Chesapeake Capital Corp IL Makes New $588,000 Investment in Equinor ASA $EQNR

Chesapeake Capital Corp IL purchased a new stake in shares of Equinor ASA (NYSE:EQNR) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 24,102 shares of the company’s stock, valued at approximately $588,000.

Several other large investors have also recently made changes to their positions in the business. Bank of America Corp DE boosted its stake in shares of Equinor ASA by 21.5% in the 2nd quarter. Bank of America Corp DE now owns 12,100,331 shares of the company’s stock valued at $304,202,000 after purchasing an additional 2,143,049 shares in the last quarter. JPMorgan Chase & Co. raised its position in Equinor ASA by 1,437.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,286,328 shares of the company’s stock worth $55,741,000 after purchasing an additional 2,137,642 shares during the period. Fisher Asset Management LLC raised its position in Equinor ASA by 113.0% in the 2nd quarter. Fisher Asset Management LLC now owns 1,787,778 shares of the company’s stock worth $44,945,000 after purchasing an additional 948,609 shares during the period. Optiver Holding B.V. lifted its stake in Equinor ASA by 38,151.0% in the third quarter. Optiver Holding B.V. now owns 511,799 shares of the company’s stock worth $12,478,000 after purchasing an additional 510,461 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Equinor ASA by 87.7% in the third quarter. BNP Paribas Financial Markets now owns 766,751 shares of the company’s stock worth $18,693,000 after purchasing an additional 358,339 shares during the last quarter. 5.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EQNR. Weiss Ratings raised Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Zacks Research raised Equinor ASA from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Pareto Securities upgraded Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Jefferies Financial Group assumed coverage on Equinor ASA in a research report on Thursday, January 8th. They set a “hold” rating on the stock. Finally, Bank of America cut Equinor ASA from a “buy” rating to a “neutral” rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $24.71.

Equinor ASA Price Performance

EQNR stock opened at $35.29 on Friday. The stock has a market capitalization of $103.93 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 4.15 and a beta of 0.35. The firm’s 50-day moving average price is $27.76 and its two-hundred day moving average price is $25.20. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. Equinor ASA has a 12-month low of $21.41 and a 12-month high of $35.67.

Equinor ASA (NYSE:EQNR) last posted its earnings results on Wednesday, February 4th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.21. The company had revenue of $25.30 billion during the quarter, compared to analyst estimates of $21.31 billion. Equinor ASA had a net margin of 4.74% and a return on equity of 15.23%. As a group, equities analysts predict that Equinor ASA will post 3.46 earnings per share for the current year.

Equinor ASA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, May 15th. This is a positive change from Equinor ASA’s previous quarterly dividend of $0.37. Equinor ASA’s dividend payout ratio is currently 64.21%.

Equinor ASA Profile

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.