CIBC Private Wealth Group LLC Acquires 38,474 Shares of Equinor ASA $EQNR

CIBC Private Wealth Group LLC raised its holdings in Equinor ASA (NYSE:EQNR) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 877,191 shares of the company’s stock after buying an additional 38,474 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Equinor ASA were worth $21,386,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of EQNR. Elevation Point Wealth Partners LLC grew its position in shares of Equinor ASA by 1.9% during the 2nd quarter. Elevation Point Wealth Partners LLC now owns 23,101 shares of the company’s stock worth $581,000 after buying an additional 424 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Equinor ASA by 1.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 37,331 shares of the company’s stock valued at $910,000 after acquiring an additional 428 shares during the period. Ballentine Partners LLC boosted its stake in Equinor ASA by 5.0% during the third quarter. Ballentine Partners LLC now owns 9,039 shares of the company’s stock worth $220,000 after acquiring an additional 434 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its stake in Equinor ASA by 1.8% during the third quarter. Legacy Wealth Asset Management LLC now owns 24,805 shares of the company’s stock worth $605,000 after acquiring an additional 437 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in Equinor ASA by 1.1% in the third quarter. National Bank of Canada FI now owns 39,045 shares of the company’s stock worth $952,000 after purchasing an additional 437 shares during the period. 5.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. TD Cowen upped their price objective on shares of Equinor ASA from $22.00 to $25.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Weiss Ratings raised Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Jefferies Financial Group began coverage on Equinor ASA in a research note on Thursday, January 8th. They set a “hold” rating on the stock. Zacks Research upgraded Equinor ASA from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Finally, Bank of America cut Equinor ASA from a “buy” rating to a “neutral” rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $24.71.

Equinor ASA Trading Up 5.0%

Shares of EQNR stock opened at $40.46 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.27. The company has a market capitalization of $119.13 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 4.38 and a beta of 0.35. Equinor ASA has a 52-week low of $21.41 and a 52-week high of $42.06. The company has a 50-day simple moving average of $28.91 and a two-hundred day simple moving average of $25.58.

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

Equinor ASA Increases Dividend

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

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.