2,282,809 Shares in CMB.TECH nv $CMBT Purchased by Norges Bank

Norges Bank acquired a new position in CMB.TECH nv (NYSE:CMBT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,282,809 shares of the company’s stock, valued at approximately $21,956,000.

A number of other hedge funds also recently added to or reduced their stakes in CMBT. Vanguard Group Inc. lifted its stake in CMB.TECH by 3,042.0% in the third 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. Mirabella Financial Services LLP purchased a new stake in CMB.TECH in the third quarter worth about $22,386,000. Marshall Wace LLP purchased a new stake in CMB.TECH in the third quarter worth about $17,428,000. Arrowstreet Capital Limited Partnership purchased a new stake in CMB.TECH in the third quarter worth about $12,024,000. Finally, Bank of America Corp DE lifted its stake in CMB.TECH by 3,505.8% in the third quarter. Bank of America Corp DE now owns 748,810 shares of the company’s stock worth $7,031,000 after acquiring an additional 728,043 shares during the period.

CMB.TECH Stock Performance

CMBT opened at $14.70 on Wednesday. CMB.TECH nv has a 52-week low of $7.78 and a 52-week high of $17.72. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 1.59. The company has a market cap of $2.93 billion, a P/E ratio of 8.70 and a beta of 0.10. The firm’s 50-day moving average price is $14.24 and its 200-day moving average price is $12.59.

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, beating the consensus estimate of $0.27 by $1.00. CMB.TECH had a net margin of 24.94% and a return on equity of 18.25%. The firm had revenue of $519.63 million for the quarter, compared to the consensus estimate of $422.43 million.

CMB.TECH Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.44 per share. The ex-dividend date is Wednesday, June 3rd. CMB.TECH’s dividend payout ratio is 36.69%.

Analysts Set New Price Targets

CMBT has been the subject of a number of recent research 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. Berenberg Bank upgraded shares of CMB.TECH to a “strong-buy” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen upgraded shares of CMB.TECH from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, CMB.TECH presently has an average 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.