CIBC Asset Management Inc Raises Holdings in Equinor ASA (NYSE:EQNR)

CIBC Asset Management Inc grew its holdings in Equinor ASA (NYSE:EQNR) by 5.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 132,518 shares of the company’s stock after acquiring an additional 7,320 shares during the quarter. CIBC Asset Management Inc’s holdings in Equinor ASA were worth $3,379,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EQNR. Bank of America Corp DE increased its holdings in shares of Equinor ASA by 43.0% in the 2nd quarter. Bank of America Corp DE now owns 8,480,028 shares of the company’s stock valued at $179,776,000 after acquiring an additional 2,548,646 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Equinor ASA by 15,962.5% in the 2nd quarter. Bank of Montreal Can now owns 1,396,155 shares of the company’s stock valued at $29,598,000 after acquiring an additional 1,387,463 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Equinor ASA by 20.5% in the 2nd quarter. BlackRock Inc. now owns 7,345,824 shares of the company’s stock valued at $155,732,000 after acquiring an additional 1,248,613 shares during the last quarter. Todd Asset Management LLC increased its holdings in shares of Equinor ASA by 146.6% in the 3rd quarter. Todd Asset Management LLC now owns 2,039,879 shares of the company’s stock valued at $52,016,000 after acquiring an additional 1,212,843 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Equinor ASA in the 2nd quarter valued at about $23,436,000. Institutional investors and hedge funds own 5.40% of the company’s stock.

EQNR has been the subject of a number of research analyst reports. Barclays reissued an “equal weight” rating on shares of Equinor ASA in a research report on Monday, October 4th. Sanford C. Bernstein cut Equinor ASA from an “outperform” rating to a “market perform” rating and upped their target price for the company from $35.00 to $36.00 in a research report on Tuesday, January 4th. Zacks Investment Research cut Equinor ASA from a “strong-buy” rating to a “hold” rating and set a $26.00 target price for the company. in a research report on Tuesday, November 23rd. Exane BNP Paribas cut Equinor ASA from a “neutral” rating to an “underperform” rating in a research report on Monday, January 10th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Equinor ASA in a research report on Monday, November 29th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.94.

NYSE EQNR opened at $29.29 on Friday. Equinor ASA has a 1-year low of $17.60 and a 1-year high of $29.72. The company has a market capitalization of $95.08 billion, a P/E ratio of 34.46, a PEG ratio of 0.16 and a beta of 1.08. The business has a 50 day moving average price of $26.52 and a 200 day moving average price of $24.15. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.66 and a quick ratio of 1.56.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings results on Tuesday, October 26th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.23. The company had revenue of $23.26 billion during the quarter. Equinor ASA had a return on equity of 17.98% and a net margin of 4.04%. On average, research analysts expect that Equinor ASA will post 3.23 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 24th. Stockholders of record on Friday, November 12th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Wednesday, November 10th. Equinor ASA’s dividend payout ratio is currently 61.18%.

Equinor ASA Profile

Equinor ASA engages in the exploration, production, transport, refining, and marketing of petroleum and petroleum-derived products. It operates through the following segments: Exploration and Production Norway, Exploration and Production International, Exploration and Production USA, Marketing, Midstream, and Processing, and Other.

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Institutional Ownership by Quarter for Equinor ASA (NYSE:EQNR)

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