Wells Fargo & Company MN cut its stake in shares of Equinor ASA (NYSE:EQNR) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 608,304 shares of the company’s stock after selling 13,772 shares during the quarter. Wells Fargo & Company MN’s holdings in Equinor ASA were worth $17,155,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Stratos Wealth Partners LTD. acquired a new position in Equinor ASA during the third quarter worth $104,000. Proficio Capital Partners LLC purchased a new stake in shares of Equinor ASA in the second quarter valued at about $118,000. Creative Planning raised its holdings in shares of Equinor ASA by 41.8% in the third quarter. Creative Planning now owns 18,076 shares of the company’s stock valued at $510,000 after purchasing an additional 5,330 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Equinor ASA in the second quarter valued at about $156,000. Finally, Baker Ellis Asset Management LLC purchased a new stake in shares of Equinor ASA in the second quarter valued at about $161,000. 5.41% of the stock is currently owned by institutional investors and hedge funds.
NYSE EQNR opened at $24.38 on Tuesday. Equinor ASA has a 52-week low of $19.91 and a 52-week high of $28.93. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.36 and a quick ratio of 1.19. The stock has a market cap of $77.83 billion, a P/E ratio of 17.67, a P/E/G ratio of 0.49 and a beta of 0.96.
The business also recently disclosed a special dividend, which was paid on Friday, November 30th. Investors of record on Wednesday, November 21st were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, November 20th. This represents a yield of 3.4%. Equinor ASA’s dividend payout ratio (DPR) is presently 48.55%.
Several analysts have recently commented on EQNR shares. Bank of America upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a report on Friday, October 5th. Piper Jaffray Companies reiterated a “buy” rating and issued a $27.00 target price on shares of Equinor ASA in a report on Monday, November 19th. Barclays upgraded shares of Equinor ASA from an “underweight” rating to an “equal weight” rating in a report on Tuesday, September 11th. Berenberg Bank started coverage on shares of Equinor ASA in a report on Tuesday, September 11th. They issued a “hold” rating for the company. Finally, Zacks Investment Research downgraded shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $28.00.
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Equinor ASA Company Profile
Equinor ASA, an energy company, explores for, produces, transports, refines, and markets petroleum and petroleum-derived products, and other forms of energy in Norway and internationally. The company operates through Development & Production Norway; Development & Production USA; Development & Production International; Marketing, Midstream & Processing; New Energy Solutions; Technology, Projects & Drilling; Exploration; and Global Strategy & Business Development segments.
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