Tucker Asset Management LLC Purchases New Stake in Euronav NV (NYSE:EURN)

Tucker Asset Management LLC acquired a new position in shares of Euronav NV (NYSE:EURN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,477 shares of the shipping company’s stock, valued at approximately $79,000.

Several other institutional investors and hedge funds have also recently modified their holdings of EURN. Norges Bank bought a new position in shares of Euronav during the fourth quarter worth approximately $91,459,000. PSquared Asset Management AG acquired a new stake in shares of Euronav during the fourth quarter worth $43,207,000. Alpine Associates Management Inc. bought a new stake in shares of Euronav in the fourth quarter valued at about $34,391,000. Water Island Capital LLC acquired a new position in shares of Euronav in the fourth quarter valued at about $27,123,000. Finally, Beryl Capital Management LLC bought a new position in Euronav during the fourth quarter worth about $17,953,000.

Euronav Trading Down 3.6 %

EURN traded down $0.56 during trading on Friday, reaching $15.09. 316,907 shares of the company’s stock were exchanged, compared to its average volume of 355,033. The firm has a fifty day moving average price of $17.14 and a two-hundred day moving average price of $17.35. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.60. Euronav NV has a one year low of $14.10 and a one year high of $21.26.

Euronav (NYSE:EURN) last released its earnings results 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 for the quarter, compared to analyst estimates 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 fiscal year.

Euronav Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Thursday, May 23rd were issued a $0.27 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $1.08 annualized dividend and a yield of 7.16%. Euronav’s payout ratio is 19.62%.

Wall Street Analysts Forecast Growth

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

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.