Equinor ASA (NYSE:EQNR) Declares Dividend Increase - $0.37 Per Share

Key Points

• Equinor ASA announced a quarterly dividend increase to $0.37 per share, which is a 21.7% increase from the previous dividend of $0.30.
• The dividend will be paid to investors of record on November 14th, with the ex-dividend date also set for the same day.
• Equinor's current annual dividend yield is 6.2%, and the company maintains a dividend payout ratio of 47.7%, indicating strong earnings coverage for dividends.

Equinor ASA (NYSE:EQNR - Get Free Report) declared a quarterly dividend on Wednesday, October 22nd. Investors of record on Friday, November 14th will be paid a dividend of 0.37 per share on Wednesday, November 26th. This represents a c) annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Friday, November 14th. This is a 21.7% increase from Equinor ASA's previous quarterly dividend of $0.30.

Equinor ASA has a dividend payout ratio of 47.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Equinor ASA to earn $3.38 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 43.8%.

Equinor ASA Trading Up 3.3%

Shares of Equinor ASA stock opened at $23.99 on Thursday. The company has a market capitalization of $70.63 billion, a P/E ratio of 7.97, a P/E/G ratio of 0.84 and a beta of 0.52. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.37 and a current ratio of 1.47. The company has a fifty day moving average of $24.36 and a 200 day moving average of $24.51. Equinor ASA has a fifty-two week low of $21.41 and a fifty-two week high of $28.26.

Equinor ASA (NYSE:EQNR - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). Equinor ASA had a net margin of 7.60% and a return on equity of 16.91%. The company had revenue of $25.12 billion for the quarter, compared to the consensus estimate of $23.88 billion. On average, sell-side analysts anticipate that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

Hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its stake in shares of Equinor ASA by 17.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,804,534 shares of the company's stock valued at $100,630,000 after purchasing an additional 572,193 shares in the last quarter. Jump Financial LLC bought a new position in shares of Equinor ASA during the first quarter valued at approximately $2,178,000. Voya Investment Management LLC bought a new position in shares of Equinor ASA during the first quarter valued at approximately $7,459,000. Park Avenue Securities LLC bought a new position in shares of Equinor ASA during the second quarter valued at approximately $331,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Equinor ASA by 325.5% during the second quarter. Farther Finance Advisors LLC now owns 28,803 shares of the company's stock valued at $724,000 after purchasing an additional 22,034 shares in the last quarter. 5.51% of the stock is currently owned by institutional investors.

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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