Asia stocks edge higher as tech meanders on Nvidia; Hong Kong hit by soft earnings
In a recent filing with the Securities and Exchange Commission, Equinor ASA, a Norwegian petroleum refining company, corrected a clerical error regarding its dividend information. The amendment, filed today, pertains to the cash dividend per share in NOK, which will now be communicated on February 20, 2025. According to InvestingPro data, Equinor has maintained dividend payments for 24 consecutive years, with a current dividend yield of 10.15%.
The correction was made to an earlier report from October 24, 2024, where the company had furnished its original Form 6-K. Equinor ASA clarified that the amendment solely addresses the dividend information and does not alter any other aspects of the October filing or reflect events post the initial submission.
Equinor ASA, previously known as Statoil ASA (NYSE:EQNR) and later StatoilHydro ASA, is headquartered in Stavanger, Norway, and operates under the Energy & Transportation sector. The company files annual reports with the SEC under Form 20-F, complying with U.S. regulations for foreign private issuers.
The filing emphasized that aside from the dividend correction, no other updates or restatements were made to the original Form 6-K. This ensures that investors and stakeholders are provided with the most accurate and current financial information.
The SEC filing was authorized by Torgrim Reitan, Equinor ASA’s Chief Financial Officer, as required by the Securities Exchange Act of 1934. This information is also subject to the disclosure requirements of section 5-12 of the Norwegian Securities Trading Act. InvestingPro data shows the company maintains a strong financial position with liquid assets exceeding short-term obligations and a moderate debt level, earning a "GOOD" overall Financial Health score.
In other recent news, Equinor’s Rosebank project received indirect support from UK Prime Minister Keir Starmer, suggesting a potential path forward for the oil and gas field development. Meanwhile, Erste Group downgraded Equinor’s stock from Buy to Hold due to concerns over a potential decline in sales for 2025 and a scale back in renewable energy sector investments.
Bernstein analysts, on the other hand, maintained their Outperform rating on Equinor’s shares, despite market skepticism surrounding Equinor’s acquisition of a stake in Danish energy company Ørsted.
Bernstein SocGen Group also reiterated an Outperform rating on Equinor, highlighting the recent agreement between Equinor and Shell (LON:SHEL) to merge their UK offshore Oil & Gas portfolios. The strategic move is expected to create a new UK-focused Exploration & Production company, leveraging financial and operational synergies. Finally, Redburn-Atlantic upgraded Equinor from Neutral to Buy, with an increased price target set at NOK330.00, driven by the anticipation of rising gas prices in Europe.
These are some of the recent developments that have shaped Equinor’s financial landscape, providing investors with a clearer understanding of the company’s current position and future prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.