Cresset Asset Management LLC Sells 26,512 Shares of Equinor ASA (NYSE:EQNR)

Cresset Asset Management LLC reduced its holdings in Equinor ASA (NYSE:EQNR - Free Report) by 60.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,088 shares of the company's stock after selling 26,512 shares during the quarter. Cresset Asset Management LLC's holdings in Equinor ASA were worth $405,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in EQNR. JPMorgan Chase & Co. increased its holdings in Equinor ASA by 11.2% in the third quarter. JPMorgan Chase & Co. now owns 94,267 shares of the company's stock worth $2,388,000 after purchasing an additional 9,512 shares in the last quarter. Ritholtz Wealth Management increased its holdings in Equinor ASA by 60.1% in the fourth quarter. Ritholtz Wealth Management now owns 157,810 shares of the company's stock worth $3,739,000 after purchasing an additional 59,254 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Equinor ASA in the fourth quarter valued at approximately $61,000. Ballentine Partners LLC acquired a new stake in Equinor ASA in the fourth quarter valued at approximately $245,000. Finally, Linden Thomas Advisory Services LLC grew its stake in Equinor ASA by 24.8% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 16,684 shares of the company's stock valued at $395,000 after acquiring an additional 3,313 shares during the period. 5.51% of the stock is currently owned by institutional investors.

Equinor ASA Stock Up 0.8%

Shares of NYSE:EQNR opened at $23.55 on Friday. The stock has a market cap of $65.77 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 0.58 and a beta of 0.58. The company has a quick ratio of 1.36, a current ratio of 1.48 and a debt-to-equity ratio of 0.51. Equinor ASA has a 12-month low of $21.41 and a 12-month high of $29.32. The business's 50 day moving average is $23.87 and its 200 day moving average is $23.78.

Equinor ASA (NYSE:EQNR - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.17). The company had revenue of $27.14 billion for the quarter, compared to analysts' expectations of $27.16 billion. Equinor ASA had a net margin of 8.49% and a return on equity of 20.33%. On average, sell-side analysts forecast that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Equinor ASA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th will be given a $0.304 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.22 annualized dividend and a yield of 5.16%. Equinor ASA's dividend payout ratio is currently 38.29%.

Wall Street Analyst Weigh In

EQNR has been the subject of a number of research reports. StockNews.com cut Equinor ASA from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Equinor ASA in a research note on Wednesday, May 7th. HSBC raised Equinor ASA from a "hold" rating to a "buy" rating in a research note on Monday, February 10th. DZ Bank raised Equinor ASA from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, Hsbc Global Res raised Equinor ASA to a "strong-buy" rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.85.

Equinor ASA Company Profile

Equinor ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and other forms of energy in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; Renewables; and Other segments.

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