EURN Stock Recent News

Euronav NV (EURN) Q4 2023 Earnings Call Transcript

The Tanker industry has seen a resurgence in recent months due to geopolitical events and rising oil prices. Euronav NV has a takeover bid from its largest shareholder, CMB. Frontline plc is acquiring 24 VLCCs from Euronav NV and is poised to benefit from the transaction.

Oil tankers as a group sailed to a strong rally during the two years between November 2020 and November 2022. Stocks in the industry corrected throughout much of this year, but are close to breaking out of a shallow decline.

Euronav NV (NYSE:EURN ) Q1 2023 Results Conference Call May 11, 2023 8:00 AM ET Company Participants Brian Gallagher - IR Hugo De Stoop - CEO Lieve Logghe - CFO Conference Call Participants Jon Chappell - Evercore ISI Chris Wetherbee - Citigroup Omar Nokta - Jeffries Frode Morkedal - Clarksons Securities Ben Nolan - Stifel Chris Tsung - Webber Research Greg Lewis - BTIG Thijs Berkelder - ABN AMRO Quirijn Mulder - ING Operator Hello, and welcome to Euronav Q1 2023 Earnings Conference Call. [Operator Instructions] Please note, today's event is being recorded.

Investors need to pay close attention to Euronav (EURN) stock based on the movements in the options market lately.

Euronav NV (NYSE:EURN ) Q4 2022 Earnings Conference Call February 2, 2023 8:00 AM ET Company Participants Brian Gallagher - Head of Investor Relations, Research & Communications Hugo De Stoop - Chief Executive Officer Lieve Logghe - Chief Financial Officer Conference Call Participants Omar Nokta - Jefferies Frode Morkedal - Clarksons Securities Jon Chappell - Evercore ISI Thijs Berkelder - ABN AMRO Chris Robertson - Deutsche Bank Chris Tsung - Webber Research & Advisory Chris Wetherbee - Citigroup Operator Good day, and welcome to the Euronav Fourth Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded.

The termination of an all-stock merger by Frontline has put downward pressure on Euronav's stock price. Euronav-initiated intermediary arbitration proceedings may have an outcome on February 7, 2023.

Euronav NV (EURN) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.

Euronav NV (EURN) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

The oil tanker companies are parting ways.