CIBC Private Wealth Group LLC Has $21.39 Million Position in Equinor ASA $EQNR

CIBC Private Wealth Group LLC boosted its stake in shares of Equinor ASA (NYSE:EQNR) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 877,191 shares of the company’s stock after acquiring an additional 38,474 shares during the period. CIBC Private Wealth Group LLC’s holdings in Equinor ASA were worth $21,386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. McIlrath & Eck LLC bought a new position in Equinor ASA in the second quarter valued at approximately $36,000. New Millennium Group LLC acquired a new position in Equinor ASA during the third quarter valued at approximately $57,000. MAI Capital Management lifted its stake in Equinor ASA by 55.6% during the second quarter. MAI Capital Management now owns 2,339 shares of the company’s stock worth $59,000 after purchasing an additional 836 shares during the last quarter. Allworth Financial LP lifted its stake in Equinor ASA by 378.3% during the second quarter. Allworth Financial LP now owns 3,071 shares of the company’s stock worth $77,000 after purchasing an additional 2,429 shares during the last quarter. Finally, AlphaCore Capital LLC acquired a new stake in shares of Equinor ASA in the 2nd quarter valued at $77,000. 5.51% of the stock is owned by institutional investors and hedge funds.

Equinor ASA Price Performance

Shares of EQNR opened at $40.46 on Friday. The business has a 50-day moving average of $28.91 and a 200-day moving average of $25.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.16. The company has a market capitalization of $119.13 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 4.38 and a beta of 0.35. Equinor ASA has a 1 year low of $21.41 and a 1 year high of $42.06.

Equinor ASA (NYSE:EQNR) last announced its earnings results on Wednesday, February 4th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.60 by $0.21. Equinor ASA had a return on equity of 15.23% and a net margin of 4.74%.The business had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $21.31 billion. As a group, equities research analysts anticipate that Equinor ASA will post 3.46 earnings per share for the current year.

Equinor ASA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, May 15th will be paid a dividend of $0.39 per share. This is a boost from Equinor ASA’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, May 15th. Equinor ASA’s payout ratio is 64.21%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EQNR shares. Weiss Ratings upgraded Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Bank of America downgraded Equinor ASA from a “buy” rating to a “neutral” rating in a research report on Thursday, February 5th. Pareto Securities upgraded Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Zacks Research raised Equinor ASA from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Finally, TD Cowen boosted their target price on Equinor ASA from $22.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Equinor ASA currently has an average rating of “Reduce” and an average price target of $24.71.

About Equinor ASA

Equinor ASA (NYSE: EQNR) is a Norway-based integrated energy company headquartered in Stavanger. Historically established as Statoil in the 1970s to develop Norway’s petroleum resources, the company changed its name to Equinor in 2018 to reflect a strategic shift toward a broader energy portfolio. Equinor’s operations span the full upstream value chain, including exploration, development and production of oil and natural gas, alongside trading and marketing activities that support its global commercial operations.

In recent years Equinor has pursued a transition strategy that combines continued development of conventional oil and gas resources with growing investments in low‑carbon energy.