Comerica Bank Acquires New Position in Equinor ASA (EQNR)
Comerica Bank acquired a new stake in shares of Equinor ASA (NYSE:EQNR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 187,018 shares of the company’s stock, valued at approximately $4,917,000.
Several other large investors have also recently modified their holdings of EQNR. Folketrygdfondet bought a new position in shares of Equinor ASA during the second quarter valued at about $3,042,083,000. Aperio Group LLC bought a new position in Equinor ASA in the second quarter worth about $25,280,000. James Investment Research Inc. bought a new position in Equinor ASA in the second quarter worth about $10,031,000. Hennessy Advisors Inc. bought a new position in Equinor ASA in the second quarter worth about $6,558,000. Finally, Eagle Global Advisors LLC bought a new position in Equinor ASA in the second quarter worth about $3,486,000. 4.89% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on the stock. Sanford C. Bernstein downgraded shares of Equinor ASA from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 10th. Zacks Investment Research downgraded shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Macquarie raised shares of Equinor ASA from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 3rd. Credit Suisse Group downgraded shares of Equinor ASA from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 19th. Finally, Jefferies Financial Group raised shares of Equinor ASA from an “underperform” rating to a “hold” rating in a research note on Monday, June 11th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $29.00.
Equinor ASA (NYSE:EQNR) last released its quarterly earnings results on Thursday, July 26th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.09. Equinor ASA had a net margin of 6.69% and a return on equity of 13.09%. The company had revenue of $18.14 billion during the quarter. equities analysts anticipate that Equinor ASA will post 1.84 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 30th. Investors of record on Wednesday, August 22nd will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Tuesday, August 21st. Equinor ASA’s payout ratio is currently 48.55%.
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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