CIBC Bancorp USA Inc. Invests $21.37 Million in Equinor ASA $EQNR

CIBC Bancorp USA Inc. purchased a new position in Equinor ASA (NYSE:EQNR) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 876,391 shares of the company’s stock, valued at approximately $21,366,000.

A number of other large investors also recently bought and sold shares of EQNR. Royal Bank of Canada grew its holdings in Equinor ASA by 11.1% in the first quarter. Royal Bank of Canada now owns 148,723 shares of the company’s stock worth $3,932,000 after purchasing an additional 14,913 shares during the period. AQR Capital Management LLC purchased a new position in shares of Equinor ASA during the first quarter valued at approximately $263,000. Empowered Funds LLC boosted its position in shares of Equinor ASA by 1.9% in the 1st quarter. Empowered Funds LLC now owns 112,194 shares of the company’s stock worth $2,968,000 after purchasing an additional 2,112 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Equinor ASA in the 1st quarter worth approximately $816,000. Finally, Allworth Financial LP grew its stake in shares of Equinor ASA by 378.3% in the 2nd quarter. Allworth Financial LP now owns 3,071 shares of the company’s stock worth $77,000 after buying an additional 2,429 shares during the last quarter. 5.51% of the stock is owned by hedge funds and other institutional investors.

Equinor ASA Price Performance

Shares of EQNR opened at $38.55 on Thursday. Equinor ASA has a twelve month low of $21.41 and a twelve month high of $38.58. The company has a market capitalization of $113.50 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 4.20 and a beta of 0.35. The firm has a 50 day moving average of $28.58 and a 200 day moving average of $25.47. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.64.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.81 earnings per share (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 fiscal year.

Equinor ASA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th will be paid a $0.39 dividend. This is an increase from Equinor ASA’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, May 15th. Equinor ASA’s dividend payout ratio (DPR) is presently 64.21%.

Analysts Set New Price Targets

A number of research firms recently weighed in on EQNR. Weiss Ratings raised Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Zacks Research raised Equinor ASA from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. TD Cowen increased 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. Pareto Securities upgraded Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Bank of America lowered Equinor ASA from a “buy” rating to a “neutral” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Hold rating and eight have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus 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.