Deprince Race & Zollo Inc. Purchases Shares of 1,703,505 Euronav NV (NYSE:EURN)

Deprince Race & Zollo Inc. bought a new position in Euronav NV (NYSE:EURN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,703,505 shares of the shipping company’s stock, valued at approximately $11,805,000. Deprince Race & Zollo Inc. owned approximately 0.76% of Euronav as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EURN. Citadel Advisors LLC bought a new position in shares of Euronav in the third quarter valued at approximately $166,000. Stevens Capital Management LP bought a new position in shares of Euronav in the third quarter valued at approximately $205,000. Jefferies Group LLC bought a new position in shares of Euronav in the third quarter valued at approximately $229,000. Odey Asset Management Group Ltd bought a new position in shares of Euronav in the third quarter valued at approximately $479,000. Finally, Wiley BROS. Aintree Capital LLC purchased a new stake in shares of Euronav during the fourth quarter valued at approximately $652,000. 34.67% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE EURN traded down $0.02 during mid-day trading on Friday, hitting $9.51. The company had a trading volume of 358,050 shares, compared to its average volume of 523,596. The stock has a market cap of $2.12 billion, a PE ratio of -14.63 and a beta of 0.79. Euronav NV has a 1 year low of $6.77 and a 1 year high of $10.10.

Euronav (NYSE:EURN) last posted its quarterly earnings data on Thursday, January 24th. The shipping company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.03. The company had revenue of $191.62 million during the quarter, compared to analyst estimates of $190.76 million. Euronav had a negative return on equity of 6.17% and a negative net margin of 18.38%. Analysts predict that Euronav NV will post -0.04 EPS for the current fiscal year.

The company also recently declared a semiannual dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.06 per share. This represents a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, May 15th. Euronav’s dividend payout ratio (DPR) is currently -18.46%.

A number of brokerages recently commented on EURN. Zacks Investment Research raised Euronav from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 10th. ValuEngine raised Euronav from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. TheStreet raised Euronav from a “d+” rating to a “c-” rating in a research report on Monday, April 15th. Stifel Nicolaus set a $10.00 target price on Euronav and gave the stock a “hold” rating in a research report on Friday, January 25th. Finally, DNB Markets raised Euronav from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $10.61.

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Euronav Profile

Euronav NV, together with its subsidiaries, engages in the 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 December 12, 2018, it owned and operated a fleet of vessels, including 43 very large crude carriers, 2 ULCCs, 26 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 1 LR1s.

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Institutional Ownership by Quarter for Euronav (NYSE:EURN)

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