Euronav NV (EURN) Downgraded by TheStreet

TheStreet downgraded shares of Euronav NV (NYSE:EURN) from a c- rating to a d+ rating in a research note released on Tuesday morning.

Several other analysts have also recently weighed in on the company. Zacks Investment Research cut Euronav NV from a hold rating to a sell rating in a report on Tuesday, July 18th. ValuEngine cut Euronav NV from a hold rating to a sell rating in a report on Friday, September 1st. BidaskClub cut Euronav NV from a sell rating to a strong sell rating in a report on Friday, July 28th. Finally, Stifel Nicolaus set a $8.00 price target on Euronav NV and gave the company a hold rating in a report on Sunday, October 29th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $8.83.

Shares of Euronav NV (EURN) opened at $8.45 on Tuesday. Euronav NV has a 1-year low of $6.65 and a 1-year high of $8.65. The firm has a market capitalization of $1,350.00 and a PE ratio of 121.43. The company has a quick ratio of 1.64, a current ratio of 1.29 and a debt-to-equity ratio of 0.46.

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Institutional investors have recently made changes to their positions in the company. Lasry Marc bought a new position in shares of Euronav NV during the 3rd quarter valued at about $14,203,000. Allianz Asset Management GmbH increased its position in shares of Euronav NV by 5.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 200,574 shares of the shipping company’s stock valued at $1,649,000 after purchasing an additional 10,072 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Euronav NV by 20.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 95,432 shares of the shipping company’s stock valued at $773,000 after purchasing an additional 16,120 shares during the last quarter. Hedge funds and other institutional investors own 22.78% of the company’s stock.

About Euronav NV

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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