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

Encompass Capital Advisors LLC boosted its holdings in CMB.TECH nv (NYSE:CMBT) by 40.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,500,000 shares of the company’s stock after purchasing an additional 1,000,693 shares during the quarter. CMB.TECH makes up approximately 1.3% of Encompass Capital Advisors LLC’s holdings, making the stock its 19th biggest position. Encompass Capital Advisors LLC’s holdings in CMB.TECH were worth $44,275,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CMBT. Vanguard Group Inc. lifted its holdings in shares of CMB.TECH by 3,042.0% in the third quarter. Vanguard Group Inc. now owns 4,242,670 shares of the company’s stock worth $40,701,000 after buying an additional 4,107,637 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in CMB.TECH during the first quarter valued at $28,965,000. Norges Bank bought a new stake in CMB.TECH in the 4th quarter valued at $21,956,000. Marshall Wace LLP bought a new stake in CMB.TECH in the 3rd quarter valued at $17,428,000. Finally, Millennium Management LLC purchased a new stake in CMB.TECH in the 4th quarter worth $15,792,000.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Berenberg Bank raised shares of CMB.TECH to a “strong-buy” rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded CMB.TECH from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen upgraded CMB.TECH from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

CMB.TECH Trading Down 2.3%

Shares of CMBT opened at $15.38 on Tuesday. The company’s fifty day moving average is $15.29 and its 200 day moving average is $13.80. CMB.TECH nv has a fifty-two week low of $7.78 and a fifty-two week high of $17.72. The stock has a market capitalization of $3.07 billion, a PE ratio of 9.10 and a beta of 0.12. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.85 and a current ratio of 0.95.

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

CMB.TECH Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.44 per share. The ex-dividend date was Wednesday, June 3rd. CMB.TECH’s dividend payout ratio is currently 36.69%.

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. As of March 15, 2024, Euronav NV operates as subsidiary of CMB NV.