Oaktree Capital Management LP Sells 1,083,823 Shares of Euronav NV (NYSE:EURN)

Oaktree Capital Management LP lowered its position in shares of Euronav NV (NYSE:EURN) by 11.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,107,246 shares of the shipping company’s stock after selling 1,083,823 shares during the quarter. Euronav makes up about 1.3% of Oaktree Capital Management LP’s holdings, making the stock its 14th largest holding. Oaktree Capital Management LP owned 3.63% of Euronav worth $66,074,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. MARSHALL WACE ASIA Ltd raised its stake in Euronav by 12.8% during the first quarter. MARSHALL WACE ASIA Ltd now owns 2,718,735 shares of the shipping company’s stock worth $22,158,000 after acquiring an additional 308,432 shares during the period. Bienville Capital Management LLC acquired a new stake in Euronav during the first quarter worth about $82,000. Campbell & CO Investment Adviser LLC acquired a new stake in Euronav during the first quarter worth about $133,000. Mraz Amerine & Associates Inc. raised its stake in Euronav by 5.3% during the first quarter. Mraz Amerine & Associates Inc. now owns 39,899 shares of the shipping company’s stock worth $325,000 after acquiring an additional 2,000 shares during the period. Finally, Deprince Race & Zollo Inc. raised its stake in Euronav by 25.7% during the first quarter. Deprince Race & Zollo Inc. now owns 2,141,638 shares of the shipping company’s stock worth $17,454,000 after acquiring an additional 438,133 shares during the period. 30.17% of the stock is owned by hedge funds and other institutional investors.

EURN has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Euronav from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine upgraded shares of Euronav from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. Finally, TheStreet upgraded shares of Euronav from a “d+” rating to a “c-” rating in a research note on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Euronav currently has a consensus rating of “Buy” and an average target price of $10.61.

Euronav NV has a fifty-two week low of $6.77 and a fifty-two week high of $10.22. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19. The firm has a market capitalization of $2.01 billion, a PE ratio of -13.83 and a beta of 0.91.

Euronav (NYSE:EURN) last posted its quarterly earnings data on Tuesday, April 30th. The shipping company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). The company had revenue of $197.00 million for the quarter, compared to analyst estimates of $206.08 million. Euronav had a negative net margin of 7.01% and a negative return on equity of 3.29%. Sell-side analysts anticipate that Euronav NV will post -0.12 earnings per share for the current fiscal year.

The firm also recently announced a semiannual dividend, which was paid on Friday, May 24th. Investors of record on Thursday, May 16th were issued a dividend of $0.06 per share. This represents a yield of 1.5%. The ex-dividend date was Wednesday, May 15th.
Source: MarketBeat