Encompass Capital Advisors LLC Raises Holdings in CMB.TECH nv $CMBT

Encompass Capital Advisors LLC increased its position in shares of CMB.TECH nv (NYSE:CMBT) by 66.3% in the 4th quarter, Holdings Channel reports. The firm owned 2,499,307 shares of the company’s stock after purchasing an additional 996,300 shares during the period. Encompass Capital Advisors LLC’s holdings in CMB.TECH were worth $24,118,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC increased its position in shares of CMB.TECH by 3.0% during the fourth quarter. Headlands Technologies LLC now owns 67,058 shares of the company’s stock worth $647,000 after purchasing an additional 1,957 shares in the last quarter. Mariner LLC increased its position in shares of CMB.TECH by 4.0% during the fourth quarter. Mariner LLC now owns 63,372 shares of the company’s stock worth $612,000 after purchasing an additional 2,439 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of CMB.TECH during the second quarter worth approximately $27,000. Swiss National Bank increased its position in shares of CMB.TECH by 1.7% during the fourth quarter. Swiss National Bank now owns 248,913 shares of the company’s stock worth $2,368,000 after purchasing an additional 4,126 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of CMB.TECH by 221.3% during the second quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock worth $59,000 after purchasing an additional 4,497 shares in the last quarter.

Wall Street Analyst Weigh In

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

CMB.TECH Stock Down 2.3%

Shares of CMBT opened at $14.73 on Thursday. CMB.TECH nv has a 52-week low of $7.78 and a 52-week high of $17.72. The company has a market capitalization of $2.94 billion, a PE ratio of 8.71 and a beta of 0.10. The stock has a fifty day simple moving average of $14.52 and a two-hundred day simple moving average of $12.80. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 1.59.

CMB.TECH (NYSE:CMBT) last issued its earnings results on Tuesday, May 19th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $1.00. CMB.TECH had a return on equity of 18.25% and a net margin of 24.94%.The business had revenue of $519.63 million during the quarter, compared to the consensus estimate of $422.43 million.

CMB.TECH Announces Dividend

The business also recently announced 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 36.69%.

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.