Goldman Sachs Group Inc. Boosts Holdings in Euronav NV (NYSE:EURN)

Goldman Sachs Group Inc. increased its holdings in shares of Euronav NV (NYSE:EURN) by 26.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,274,351 shares of the shipping company’s stock after buying an additional 472,916 shares during the period. Goldman Sachs Group Inc.’s holdings in Euronav were worth $40,006,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Citigroup Inc. boosted its stake in shares of Euronav by 54.9% in the 3rd quarter. Citigroup Inc. now owns 113,198 shares of the shipping company’s stock valued at $1,841,000 after buying an additional 40,120 shares during the period. Acadian Asset Management LLC purchased a new position in Euronav in the third quarter worth approximately $2,913,000. Covestor Ltd grew its holdings in Euronav by 177.1% during the 3rd quarter. Covestor Ltd now owns 2,505 shares of the shipping company’s stock worth $41,000 after acquiring an additional 1,601 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Euronav in the 3rd quarter valued at approximately $265,000. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Euronav by 45.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 260,320 shares of the shipping company’s stock valued at $4,277,000 after purchasing an additional 80,872 shares in the last quarter.

Euronav Stock Up 0.9 %

Euronav stock opened at $15.96 on Friday. The company has a market capitalization of $3.22 billion, a P/E ratio of 2.72 and a beta of -0.02. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.41 and a current ratio of 1.46. Euronav NV has a fifty-two week low of $14.10 and a fifty-two week high of $21.26. The stock has a 50-day simple moving average of $17.07 and a 200-day simple moving average of $17.28.

Euronav (NYSE:EURN) last issued its quarterly earnings data on Wednesday, May 8th. The shipping company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The firm had revenue of $203.46 million during the quarter, compared to analysts’ expectations of $195.96 million. Euronav had a net margin of 103.93% and a return on equity of 23.36%. Equities research analysts expect that Euronav NV will post 1.5 earnings per share for the current year.

Euronav Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Thursday, May 23rd were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date of this dividend was Wednesday, May 22nd. Euronav’s dividend payout ratio is currently 19.45%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EURN shares. JPMorgan Chase & Co. increased their target price on Euronav from $17.86 to $21.70 and gave the company a “neutral” rating in a report on Friday, February 23rd. StockNews.com downgraded Euronav from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Finally, Jefferies Financial Group restated a “hold” rating and set a $18.00 target price on shares of Euronav in a research note on Wednesday, May 8th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Euronav currently has an average rating of “Hold” and a consensus target price of $19.18.

Euronav 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.