CMB.TECH (NYSE:CMBT) Hits New 52-Week High – Time to Buy?

Shares of CMB.TECH nv (NYSE:CMBT) hit a new 52-week high on Wednesday . The stock traded as high as $15.42 and last traded at $15.15, with a volume of 44491 shares traded. The stock had previously closed at $15.15.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CMBT shares. Wall Street Zen upgraded CMB.TECH from a “sell” rating to a “hold” rating in a research report on Sunday, April 12th. Weiss Ratings downgraded CMB.TECH from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Finally, Berenberg Bank upgraded CMB.TECH to a “strong-buy” rating in a research report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

CMB.TECH Stock Down 1.6%

The stock has a 50-day moving average price of $13.18 and a 200-day moving average price of $11.73. The company has a market capitalization of $2.90 billion, a P/E ratio of 22.92 and a beta of 0.06. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.86 and a quick ratio of 0.79.

CMB.TECH (NYSE:CMBT) last released its earnings results on Friday, February 27th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.03). CMB.TECH had a return on equity of 6.25% and a net margin of 9.70%.The business had revenue of $589.12 million for the quarter, compared to analyst estimates of $449.43 million.

CMB.TECH Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 15th were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. CMB.TECH’s dividend payout ratio (DPR) is 27.69%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Folketrygdfondet bought a new position in shares of CMB.TECH in the third quarter valued at approximately $51,651,000. Vanguard Group Inc. lifted its holdings in shares of CMB.TECH by 3,042.0% in the third quarter. Vanguard Group Inc. now owns 4,242,670 shares of the company’s stock valued at $40,701,000 after purchasing an additional 4,107,637 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of CMB.TECH by 21.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,849,002 shares of the company’s stock valued at $27,493,000 after purchasing an additional 496,086 shares in the last quarter. Encompass Capital Advisors LLC lifted its holdings in shares of CMB.TECH by 66.3% in the fourth quarter. Encompass Capital Advisors LLC now owns 2,499,307 shares of the company’s stock valued at $24,118,000 after purchasing an additional 996,300 shares in the last quarter. Finally, Mirabella Financial Services LLP bought a new position in shares of CMB.TECH in the third quarter valued at approximately $22,386,000.

About CMB.TECH

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. As of March 15, 2024, Euronav NV operates as subsidiary of CMB NV.