter worth approximately $124,000. Finally, Northern Trust Corp raised its stake in shares of Euronav by 15.0% during the 2nd quarter. Northern Trust Corp now owns 103,951 shares of the shipping company’s stock worth $956,000 after purchasing an additional 13,546 shares in the last quarter. Hedge funds and other institutional investors own 43.03% of the company’s stock.

A number of equities research analysts have recently issued reports on EURN shares. Jefferies Financial Group started coverage on Euronav in a research note on Monday, October 1st. They set a “buy” rating and a $11.00 price objective on the stock. Zacks Investment Research cut Euronav from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Pareto Securities upgraded Euronav from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. JPMorgan Chase & Co. upped their price objective on Euronav from $9.00 to $9.50 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Finally, BTIG Research started coverage on Euronav in a research note on Thursday, September 27th. They set a “buy” rating and a $12.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $10.31.

Shares of EURN stock opened at $8.38 on Monday. The stock has a market capitalization of $1.30 billion, a PE ratio of -93.11 and a beta of 0.35. The company has a quick ratio of 1.49, a current ratio of 1.51 and a debt-to-equity ratio of 0.72. Euronav NV has a 1-year low of $7.50 and a 1-year high of $10.10.

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About Euronav

Euronav NV, together with its subsidiaries, engages in 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 March 19, 2018, it owned and operated a fleet of 53 vessels, including 28 very large crude carriers, 1 V-Plus vessel, 22 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 4 Suezmax vessels under construction.

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Institutional Ownership by Quarter for Euronav (NYSE:EURN)

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