Several other equities research analysts also recently issued reports on the company. Morgan Stanley downgraded Equinor ASA from an equal weight rating to an underweight rating in a research report on Friday, January 5th. Jefferies Financial Group downgraded Equinor ASA from a hold rating to an underperform rating in a research report on Wednesday, November 29th. TD Cowen assumed coverage on Equinor ASA in a research report on Wednesday, January 10th. They issued a market perform rating and a $28.00 price target on the stock. Royal Bank of Canada downgraded Equinor ASA from an outperform rating to a sector perform rating in a research report on Tuesday, December 19th. Finally, Bank of America raised Equinor ASA from a neutral rating to a buy rating in a research report on Thursday, December 7th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $28.00.
Equinor ASA Trading Down 7.3 %
Equinor ASA Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Wednesday, February 14th. Equinor ASA’s dividend payout ratio is 18.41%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQNR. JPMorgan Chase & Co. raised its stake in shares of 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 last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of 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 last quarter. Private Advisor Group LLC bought a new position in shares of Equinor ASA in the first quarter valued at approximately $295,000. Acadian Asset Management LLC bought a new position in shares of Equinor ASA in the first quarter valued at approximately $107,000. Finally, Panagora Asset Management Inc. bought a new position in Equinor ASA in the 1st quarter worth approximately $404,000. Institutional investors own 5.38% of the company’s stock.
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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