PNC Financial Services Group Inc. cut its stake in shares of Equinor ASA (NYSE:EQNR – Free Report) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,379 shares of the company’s stock after selling 3,162 shares during the period. PNC Financial Services Group Inc.’s holdings in Equinor ASA were worth $1,619,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in Equinor ASA by 6,737.6% in the first quarter. JPMorgan Chase & Co. now owns 139,693 shares of the company’s stock valued at $5,240,000 after acquiring an additional 137,650 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Equinor ASA by 9.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 26,679 shares of the company’s stock valued at $1,001,000 after acquiring an additional 2,342 shares during the period. Private Advisor Group LLC acquired a new position in shares of Equinor ASA during the first quarter worth about $295,000. Acadian Asset Management LLC acquired a new position in shares of Equinor ASA during the first quarter worth about $107,000. Finally, Panagora Asset Management Inc. acquired a new position in shares of Equinor ASA during the first quarter worth about $404,000. 5.38% of the stock is owned by institutional investors and hedge funds.
Equinor ASA Stock Performance
EQNR opened at $25.21 on Friday. Equinor ASA has a 52-week low of $24.44 and a 52-week high of $34.73. The firm has a market capitalization of $78.70 billion, a PE ratio of 6.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.71. The business’s 50-day simple moving average is $29.05 and its 200 day simple moving average is $31.05.
Equinor ASA (NYSE:EQNR – Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.44). The business had revenue of $29.05 billion during the quarter, compared to the consensus estimate of $27.35 billion. Equinor ASA had a net margin of 11.09% and a return on equity of 20.32%. As a group, sell-side analysts expect that Equinor ASA will post 3.33 earnings per share for the current fiscal year.
Equinor ASA Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Thursday, February 15th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $1.20 annualized dividend and a yield of 4.76%. Equinor ASA’s dividend payout ratio is 25.06%.
Analysts Set New Price Targets
EQNR has been the subject of several recent research reports. Jefferies Financial Group cut Equinor ASA from a “hold” rating to an “underperform” rating in a research report on Wednesday, November 29th. Morgan Stanley raised Equinor ASA from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $26.40 to $28.50 in a research report on Tuesday. TD Cowen initiated coverage on Equinor ASA in a research report on Wednesday, January 10th. They set a “market perform” rating and a $28.00 price objective for the company. DZ Bank cut Equinor ASA from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Finally, Bank of America upgraded Equinor ASA from a “neutral” rating to a “buy” rating in a report on Thursday, December 7th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.25.
Read Our Latest Report on Equinor ASA
About Equinor ASA
Equinor ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and other forms of energy in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; Renewables; and Other segments.
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Source: americanbankingnews.com
