CMB.TECH (NYSE:CMBT) Shares Gap Down – Here’s Why

CMB.TECH nv (NYSE:CMBT)’s share price gapped down before the market opened on Monday . The stock had previously closed at $15.74, but opened at $15.18. CMB.TECH shares last traded at $15.42, with a volume of 99,208 shares.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CMBT. Weiss Ratings raised CMB.TECH from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Berenberg Bank raised CMB.TECH to a “strong-buy” rating in a research note on Wednesday, April 22nd. Finally, Wall Street Zen upgraded CMB.TECH from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy”.

CMB.TECH Trading Up 0.3%

The company has a market cap of $3.08 billion, a PE ratio of 9.13 and a beta of 0.12. The business has a 50 day simple moving average of $15.26 and a two-hundred day simple moving average of $13.83. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 1.59.

CMB.TECH (NYSE:CMBT) last posted its quarterly earnings data on Tuesday, May 19th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate 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 Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, June 3rd were paid a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. CMB.TECH’s dividend payout ratio (DPR) is presently 36.69%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of CMB.TECH by 3,042.0% during the 3rd 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 during the period. Arrowstreet Capital Limited Partnership purchased a new stake in CMB.TECH in the first quarter valued at approximately $28,965,000. Norges Bank purchased a new stake in CMB.TECH in the fourth quarter valued at approximately $21,956,000. Marshall Wace LLP acquired a new position in CMB.TECH during the third quarter worth approximately $17,428,000. Finally, Millennium Management LLC acquired a new position in CMB.TECH during the fourth quarter worth approximately $15,792,000.

About CMB.TECH

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.