107,670 Shares in Equinor ASA $EQNR Bought by Readystate Asset Management LP

Key Points

• Readystate Asset Management acquired 107,670 Equinor shares in the first quarter, valued at approximately $4.54 million. Institutional investors collectively own 5.51% of the company.
• Equinor reported quarterly earnings of $1.33 per share, below the $1.39 analyst consensus, while revenue of $34.02 billion was essentially in line with expectations.
• The company announced a quarterly dividend of $0.39 per share, representing a 4.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $39.20, compared with the stock’s reported price of $38.31.

Readystate Asset Management LP acquired a new position in shares of Equinor ASA (NYSE:EQNR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 107,670 shares of the company's stock, valued at approximately $4,544,000.

A number of other hedge funds have also bought and sold shares of EQNR. UMB Bank n.a. lifted its holdings in shares of Equinor ASA by 1,794.0% in the 4th quarter. UMB Bank n.a. now owns 1,269 shares of the company's stock worth $30,000 after acquiring an additional 1,202 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Equinor ASA by 86.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,318 shares of the company's stock valued at $31,000 after purchasing an additional 610 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in Equinor ASA in the 1st quarter worth about $35,000. McIlrath & Eck LLC purchased a new stake in Equinor ASA in the 2nd quarter worth about $36,000. Finally, Assetmark Inc. lifted its stake in Equinor ASA by 130.2% in the first quarter. Assetmark Inc. now owns 1,036 shares of the company's stock worth $44,000 after purchasing an additional 586 shares during the last quarter. Institutional investors own 5.51% of the company's stock.

Equinor ASA Stock Down 0.4%

Shares of NYSE:EQNR opened at $38.31 on Wednesday. The business's 50 day moving average is $35.62 and its 200 day moving average is $34.25. The stock has a market cap of $112.81 billion, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 2.55 and a beta of 0.06. Equinor ASA has a 52-week low of $22.26 and a 52-week high of $43.46. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 0.56.

Equinor ASA (NYSE:EQNR - Get Free Report) last issued its earnings results on Tuesday, July 21st. The company reported $1.33 earnings per share for the quarter, missing analysts' consensus estimates of $1.39 by ($0.06). Equinor ASA had a net margin of 7.92% and a return on equity of 23.60%. The firm had revenue of $34.02 billion for the quarter, compared to the consensus estimate of $34.03 billion. Sell-side analysts predict that Equinor ASA will post 4.9 EPS for the current year.

Equinor ASA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, November 16th. Equinor ASA's dividend payout ratio is presently 34.88%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wall Street Zen raised Equinor ASA from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings upgraded Equinor ASA from a "hold (c+)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. TD Cowen upped their price objective on Equinor ASA from $37.00 to $38.00 and gave the company a "hold" rating in a research report on Friday, July 24th. Royal Bank Of Canada upgraded Equinor ASA from an "underperform" rating to a "sector perform" rating in a research note on Thursday, July 23rd. Finally, DZ Bank upgraded Equinor ASA from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $39.20.

About Equinor ASA

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.

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