CMB.TECH (NYSE:CMBT) Shares Up 8.1% After Analyst Upgrade

Shares of CMB.TECH nv (NYSE:CMBT) shot up 8.1% during trading on Friday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The company traded as high as $11.06 and last traded at $10.9550. 1,971,192 shares were traded during mid-day trading, an increase of 89% from the average session volume of 1,044,847 shares. The stock had previously closed at $10.13.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of CMB.TECH in a report on Monday, November 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, CMB.TECH currently has an average rating of “Sell”.

Hedge Funds Weigh In On CMB.TECH

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of CMB.TECH during the 2nd quarter worth approximately $27,000. Public Employees Retirement System of Ohio acquired a new position in CMB.TECH in the third quarter valued at approximately $45,000. Sunbelt Securities Inc. purchased a new position in CMB.TECH in the third quarter worth approximately $56,000. Legal & General Group Plc increased its stake in 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 acquiring an additional 4,497 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new stake in CMB.TECH during the third quarter worth $94,000.

CMB.TECH Price Performance

The stock has a 50-day simple moving average of $9.60 and a 200 day simple moving average of $9.31. The company has a market cap of $2.13 billion, a PE ratio of 8.83 and a beta of -0.02. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 1.98.

CMB.TECH (NYSE:CMBT) last released its quarterly earnings results on Wednesday, November 26th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The business had revenue of $460.80 million for the quarter, compared to analysts’ expectations of $393.37 million. CMB.TECH had a return on equity of 6.02% and a net margin of 22.69%.

CMB.TECH Dividend Announcement

The business also recently declared a special dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, January 7th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, January 7th. CMB.TECH’s dividend payout ratio (DPR) is currently 8.54%.

About CMB.TECH

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.