CMB.TECH (NYSE:CMBT) Upgraded to “Buy” at Wall Street Zen

CMB.TECH (NYSE:CMBT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

CMBT has been the subject of several other reports. Weiss Ratings upgraded shares of CMB.TECH from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Berenberg Bank raised shares of CMB.TECH to a “strong-buy” rating in a research note on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, CMB.TECH has an average rating of “Buy”.

CMB.TECH Trading Down 0.5%

Shares of NYSE CMBT opened at $15.46 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.85 and a current ratio of 0.95. CMB.TECH has a 52-week low of $7.78 and a 52-week high of $17.72. The firm has a 50 day moving average price of $13.92 and a two-hundred day moving average price of $12.32. The stock has a market cap of $3.10 billion, a P/E ratio of 9.15 and a beta of 0.06.

CMB.TECH (NYSE:CMBT) last announced its quarterly earnings results on Tuesday, May 19th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $1.00. CMB.TECH had a net margin of 24.94% and a return on equity of 18.25%. The firm had revenue of $519.63 million during the quarter, compared to analysts’ expectations of $422.43 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in CMB.TECH by 3,042.0% during the third quarter. Vanguard Group Inc. now owns 4,242,670 shares of the company’s stock worth $40,701,000 after acquiring an additional 4,107,637 shares in the last quarter. Encompass Capital Advisors LLC lifted its stake in shares of CMB.TECH by 40.0% in the first quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company’s stock valued at $44,275,000 after buying an additional 1,000,693 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake 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 buying an additional 496,086 shares in the last quarter. Mirabella Financial Services LLP bought a new position in shares of CMB.TECH in the third quarter valued at $22,386,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of CMB.TECH in the first quarter valued at $28,965,000.

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.