StockNews.com initiated coverage on shares of Euronav (NYSE:EURN – Free Report) in a research report report published on Thursday morning. The brokerage issued a buy rating on the shipping company’s stock.

Several other analysts have also weighed in on EURN. JPMorgan Chase & Co. started coverage on shares of Euronav in a report on Tuesday, August 15th. They set an overweight rating and a $21.50 price objective for the company. Stifel Nicolaus decreased their price objective on Euronav from $22.00 to $20.00 in a research report on Monday, July 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded Euronav from a hold rating to a buy rating and set a $20.00 target price for the company in a research report on Thursday, May 11th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $21.24.

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Euronav Stock Performance

Euronav Increases Dividend

NYSE:EURN opened at $18.44 on Thursday. The firm’s 50-day moving average is $16.03 and its 200-day moving average is $16.53. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.55 and a current ratio of 1.66. Euronav has a 52-week low of $12.94 and a 52-week high of $21.00.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Thursday, September 7th will be given a dividend of $0.56 per share. The ex-dividend date is Wednesday, September 6th. This is an increase from Euronav’s previous quarterly dividend of $0.03. This represents a $2.24 annualized dividend and a yield of 12.15%. Euronav’s dividend payout ratio (DPR) is 16.84%.

Institutional Trading of Euronav

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Euronav in the 4th quarter valued at approximately $91,843,000. Schonfeld Strategic Advisors LLC lifted its holdings in Euronav by 1,609.7% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 2,501,300 shares of the shipping company’s stock worth $41,997,000 after buying an additional 2,355,000 shares during the period. Alpine Associates Management Inc. acquired a new stake in Euronav during the 4th quarter valued at approximately $23,042,000. Renaissance Technologies LLC boosted its position in Euronav by 1,274.9% during the first quarter. Renaissance Technologies LLC now owns 1,202,962 shares of the shipping company’s stock valued at $20,191,000 after acquiring an additional 1,115,468 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Euronav during the 1st quarter worth approximately $11,717,000. Institutional investors own 71.63% of the company’s stock.

Euronav Company Profile

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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.

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