CMB.TECH (NYSE:CMBT) Reaches New 12-Month High – Here’s Why

CMB.TECH nv (NYSE:CMBT) shares hit a new 52-week high on Tuesday . The company traded as high as $13.22 and last traded at $13.19, with a volume of 1899996 shares trading hands. The stock had previously closed at $12.85.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Weiss Ratings raised CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 14th. Wall Street Zen downgraded CMB.TECH from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Finally, Pareto Securities raised CMB.TECH to a “strong-buy” rating in a research note on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy”.

CMB.TECH Stock Performance

The firm has a 50-day simple moving average of $11.13 and a 200 day simple moving average of $10.03. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.73 and a quick ratio of 0.61.

CMB.TECH (NYSE:CMBT) last posted its earnings results on Wednesday, November 26th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The company had revenue of $460.80 million during the quarter, compared to analyst estimates of $393.37 million. CMB.TECH had a net margin of 12.64% and a return on equity of 4.28%.

CMB.TECH Announces Dividend

The company also recently disclosed a special dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, January 7th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, January 7th. CMB.TECH’s dividend payout ratio (DPR) is currently 8.54%.

Institutional Investors Weigh In On CMB.TECH

A number of large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC increased its stake in CMB.TECH by 3.0% during the 4th quarter. Headlands Technologies LLC now owns 67,058 shares of the company’s stock worth $647,000 after buying an additional 1,957 shares during the period. 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 acquiring an additional 2,439 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of CMB.TECH during the second quarter worth about $27,000. Swiss National Bank lifted its stake in shares of CMB.TECH by 1.7% in the fourth quarter. Swiss National Bank now owns 248,913 shares of the company’s stock worth $2,368,000 after acquiring an additional 4,126 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in CMB.TECH by 221.3% in the second quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock valued at $59,000 after purchasing an additional 4,497 shares during the last quarter.

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.