Euronav NV (NYSE:EURN) has received an average rating of “Hold” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $9.42.
EURN has been the subject of several research analyst reports. Stifel Nicolaus set a $8.00 price objective on Euronav and gave the company a “hold” rating in a research note on Sunday, October 29th. Zacks Investment Research raised Euronav from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. TheStreet downgraded Euronav from a “c-” rating to a “d+” rating in a research report on Tuesday, November 14th. BidaskClub raised Euronav from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. Finally, Deutsche Bank set a $10.00 price target on Euronav and gave the stock a “buy” rating in a research report on Thursday, December 21st.
A number of institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH increased its position in Euronav by 5.3% during the third quarter. Allianz Asset Management GmbH now owns 200,574 shares of the shipping company’s stock worth $1,649,000 after buying an additional 10,072 shares in the last quarter. FNY Partners Fund LP boosted its holdings in shares of Euronav by 6.3% during the fourth quarter. FNY Partners Fund LP now owns 251,894 shares of the shipping company’s stock worth $2,330,000 after purchasing an additional 15,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Euronav by 20.3% during the third quarter. Dimensional Fund Advisors LP now owns 95,432 shares of the shipping company’s stock worth $773,000 after purchasing an additional 16,120 shares during the last quarter. Finally, Lasry Marc acquired a new stake in shares of Euronav during the third quarter worth $14,203,000. 21.42% of the stock is owned by institutional investors.
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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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