BCK Capital Management LP Purchases New Holdings in Euronav NV (NYSE:EURN)

BCK Capital Management LP purchased a new stake in shares of Euronav NV (NYSE:EURN) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 92,835 shares of the shipping company’s stock, valued at approximately $1,633,000. Euronav comprises about 1.6% of BCK Capital Management LP’s investment portfolio, making the stock its 15th largest holding.

A number of other hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. purchased a new stake in Euronav during the fourth quarter valued at approximately $29,000. Huntington National Bank purchased a new stake in Euronav during the third quarter valued at approximately $33,000. Covestor Ltd increased its stake in Euronav by 177.1% during the 3rd quarter. Covestor Ltd now owns 2,505 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 1,601 shares in the last quarter. U S Global Investors Inc. acquired a new position in Euronav during the 4th quarter valued at approximately $92,000. Finally, FNY Investment Advisers LLC acquired a new position in Euronav during the 4th quarter valued at approximately $175,000.

Analysts Set New Price Targets

Several research firms have recently commented on EURN. Deutsche Bank Aktiengesellschaft downgraded shares of Euronav from a “buy” rating to a “hold” rating and set a $17.86 price objective on the stock. in a report on Tuesday, February 6th. Jefferies Financial Group restated a “hold” rating and issued a $18.00 price objective (down previously from $21.00) on shares of Euronav in a research report on Wednesday, January 31st. JPMorgan Chase & Co. increased their price target on shares of Euronav from $17.86 to $21.70 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Finally, StockNews.com raised shares of Euronav from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $19.18.

Euronav Price Performance

EURN stock traded down $0.08 during trading on Monday, hitting $16.92. The stock had a trading volume of 198,153 shares, compared to its average volume of 1,211,664. Euronav NV has a twelve month low of $14.10 and a twelve month high of $18.50. The company’s 50-day moving average price is $16.77 and its two-hundred day moving average price is $17.43. The company has a current ratio of 3.84, a quick ratio of 3.79 and a debt-to-equity ratio of 0.27.

Euronav (NYSE:EURN) last posted its quarterly earnings data on Thursday, February 1st. The shipping company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.53 by $0.24. Euronav had a return on equity of 25.45% and a net margin of 69.69%. The company had revenue of $233.62 million during the quarter, compared to analyst estimates of $266.87 million. As a group, equities research analysts anticipate that Euronav NV will post 1.91 EPS for the current fiscal year.

About Euronav

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.