Macquarie Group Ltd. acquired a new stake in shares of Euronav NV (NYSE:EURN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,500 shares of the shipping company’s stock, valued at approximately $190,000.
Several other large investors have also recently modified their holdings of the company. Two Sigma Investments LP bought a new position in Euronav in the fourth quarter worth about $894,000. Goldman Sachs Group Inc. raised its stake in Euronav by 556.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 334,024 shares of the shipping company’s stock worth $3,090,000 after buying an additional 283,161 shares in the last quarter. Jefferies Group LLC bought a new position in Euronav in the fourth quarter worth about $163,000. Impala Asset Management LLC bought a new position in Euronav in the fourth quarter worth about $687,000. Finally, Schroder Investment Management Group raised its stake in Euronav by 8.4% in the fourth quarter. Schroder Investment Management Group now owns 242,621 shares of the shipping company’s stock worth $1,864,000 after buying an additional 18,870 shares in the last quarter. 22.87% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on the stock. JPMorgan Chase increased their price target on shares of Euronav from $8.50 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, March 23rd. Zacks Investment Research downgraded shares of Euronav from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. TheStreet raised shares of Euronav from a “d+” rating to a “c” rating in a research note on Thursday, January 25th. UBS increased their price target on shares of Euronav from $8.75 to $9.25 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Finally, Stifel Nicolaus set a $9.00 price target on shares of Euronav and gave the stock a “hold” rating in a research note on Friday, December 22nd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $9.29.
Euronav (NYSE:EURN) last announced its earnings results on Thursday, January 25th. The shipping company reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.05. Euronav had a net margin of 0.24% and a negative return on equity of 1.16%. The business had revenue of $119.00 million during the quarter, compared to the consensus estimate of $121.46 million. equities research analysts expect that Euronav NV will post -0.64 EPS for the current fiscal year.
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Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the ocean 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 April 4, 2017, it owned and operated a fleet of 55 double hulled vessels, including 31 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 2 Suezmax vessels under construction.
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