Dimensional Fund Advisors LP lowered its position in shares of Euronav NV (NYSE:EURN) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 348,236 shares of the shipping company’s stock after selling 4,558 shares during the quarter. Dimensional Fund Advisors LP owned 0.16% of Euronav worth $2,786,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new position in Euronav during the fourth quarter valued at about $43,639,000. Renaissance Technologies LLC lifted its stake in Euronav by 19.9% in the 4th quarter. Renaissance Technologies LLC now owns 2,193,800 shares of the shipping company’s stock worth $17,550,000 after acquiring an additional 364,500 shares in the last quarter. Donald Smith & CO. Inc. lifted its stake in Euronav by 555.2% in the 4th quarter. Donald Smith & CO. Inc. now owns 2,040,503 shares of the shipping company’s stock worth $16,324,000 after acquiring an additional 1,729,053 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Euronav by 417.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,969,471 shares of the shipping company’s stock worth $15,756,000 after acquiring an additional 1,588,688 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Euronav by 152.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,876,324 shares of the shipping company’s stock worth $15,009,000 after acquiring an additional 1,133,704 shares in the last quarter. 25.36% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on EURN. Oddo Bhf downgraded Euronav from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 1st. ING Group downgraded Euronav from a “buy” rating to a “hold” rating in a research note on Monday, April 12th. HC Wainwright began coverage on Euronav in a research note on Monday, March 29th. They set a “buy” rating and a $13.00 price target for the company. Finally, Zacks Investment Research downgraded Euronav from a “hold” rating to a “sell” rating in a research note on Monday, May 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Euronav presently has an average rating of “Hold” and a consensus target price of $12.00.
Euronav (NYSE:EURN) last issued its quarterly earnings data on Thursday, May 6th. The shipping company reported ($0.35) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.35). Euronav had a return on equity of 6.89% and a net margin of 19.21%. As a group, analysts predict that Euronav NV will post -0.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 3rd. Stockholders of record on Friday, May 21st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, May 20th. Euronav’s payout ratio is presently 3.56%.
Euronav NV, together with its subsidiaries, engages in the ocean transportation and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services. As of April 1, 2021, it owned and operated a fleet of 77 vessels, including 10 chartered-in vessels with an aggregate carrying capacity of approximately 19.5 million deadweight tons consisting of 45 very large crude carriers, two V-plus, 28 Suezmax vessels, and two floating, storage, and offloading vessels.
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