Equinor ASA (NYSE:EQNR) Shares Purchased by Baird Financial Group Inc.

Posted by Defense World Staff on Jun 11th, 2023

Baird Financial Group Inc. grew its stake in Equinor ASA (NYSE:EQNR – Get Rating) by 154.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 308,480 shares of the company’s stock after acquiring an additional 187,160 shares during the quarter. Baird Financial Group Inc.’s holdings in Equinor ASA were worth $11,047,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. ExodusPoint Capital Management LP increased its stake in shares of Equinor ASA by 1.0% in the 4th quarter. ExodusPoint Capital Management LP now owns 336,862 shares of the company’s stock worth $12,063,000 after acquiring an additional 3,272 shares during the last quarter. Credit Suisse AG increased its stake in shares of Equinor ASA by 9,332.6% in the 4th quarter. Credit Suisse AG now owns 101,118 shares of the company’s stock worth $3,621,000 after acquiring an additional 100,046 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Equinor ASA by 140.9% in the 4th quarter. JPMorgan Chase & Co. now owns 14,546 shares of the company’s stock worth $521,000 after acquiring an additional 8,507 shares during the last quarter. M&T Bank Corp increased its stake in shares of Equinor ASA by 25.0% in the 4th quarter. M&T Bank Corp now owns 25,323 shares of the company’s stock worth $5,794,000 after acquiring an additional 5,066 shares during the last quarter. Finally, Assetmark Inc. increased its stake in shares of Equinor ASA by 8.0% in the 4th quarter. Assetmark Inc. now owns 18,093 shares of the company’s stock worth $648,000 after acquiring an additional 1,345 shares during the last quarter. 5.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. BNP Paribas downgraded Equinor ASA from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 4th. Societe Generale upgraded Equinor ASA from a “hold” rating to a “buy” rating in a report on Wednesday, March 22nd. StockNews.com assumed coverage on Equinor ASA in a report on Thursday, May 18th. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded Equinor ASA from a “hold” rating to a “buy” rating in a report on Thursday, March 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Equinor ASA currently has a consensus rating of “Hold” and an average price target of $361.75.

Equinor ASA Price Performance

Shares of Equinor ASA stock opened at $29.21 on Friday. The business has a 50-day moving average of $28.17 and a 200 day moving average of $30.80. Equinor ASA has a 12 month low of $25.23 and a 12 month high of $42.53. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.87 and a current ratio of 1.96.

Equinor ASA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Tuesday, August 15th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 12.32%. This is a boost from Equinor ASA’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend 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.