TIG Advisors LLC Purchases New Position in Euronav NV (NYSE:EURN)

TIG Advisors LLC purchased a new stake in shares of Euronav NV (NYSE:EURN) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 17,330 shares of the shipping company’s stock, valued at approximately $305,000.

Several other institutional investors also recently bought and sold shares of the stock. Power Corp of Canada raised its position in Euronav by 23.8% during the fourth quarter. Power Corp of Canada now owns 32,344 shares of the shipping company’s stock valued at $572,000 after acquiring an additional 6,222 shares in the last quarter. PSquared Asset Management AG acquired a new stake in Euronav in the fourth quarter valued at approximately $43,207,000. Water Island Capital LLC acquired a new stake in Euronav in the fourth quarter valued at approximately $27,123,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Euronav in the fourth quarter valued at approximately $4,153,000. Finally, Gabelli Funds LLC acquired a new stake in Euronav in the fourth quarter valued at approximately $4,687,000.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Euronav from $17.86 to $21.70 and gave the company a “neutral” rating in a report on Friday, February 23rd. StockNews.com lowered Euronav from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $18.00 price objective on shares of Euronav in a report on Wednesday, May 8th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.18.

Euronav Price Performance

Shares of NYSE:EURN traded up $0.21 during trading on Wednesday, reaching $15.89. The stock had a trading volume of 107,505 shares, compared to its average volume of 1,022,573. 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 price of $17.22 and a 200-day moving average price of $17.40. The stock has a market cap of $3.20 billion, a PE ratio of 2.71 and a beta of -0.02. Euronav NV has a 1-year low of $14.10 and a 1-year high of $21.26.

Euronav (NYSE:EURN) last issued its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.44 earnings per share (EPS) 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 analyst estimates of $195.96 million. Euronav had a return on equity of 23.36% and a net margin of 103.93%. On average, equities analysts forecast that Euronav NV will post 1.5 earnings per share for the current fiscal year.

Euronav Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders 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 6.80%. The ex-dividend date was Wednesday, May 22nd. Euronav’s dividend payout ratio (DPR) is currently 19.45%.

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.