Bank of New York Mellon Corp Trims Position in Equinor ASA (NYSE:EQNR)

Bank of New York Mellon Corp cut its stake in shares of Equinor ASA (NYSE:EQNR) by 59.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,233 shares of the company’s stock after selling 38,930 shares during the period. Bank of New York Mellon Corp’s holdings in Equinor ASA were worth $621,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cerity Partners LLC increased its holdings in Equinor ASA by 28.7% during the 3rd quarter. Cerity Partners LLC now owns 26,009 shares of the company’s stock worth $659,000 after acquiring an additional 5,804 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Equinor ASA by 3.2% in the third quarter. Fisher Asset Management LLC now owns 522,763 shares of the company’s stock worth $13,242,000 after purchasing an additional 16,303 shares during the period. Bank of Montreal Can increased its holdings in shares of Equinor ASA by 17.0% in the third quarter. Bank of Montreal Can now owns 159,794 shares of the company’s stock worth $3,993,000 after purchasing an additional 23,213 shares during the period. Glenmede Trust Co. NA raised its position in shares of Equinor ASA by 4.9% in the third quarter. Glenmede Trust Co. NA now owns 26,707 shares of the company’s stock worth $676,000 after buying an additional 1,247 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Equinor ASA during the third quarter valued at $2,305,000. 5.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EQNR has been the topic of a number of research analyst reports. Hsbc Global Res upgraded Equinor ASA to a “strong-buy” rating in a research note on Monday, February 10th. Berenberg Bank upgraded shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. HSBC raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Pareto Securities raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Danske raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.10.

Equinor ASA Stock Up 1.3 %

Shares of NYSE EQNR opened at $25.97 on Thursday. The stock has a market capitalization of $72.51 billion, a P/E ratio of 8.35, a PEG ratio of 0.58 and a beta of 0.79. Equinor ASA has a one year low of $21.85 and a one year high of $29.32. The firm’s 50 day simple moving average is $23.91 and its two-hundred day simple moving average is $24.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.36.

Equinor ASA (NYSE:EQNR) last released its earnings results on Wednesday, February 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.19). Equinor ASA had a net margin of 8.49% and a return on equity of 20.33%. As a group, analysts expect that Equinor ASA will post 3.46 EPS for the current fiscal year.

Equinor ASA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.35 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.40 annualized dividend and a dividend yield of 5.39%. Equinor ASA’s dividend payout ratio is currently 37.30%.

Equinor ASA Profile

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.