BTG Pactual Asset Management US LLC Increases Stock Position in CMB.TECH nv $CMBT

BTG Pactual Asset Management US LLC raised its stake in shares of CMB.TECH nv (NYSE:CMBT) by 528.9% during the 2nd quarter, Holdings Channel reports. The fund owned 559,729 shares of the company’s stock after purchasing an additional 470,726 shares during the period. BTG Pactual Asset Management US LLC’s holdings in CMB.TECH were worth $7,831,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in CMB.TECH by 3,042.0% during the third quarter. Vanguard Group Inc. now owns 4,242,670 shares of the company’s stock valued at $40,701,000 after purchasing an additional 4,107,637 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of CMB.TECH during the 1st quarter valued at $28,965,000. Norges Bank acquired a new position in CMB.TECH during the 4th quarter valued at approximately $21,956,000. Marshall Wace LLP acquired a new position in CMB.TECH in the 3rd quarter worth approximately $17,428,000. Finally, Millennium Management LLC acquired a new stake in CMB.TECH during the fourth quarter worth about $15,792,000.

Analysts Set New Price Targets

Several analysts have recently issued reports on CMBT shares. Wall Street Zen upgraded shares of CMB.TECH from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of CMB.TECH in a research note on Tuesday, August 25th. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy”.

CMB.TECH Price Performance

CMB.TECH stock opened at $18.34 on Monday. The company has a fifty day simple moving average of $15.99 and a 200-day simple moving average of $14.65. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 6.30 and a beta of 0.11. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 1.59. CMB.TECH nv has a 52-week low of $8.34 and a 52-week high of $18.85.

CMB.TECH (NYSE:CMBT) last posted its quarterly earnings results on Thursday, August 27th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.38. CMB.TECH had a net margin of 37.19% and a return on equity of 31.18%. The firm had revenue of $703.94 million for the quarter, compared to the consensus estimate of $574.37 million.

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.