Norges Bank Buys New Holdings in CMB.TECH nv $CMBT

Norges Bank bought a new stake in CMB.TECH nv (NYSE:CMBT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,282,809 shares of the company’s stock, valued at approximately $21,956,000.

A number of other large investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in CMB.TECH in the fourth quarter valued at approximately $615,000. Sigma Planning Corp boosted its position in CMB.TECH by 119.5% in the fourth quarter. Sigma Planning Corp now owns 40,257 shares of the company’s stock valued at $388,000 after buying an additional 21,919 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in CMB.TECH by 33.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 22,774 shares of the company’s stock valued at $217,000 after buying an additional 5,688 shares during the last quarter. UBS Group AG boosted its position in CMB.TECH by 115.0% in the fourth quarter. UBS Group AG now owns 355,485 shares of the company’s stock valued at $3,430,000 after buying an additional 190,137 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CMB.TECH by 42.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,827 shares of the company’s stock valued at $313,000 after buying an additional 9,803 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CMBT. Weiss Ratings upgraded CMB.TECH from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Berenberg Bank upgraded CMB.TECH to a “strong-buy” rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen upgraded CMB.TECH from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy”.

CMB.TECH Trading Up 2.0%

CMB.TECH stock opened at $14.70 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 1.59. CMB.TECH nv has a 12 month low of $7.78 and a 12 month high of $17.72. The stock’s 50 day simple moving average is $14.24 and its two-hundred day simple moving average is $12.59. The firm has a market cap of $2.93 billion, a PE ratio of 8.70 and a beta of 0.10.

CMB.TECH (NYSE:CMBT) last released its quarterly earnings data on Tuesday, May 19th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $0.27 by $1.00. CMB.TECH had a return on equity of 18.25% and a net margin of 24.94%.The business had revenue of $519.63 million for the quarter, compared to analyst estimates of $422.43 million.

CMB.TECH Announces Dividend

The firm also recently announced a special dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.44 per share. The ex-dividend date is Wednesday, June 3rd. CMB.TECH’s dividend payout ratio (DPR) is 36.69%.

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