Berenberg Bank Begins Coverage on Equinor ASA (EQNR)
Berenberg Bank assumed coverage on shares of Equinor ASA (NYSE:EQNR) in a report issued on Tuesday morning, Marketbeat reports. The firm issued a hold rating on the stock.
EQNR has been the subject of a number of other research reports. Jefferies Financial Group raised Equinor ASA from an underperform rating to a hold rating in a report on Monday, June 11th. Macquarie raised Equinor ASA from a neutral rating to an outperform rating in a report on Tuesday, July 3rd. Zacks Investment Research downgraded Equinor ASA from a buy rating to a hold rating in a report on Wednesday, August 1st. Credit Suisse Group downgraded Equinor ASA from an outperform rating to a neutral rating in a report on Thursday, July 19th. Finally, Sanford C. Bernstein downgraded Equinor ASA from an outperform rating to a market perform rating in a report on Tuesday, July 10th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $29.00.
Equinor ASA stock opened at $26.52 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.30 and a quick ratio of 1.13. Equinor ASA has a 52 week low of $19.34 and a 52 week high of $28.06. The stock has a market cap of $87.60 billion, a P/E ratio of 19.22, a PEG ratio of 0.91 and a beta of 0.92.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 30th. Investors of record on Wednesday, August 22nd were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Tuesday, August 21st. Equinor ASA’s dividend payout ratio (DPR) is 48.55%.
Several institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new position in Equinor ASA in the second quarter valued at approximately $1,846,000. Advisors Asset Management Inc. acquired a new position in Equinor ASA in the second quarter valued at approximately $2,970,000. Delphi Management Inc. MA acquired a new position in Equinor ASA in the second quarter valued at approximately $2,140,000. Laurel Wealth Advisors Inc. acquired a new position in Equinor ASA in the second quarter valued at approximately $423,000. Finally, Jane Street Group LLC acquired a new position in Equinor ASA in the second quarter valued at approximately $204,000. 5.18% of the stock is owned by hedge funds and other institutional investors.
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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