CMB.TECH (NYSE:CMBT) Stock Price Down 1.5% – Time to Sell?

Shares of CMB.TECH nv (NYSE:CMBT) traded down 1.5% during mid-day trading on Wednesday . The company traded as low as $15.30 and last traded at $15.35. Approximately 547,315 shares changed hands during trading, a decline of 46% from the average session volume of 1,014,661 shares. The stock had previously closed at $15.59.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wall Street Zen upgraded shares of CMB.TECH from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Berenberg Bank upgraded shares of CMB.TECH to a “strong-buy” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings upgraded shares of CMB.TECH from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

CMB.TECH Price Performance

The company has a market cap of $3.06 billion, a P/E ratio of 9.08 and a beta of 0.12. The stock has a 50-day simple moving average of $15.25 and a 200 day simple moving average of $13.67. 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 (NYSE:CMBT) last released its quarterly earnings data on Tuesday, May 19th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $1.00. The business had revenue of $519.63 million for the quarter, compared to analysts’ expectations of $422.43 million. CMB.TECH had a return on equity of 18.25% and a net margin of 24.94%.

CMB.TECH Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, June 3rd were paid a $0.44 dividend. The ex-dividend date was Wednesday, June 3rd. CMB.TECH’s dividend payout ratio is currently 36.69%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMBT. Vanguard Group Inc. boosted its holdings 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 valued at $40,701,000 after purchasing an additional 4,107,637 shares in the last quarter. Encompass Capital Advisors LLC grew its stake in shares of CMB.TECH by 40.0% in the 1st quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company’s stock valued at $44,275,000 after purchasing an additional 1,000,693 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of CMB.TECH by 21.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,849,002 shares of the company’s stock worth $27,493,000 after buying an additional 496,086 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of CMB.TECH in the 1st quarter worth approximately $28,965,000. Finally, Norges Bank acquired a new position in shares of CMB.TECH in the 4th quarter worth approximately $21,956,000.

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.