Cubist Systematic Strategies LLC boosted its stake in Euronav NV (NYSE:EURN) by 185.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 35,592 shares of the shipping company’s stock after buying an additional 23,103 shares during the period. Cubist Systematic Strategies LLC’s holdings in Euronav were worth $336,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Euronav by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 4,589,312 shares of the shipping company’s stock valued at $43,324,000 after buying an additional 111,349 shares during the last quarter. MARSHALL WACE ASIA Ltd grew its stake in Euronav by 12.8% in the 1st quarter. MARSHALL WACE ASIA Ltd now owns 2,718,735 shares of the shipping company’s stock valued at $22,158,000 after buying an additional 308,432 shares during the last quarter. Deprince Race & Zollo Inc. grew its stake in Euronav by 1.6% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,176,450 shares of the shipping company’s stock valued at $20,546,000 after buying an additional 34,812 shares during the last quarter. Renaissance Technologies LLC grew its stake in Euronav by 249.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,615,704 shares of the shipping company’s stock valued at $15,202,000 after buying an additional 1,153,365 shares during the last quarter. Finally, GAM Holding AG grew its stake in Euronav by 31.4% in the 2nd quarter. GAM Holding AG now owns 1,089,877 shares of the shipping company’s stock valued at $10,220,000 after buying an additional 260,465 shares during the last quarter. Institutional investors and hedge funds own 29.35% of the company’s stock.
A number of research analysts recently commented on EURN shares. Zacks Investment Research upgraded shares of Euronav from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. ValuEngine lowered shares of Euronav from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Evercore ISI reiterated a “buy” rating and issued a $16.00 price target on shares of Euronav in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Euronav currently has an average rating of “Buy” and an average target price of $12.00.
Euronav (NYSE:EURN) last announced its earnings results on Thursday, August 8th. The shipping company reported ($0.18) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.01. Euronav had a negative net margin of 9.69% and a negative return on equity of 2.89%. The firm had revenue of $132.47 million for the quarter, compared to analyst estimates of $124.00 million. As a group, sell-side analysts forecast that Euronav NV will post -0.14 EPS for the current year.
The firm also recently announced a — dividend, which was paid on Tuesday, October 8th. Shareholders of record on Friday, September 27th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, September 26th. This represents a dividend yield of 1.4%.
Euronav NV, together with its subsidiaries, engages in the 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 December 12, 2018, it owned and operated a fleet of vessels, including 43 very large crude carriers, 2 ULCCs, 26 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 1 LR1s.
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