CMB.TECH nv $CMBT Shares Sold by Royal Bank of Canada

Royal Bank of Canada decreased its stake in shares of CMB.TECH nv (NYSE:CMBT) by 95.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,985 shares of the company’s stock after selling 1,041,137 shares during the quarter. Royal Bank of Canada’s holdings in CMB.TECH were worth $569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CMBT. Renaissance Technologies LLC boosted its position in shares of CMB.TECH by 288.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,408,300 shares of the company’s stock valued at $17,815,000 after acquiring an additional 1,045,800 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in CMB.TECH during the fourth quarter worth about $615,000. Norges Bank purchased a new position in CMB.TECH during the fourth quarter worth about $21,956,000. Arrowstreet Capital Limited Partnership acquired a new position in CMB.TECH in the 1st quarter valued at about $28,965,000. Finally, 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 buying an additional 1,000,693 shares during the period.

CMB.TECH Price Performance

CMB.TECH stock opened at $18.18 on Tuesday. The company’s 50 day simple moving average is $15.72 and its 200-day simple moving average is $14.49. 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 nv has a 1 year low of $7.86 and a 1 year high of $18.52. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 10.76 and a beta of 0.11.

Wall Street Analyst Weigh In

CMBT has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of CMB.TECH from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Wall Street Zen raised CMB.TECH from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Two investment 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.com, CMB.TECH presently has a consensus rating of “Buy”.

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.