Euronav (EURN) Upgraded to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Euronav (NYSE:EURN) from an equal weight rating to an overweight rating in a research report report published on Monday. They currently have $10.00 price target on the shipping company’s stock.

EURN has been the subject of a number of other research reports. TheStreet upgraded shares of Euronav from a d+ rating to a c rating in a research report on Thursday, January 25th. UBS Group upped their price objective on shares of Euronav from $8.75 to $9.25 and gave the stock a neutral rating in a research report on Friday, January 26th. Zacks Investment Research downgraded shares of Euronav from a hold rating to a sell rating in a research report on Tuesday, January 23rd. Stifel Nicolaus set a $9.00 price objective on shares of Euronav and gave the stock a hold rating in a research report on Friday, December 22nd. Finally, Deutsche Bank set a $10.00 price objective on shares of Euronav and gave the stock a buy rating in a research report on Thursday, December 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $9.35.

Euronav (EURN) opened at $8.35 on Monday. The stock has a market cap of $1,233.87, a price-to-earnings ratio of 110.71 and a beta of 0.56. Euronav has a 1 year low of $6.90 and a 1 year high of $9.65.

Several institutional investors have recently modified their holdings of the business. Lasry Marc purchased a new stake in shares of Euronav during the third quarter worth about $14,203,000. FNY Partners Fund LP increased its stake in shares of Euronav by 6.3% during the fourth quarter. FNY Partners Fund LP now owns 251,894 shares of the shipping company’s stock worth $2,330,000 after purchasing an additional 15,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Euronav by 20.3% during the third quarter. Dimensional Fund Advisors LP now owns 95,432 shares of the shipping company’s stock worth $773,000 after purchasing an additional 16,120 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Euronav by 5.3% during the third quarter. Allianz Asset Management GmbH now owns 200,574 shares of the shipping company’s stock worth $1,649,000 after purchasing an additional 10,072 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Euronav by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,361,788 shares of the shipping company’s stock worth $12,565,000 after purchasing an additional 62,744 shares in the last quarter. Institutional investors and hedge funds own 21.02% of the company’s stock.

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Euronav Company Profile

Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the ocean transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of April 4, 2017, it owned and operated a fleet of 55 double hulled vessels, including 31 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 2 Suezmax vessels under construction.

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