Cullen Frost Bankers Inc. reduced its position in shares of Equinor ASA (NYSE:EQNR) by 31.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 12,897 shares of the company’s stock after selling 5,982 shares during the period. Cullen Frost Bankers Inc.’s holdings in Equinor ASA were worth $363,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in shares of Equinor ASA during the 2nd quarter worth about $118,000. CIBC Private Wealth Group LLC acquired a new position in shares of Equinor ASA during the 2nd quarter worth about $156,000. Baker Ellis Asset Management LLC acquired a new position in shares of Equinor ASA during the 2nd quarter worth about $161,000. Hall Laurie J Trustee acquired a new position in shares of Equinor ASA during the 2nd quarter worth about $162,000. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Equinor ASA during the 2nd quarter worth about $163,000. Hedge funds and other institutional investors own 5.16% of the company’s stock.
EQNR has been the subject of several research analyst reports. Berenberg Bank initiated coverage on shares of Equinor ASA in a research report on Tuesday, September 11th. They set a “hold” rating for the company. Barclays upgraded shares of Equinor ASA from an “underweight” rating to an “equal weight” rating in a report on Tuesday, September 11th. Bank of America upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a report on Friday, October 5th. Piper Jaffray Companies reiterated an “overweight” rating on shares of Equinor ASA in a report on Tuesday, October 23rd. Finally, Zacks Investment Research downgraded shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $29.00.
EQNR stock opened at $25.56 on Friday. The stock has a market capitalization of $85.37 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 0.54 and a beta of 0.91. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.36 and a quick ratio of 1.19. Equinor ASA has a 12 month low of $19.76 and a 12 month high of $28.93.
Equinor ASA (NYSE:EQNR) last released its quarterly earnings data on Wednesday, October 24th. The company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.08. The company 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%. On average, sell-side analysts expect that Equinor ASA will post 2.16 earnings per share for the current year.
The firm also recently disclosed a special dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, November 21st will be issued a $0.23 dividend. The ex-dividend date is Tuesday, November 20th. This represents a yield of 3.4%. Equinor ASA’s payout ratio is 48.55%.
Equinor ASA 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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