Mirae Asset Global Investments Co. Ltd. Lowers Position in Equinor ASA (EQNR)
Mirae Asset Global Investments Co. Ltd. reduced its position in Equinor ASA (NYSE:EQNR) by 7.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 181,151 shares of the company’s stock after selling 14,675 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Equinor ASA were worth $5,108,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Confluence Investment Management LLC bought a new stake in shares of Equinor ASA during the third quarter valued at about $1,372,000. Bank of New York Mellon Corp purchased a new stake in Equinor ASA in the second quarter worth approximately $1,846,000. Wells Fargo & Company MN purchased a new stake in Equinor ASA in the second quarter worth approximately $16,429,000. Bank of America Corp DE purchased a new stake in Equinor ASA in the second quarter worth approximately $56,964,000. Finally, Meritage Portfolio Management boosted its stake in Equinor ASA by 101.6% in the third quarter. Meritage Portfolio Management now owns 216,805 shares of the company’s stock worth $6,114,000 after buying an additional 109,265 shares in the last quarter. Hedge funds and other institutional investors own 5.41% of the company’s stock.
NYSE:EQNR opened at $23.00 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.36 and a debt-to-equity ratio of 0.58. The company has a market cap of $79.72 billion, a PE ratio of 16.67, a P/E/G ratio of 0.51 and a beta of 0.95. Equinor ASA has a fifty-two week low of $19.91 and a fifty-two week high of $28.93.
The firm also recently announced 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 dividend yield of 3.4%. Equinor ASA’s dividend payout ratio is presently 48.55%.
Several analysts have issued reports on EQNR shares. Bank of America raised Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Friday, October 5th. Piper Jaffray Companies reissued an “overweight” rating on shares of Equinor ASA in a research note on Tuesday, October 23rd. JPMorgan Chase & Co. lowered Equinor ASA from a “neutral” rating to an “underweight” rating in a research note on Thursday, November 29th. Zacks Investment Research raised Equinor ASA from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, October 16th. Finally, Barclays raised Equinor ASA from an “underweight” rating to an “equal weight” rating in a research note 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 company. The stock has an average rating of “Hold” and an average 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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