QRG Capital Management Inc. Cuts Position in Equinor ASA $EQNR

QRG Capital Management Inc. decreased its holdings in Equinor ASA (NYSE:EQNR) by 21.1% in the first quarter, HoldingsChannel.com reports. The firm owned 98,707 shares of the company’s stock after selling 26,337 shares during the quarter. QRG Capital Management Inc.’s holdings in Equinor ASA were worth $4,165,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. UMB Bank n.a. raised its stake in shares of Equinor ASA by 1,794.0% during the 4th quarter. UMB Bank n.a. now owns 1,269 shares of the company’s stock worth $30,000 after buying an additional 1,202 shares during the period. Global Retirement Partners LLC grew its stake in Equinor ASA by 86.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,318 shares of the company’s stock valued at $31,000 after acquiring an additional 610 shares during the period. McIlrath & Eck LLC acquired a new stake in Equinor ASA in the 2nd quarter valued at $36,000. Sound Income Strategies LLC increased its holdings in Equinor ASA by 119.2% in the 4th quarter. Sound Income Strategies LLC now owns 1,876 shares of the company’s stock worth $48,000 after acquiring an additional 1,020 shares in the last quarter. Finally, Arax Advisory Partners increased its holdings in Equinor ASA by 78.6% in the 4th quarter. Arax Advisory Partners now owns 2,377 shares of the company’s stock worth $56,000 after acquiring an additional 1,046 shares in the last quarter. Hedge funds and other institutional investors own 5.51% of the company’s stock.

Analysts Set New Price Targets

EQNR has been the subject of a number of research analyst reports. UBS Group upgraded shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Friday, March 20th. Wall Street Zen cut shares of Equinor ASA from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research downgraded shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Rothschild & Co Redburn upgraded Equinor ASA from a “strong sell” rating to a “hold” rating in a report on Thursday, April 9th. Finally, DZ Bank upgraded Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Equinor ASA presently has an average rating of “Hold” and a consensus price target of $38.70.

Equinor ASA Trading Down 0.1%

Shares of EQNR stock opened at $32.01 on Monday. Equinor ASA has a fifty-two week low of $22.26 and a fifty-two week high of $43.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.24. The stock’s fifty day moving average is $36.38 and its two-hundred day moving average is $32.64. The firm has a market capitalization of $94.27 billion, a P/E ratio of 14.68, a PEG ratio of 2.07 and a beta of 0.06.

Equinor ASA (NYSE:EQNR) last released its earnings results on Tuesday, May 5th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.47. The business had revenue of $28.40 billion during the quarter, compared to analyst estimates of $28.73 billion. Equinor ASA had a net margin of 5.30% and a return on equity of 20.01%. Research analysts expect that Equinor ASA will post 4.93 earnings per share for the current fiscal year.

Equinor ASA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Friday, August 14th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, August 14th. This represents a $1.56 dividend on an annualized basis and a yield of 4.9%. Equinor ASA’s payout ratio is presently 58.72%.

Equinor ASA Company 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.