Encompass Capital Advisors LLC Grows Stock Position in CMB.TECH nv $CMBT

Key Points

• Encompass Capital Advisors increased its CMB.TECH position by 40% in the first quarter, adding 1,000,693 shares for a total of 3.5 million shares valued at approximately $44.3 million.
• Other institutional investors, including Goldman Sachs, JPMorgan Chase and Legal & General, also increased their holdings. Analysts’ consensus rating is “Buy,” with two Strong Buy ratings and one Hold.
• CMB.TECH reported quarterly EPS of $1.27, well above the $0.27 estimate, on revenue of $519.6 million. The company also paid a special dividend of $0.44 per share.

Encompass Capital Advisors LLC lifted its holdings in CMB.TECH nv (NYSE:CMBT - Free Report) by 40.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,500,000 shares of the company's stock after purchasing an additional 1,000,693 shares during the period. CMB.TECH comprises 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CMBT. Goldman Sachs Group Inc. increased its holdings in CMB.TECH by 17.7% during the first quarter. Goldman Sachs Group Inc. now owns 248,014 shares of the company's stock valued at $2,252,000 after buying an additional 37,356 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of CMB.TECH by 3,978.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 30,752 shares of the company's stock worth $277,000 after purchasing an additional 29,998 shares in the last quarter. Legal & General Group Plc increased its stake in shares of CMB.TECH by 221.3% in the 2nd quarter. Legal & General Group Plc now owns 6,529 shares of the company's stock worth $59,000 after purchasing an additional 4,497 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of CMB.TECH in the 2nd quarter worth $27,000. Finally, Orion Porfolio Solutions LLC bought a new position in CMB.TECH in the 2nd quarter worth $98,000.

Wall Street Analyst Weigh In

CMBT has been the topic of several analyst reports. Wall Street Zen upgraded CMB.TECH from a "hold" rating to a "buy" rating in a research report on Saturday, May 30th. Weiss Ratings raised CMB.TECH from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 28th. Finally, Berenberg Bank raised CMB.TECH to a "strong-buy" rating in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy".

CMB.TECH Stock Performance

Shares of NYSE CMBT opened at $15.38 on Tuesday. The firm has a fifty day moving average price of $15.29 and a 200-day moving average price of $13.80. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.95 and a quick ratio of 0.85. The stock has a market cap of $3.07 billion, a PE ratio of 9.10 and a beta of 0.12. CMB.TECH nv has a 1 year low of $7.78 and a 1 year high of $17.72.

CMB.TECH (NYSE:CMBT - Get Free Report) last announced 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. 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 firm also recently declared a special dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, June 3rd were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. CMB.TECH's dividend payout ratio (DPR) 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.

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