CMB.TECH (NYSE:CMBT) Sets New 52-Week High – What’s Next?

CMB.TECH nv (NYSE:CMBT) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $14.17 and last traded at $14.1450, with a volume of 1231533 shares. The stock had previously closed at $13.98.

Wall Street Analyst Weigh In

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

CMB.TECH Trading Up 1.2%

The company has a market cap of $2.75 billion, a PE ratio of 17.25 and a beta of -0.08. The company’s 50 day simple moving average is $11.45 and its two-hundred day simple moving average is $10.16. 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 for the quarter, missing the consensus estimate of $0.11 by ($0.04). CMB.TECH had a net margin of 12.64% and a return on equity of 4.28%. The company had revenue of $460.80 million during the quarter, compared to analyst estimates of $393.37 million.

CMB.TECH Dividend Announcement

The company also recently announced a special dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, January 7th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, January 7th. CMB.TECH’s dividend payout ratio is presently 8.54%.

Hedge Funds Weigh In On CMB.TECH

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of CMB.TECH by 17.7% during the first quarter. Goldman Sachs Group Inc. now owns 248,014 shares of the company’s stock worth $2,252,000 after purchasing an additional 37,356 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in CMB.TECH by 3,978.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 30,752 shares of the company’s stock worth $277,000 after buying an additional 29,998 shares in the last quarter. Legal & General Group Plc boosted its position in CMB.TECH by 221.3% in the 2nd quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock valued at $59,000 after buying an additional 4,497 shares during the period. Norges Bank acquired a new position in shares of CMB.TECH in the second quarter worth $2,847,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of CMB.TECH during the second quarter worth $27,000.

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.