Equinor ASA (EQNR) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Equinor ASA (NYSE:EQNR) from a buy rating to a hold rating in a report published on Wednesday morning.
According to Zacks, “Equinor ASA operates as an energy company. It engaged in developing oil, gas, wind and solar energy projects and focuses on offshore operations and exploration services. Equinor ASA, formerly known as Statoil ASA, is based in Norway, Europe. “
Several other brokerages have also commented on EQNR. Bank of America raised shares of Equinor ASA from a neutral rating to a buy rating in a research report on Friday, October 5th. Piper Jaffray Companies reaffirmed an overweight rating on shares of Equinor ASA in a research report on Tuesday, October 23rd. ValuEngine lowered shares of Equinor ASA from a buy rating to a hold rating in a research report on Thursday, November 1st. Berenberg Bank began coverage on shares of Equinor ASA in a research report on Tuesday, September 11th. They issued a hold rating for the company. Finally, Barclays raised shares of Equinor ASA from an underweight rating to an equal weight rating in a research report on Tuesday, September 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Equinor ASA currently has an average rating of Hold and an average price target of $28.00.
Equinor ASA (NYSE:EQNR) last released its quarterly earnings results on Wednesday, October 24th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.08. The business had revenue of $19.14 billion during the quarter. Equinor ASA had a net margin of 9.08% and a return on equity of 15.62%. Analysts predict that Equinor ASA will post 2.14 earnings per share for the current year.
The firm also recently declared a special dividend, which was paid on Friday, November 30th. Investors of record on Wednesday, November 21st were issued a $0.23 dividend. The ex-dividend date was Tuesday, November 20th. This represents a yield of 3.4%. Equinor ASA’s dividend payout ratio (DPR) is presently 48.55%.
A number of large investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC increased its holdings in Equinor ASA by 41.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 8,176 shares of the company’s stock worth $231,000 after buying an additional 2,409 shares during the period. Eagle Asset Management Inc. increased its holdings in Equinor ASA by 9.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 34,193 shares of the company’s stock worth $964,000 after buying an additional 2,938 shares during the period. Flagship Harbor Advisors LLC increased its holdings in Equinor ASA by 95.3% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 6,450 shares of the company’s stock worth $183,000 after buying an additional 3,147 shares during the period. Stratos Wealth Partners LTD. acquired a new position in Equinor ASA in the 3rd quarter worth approximately $104,000. Finally, Tower Research Capital LLC TRC increased its holdings in Equinor ASA by 1,621.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,425 shares of the company’s stock worth $125,000 after buying an additional 4,168 shares during the period. Institutional investors own 5.41% of the company’s stock.
About Equinor ASA
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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