Folketrygdfondet Cuts Stock Holdings in CMB.TECH nv $CMBT

Folketrygdfondet decreased its holdings in CMB.TECH nv (NYSE:CMBT) by 48.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,829,165 shares of the company’s stock after selling 2,671,519 shares during the period. CMB.TECH comprises approximately 1.8% of Folketrygdfondet’s holdings, making the stock its 7th largest holding. Folketrygdfondet’s holdings in CMB.TECH were worth $27,301,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Goldman Sachs Group Inc. increased its holdings in CMB.TECH by 17.7% during the 1st 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 during the period. JPMorgan Chase & Co. grew its position in shares of 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 increased its stake in shares of CMB.TECH by 221.3% during the second 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. Raymond James Financial Inc. purchased a new position in shares of CMB.TECH during the second quarter valued at $27,000. Finally, Orion Porfolio Solutions LLC bought a new stake in shares of CMB.TECH in the second quarter valued at about $98,000.

CMB.TECH Price Performance

Shares of NYSE CMBT opened at $14.92 on Friday. CMB.TECH nv has a fifty-two week low of $7.78 and a fifty-two week high of $17.72. The company has a market cap of $2.97 billion, a PE ratio of 8.83 and a beta of 0.10. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.85 and a current ratio of 0.95. The business has a 50-day simple moving average of $14.33 and a two-hundred day simple moving average of $12.66.

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

CMB.TECH Announces Dividend

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

Wall Street Analysts Forecast Growth

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

CMB.TECH 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.