Euronav NV (NYSE:EURN) Receives Average Rating of “Hold” from Brokerages

Shares of Euronav NV (NYSE:EURN) have been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $19.18.

Several research analysts have recently weighed in on the company. StockNews.com cut Euronav from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. increased their price target on Euronav from $17.86 to $21.70 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft downgraded Euronav from a “buy” rating to a “hold” rating and set a $17.86 price target on the stock. in a research report on Tuesday, February 6th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $18.00 target price on shares of Euronav in a report on Wednesday, May 8th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. FourWorld Capital Management LLC bought a new position in shares of Euronav in the 1st quarter worth about $67,000. Headlands Technologies LLC raised its position in shares of Euronav by 117.2% in the 1st quarter. Headlands Technologies LLC now owns 2,352 shares of the shipping company’s stock worth $39,000 after acquiring an additional 1,269 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new position in shares of Euronav in the 1st quarter worth about $176,000. Tucker Asset Management LLC bought a new position in shares of Euronav in the 4th quarter worth about $79,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Euronav by 26.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,274,351 shares of the shipping company’s stock worth $40,006,000 after acquiring an additional 472,916 shares in the last quarter.

Euronav Stock Performance

EURN stock opened at $15.96 on Friday. Euronav has a twelve month low of $14.10 and a twelve month high of $21.26. 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 business has a fifty day moving average of $17.18 and a 200-day moving average of $17.53.

Euronav Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Thursday, May 23rd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 6.77%. The ex-dividend date is Wednesday, May 22nd. Euronav’s dividend payout ratio is currently 28.50%.

Euronav Company Profile

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.