Gibbs Wealth Management Buys New Shares in Equinor ASA $EQNR

Gibbs Wealth Management purchased a new stake in shares of Equinor ASA (NYSE:EQNR) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 28,179 shares of the company’s stock, valued at approximately $1,189,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in shares of Equinor ASA by 30.2% in the 3rd quarter. Bank of America Corp DE now owns 15,759,942 shares of the company’s stock worth $384,227,000 after purchasing an additional 3,659,611 shares in the last quarter. Morgan Stanley raised its holdings in shares of Equinor ASA by 5.6% during the 4th quarter. Morgan Stanley now owns 9,250,933 shares of the company’s stock valued at $218,600,000 after buying an additional 493,801 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of Equinor ASA by 10.3% during the 4th quarter. Earnest Partners LLC now owns 4,288,512 shares of the company’s stock valued at $101,338,000 after buying an additional 401,424 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Equinor ASA by 0.7% during the 3rd quarter. Wellington Management Group LLP now owns 3,852,448 shares of the company’s stock valued at $93,923,000 after buying an additional 25,250 shares in the last quarter. Finally, UBS Group AG lifted its position in Equinor ASA by 20.1% in the 3rd quarter. UBS Group AG now owns 1,674,456 shares of the company’s stock worth $40,823,000 after buying an additional 280,708 shares during the last quarter. Institutional investors own 5.51% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EQNR. Wall Street Zen raised Equinor ASA from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings upgraded shares of Equinor ASA from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday. Royal Bank Of Canada upgraded Equinor ASA from an “underperform” rating to a “sector perform” rating in a report on Thursday. Rothschild & Co Redburn raised Equinor ASA from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 9th. Finally, Zacks Research downgraded Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $39.20.

Equinor ASA Price Performance

EQNR stock opened at $40.38 on Friday. The stock has a market capitalization of $118.91 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 2.62 and a beta of 0.06. The firm’s 50-day moving average price is $35.69 and its two-hundred day moving average price is $33.96. The company has a current ratio of 1.18, a quick ratio of 1.12 and a debt-to-equity ratio of 0.56. Equinor ASA has a 12-month low of $22.26 and a 12-month high of $43.46.

Equinor ASA (NYSE:EQNR) last posted its earnings results on Wednesday, July 22nd. The company reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). The firm had revenue of $34.02 billion for the quarter, compared to analysts’ expectations of $34.03 billion. Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%. As a group, equities analysts predict that Equinor ASA will post 4.85 earnings per share for the current year.

Equinor ASA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Friday, August 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.56 dividend on an annualized basis and a yield of 3.9%. Equinor ASA’s dividend payout ratio is presently 34.88%.

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.