Zacks Investment Research Upgrades Euronav NV (EURN) to “Hold”
Euronav NV (NASDAQ:EURN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Euronav is a tanker company. It owns, operates and manages a fleet of vessels for the transportation and storage of crude oil and petroleum products. The company also offers ship management services. It operates primarily in Europe and Asia. Euronav is headquartered in Antwerp, Belgium. “
Several other research analysts have also weighed in on EURN. Stifel Nicolaus reissued a “hold” rating and set a $8.00 price objective on shares of Euronav NV in a report on Friday, July 7th. TheStreet raised shares of Euronav NV from a “d+” rating to a “c-” rating in a report on Tuesday, July 25th. BidaskClub lowered shares of Euronav NV from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, ValuEngine lowered shares of Euronav NV from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Euronav NV presently has an average rating of “Hold” and an average price target of $8.83.
Euronav NV (NASDAQ EURN) traded down $0.15 on Friday, reaching $8.20. 451,153 shares of the company were exchanged, compared to its average volume of 502,269. Euronav NV has a 1-year low of $6.65 and a 1-year high of $8.65.
A number of hedge funds have recently made changes to their positions in the business. Frontier Capital Management Co. LLC grew its holdings in Euronav NV by 784.8% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 740,471 shares of the shipping company’s stock worth $5,998,000 after acquiring an additional 656,784 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Euronav NV during the 3rd quarter worth $4,829,000. Cubist Systematic Strategies LLC grew its holdings in Euronav NV by 41.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,218 shares of the shipping company’s stock worth $104,000 after acquiring an additional 3,895 shares in the last quarter. Prudential PLC lifted its position in shares of Euronav NV by 89.1% in the 2nd quarter. Prudential PLC now owns 6,735,343 shares of the shipping company’s stock worth $53,209,000 after buying an additional 3,173,589 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Euronav NV by 169.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 79,312 shares of the shipping company’s stock worth $627,000 after buying an additional 49,846 shares during the last quarter.
About Euronav NV
Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the ocean transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of April 4, 2017, it owned and operated a fleet of 55 double hulled vessels, including 31 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 2 Suezmax vessels under construction.
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