Connor Clark & Lunn Investment Management Ltd. Sells 913,037 Shares of Equinor ASA (NYSE:EQNR)

Posted by Defense World Staff on May 29th, 2023

Connor Clark & Lunn Investment Management Ltd. lowered its position in Equinor ASA (NYSE:EQNR – Get Rating) by 92.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,605 shares of the company’s stock after selling 913,037 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Equinor ASA were worth $2,493,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. bought a new stake in shares of Equinor ASA in the 4th quarter worth approximately $1,306,000. Advisor Group Holdings Inc. lifted its position in shares of Equinor ASA by 8.9% during the 4th quarter. Advisor Group Holdings Inc. now owns 68,405 shares of the company’s stock worth $2,450,000 after buying an additional 5,599 shares during the period. Vise Technologies Inc. lifted its position in shares of Equinor ASA by 4.3% during the 4th quarter. Vise Technologies Inc. now owns 12,357 shares of the company’s stock worth $443,000 after buying an additional 507 shares during the period. Blair William & Co. IL lifted its position in shares of Equinor ASA by 19.7% during the 4th quarter. Blair William & Co. IL now owns 60,962 shares of the company’s stock worth $2,183,000 after buying an additional 10,022 shares during the period. Finally, CI Investments Inc. lifted its position in shares of Equinor ASA by 2.1% during the 4th quarter. CI Investments Inc. now owns 693,756 shares of the company’s stock worth $24,843,000 after buying an additional 13,949 shares during the period. Institutional investors own 5.46% of the company’s stock.

Wall Street Analyst Weigh In

EQNR has been the subject of several analyst reports. Societe Generale upgraded Equinor ASA from a “hold” rating to a “buy” rating in a research report on Wednesday, March 22nd. Nordea Equity Research raised Equinor ASA from a “hold” rating to a “buy” rating in a report on Thursday, February 9th. StockNews.com began coverage on Equinor ASA in a report on Thursday, May 18th. They set a “buy” rating for the company. Pareto Securities raised Equinor ASA from a “hold” rating to a “buy” rating in a report on Thursday, February 9th. Finally, Morgan Stanley raised Equinor ASA from an “underweight” rating to an “equal weight” rating in a report on Thursday, February 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $361.75.

Equinor ASA Stock Down 0.6 %

NYSE EQNR opened at $26.53 on Monday. The stock has a fifty day moving average of $28.34 and a 200-day moving average of $31.32. Equinor ASA has a 52 week low of $26.28 and a 52 week high of $42.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.96 and a quick ratio of 1.87.

Equinor ASA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Tuesday, August 15th will be paid a $0.90 dividend. This is a boost from Equinor ASA’s previous quarterly dividend of $0.20. This represents a $3.60 annualized dividend and a dividend yield of 13.57%. The ex-dividend date is Monday, August 14th. Equinor ASA’s dividend payout ratio (DPR) is 11.11%.

Equinor ASA Profile

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Equinor ASA engages in the exploration, production, transport, refining, and marketing of petroleum and petroleum-derived products. It operates through the following segments: Exploration and Production Norway, Exploration and Production International, Exploration and Production USA, Marketing, Midstream, and Processing, Renewables, and and Other.