Bank of America Corp DE Has $283.68 Million Stock Position in Equinor ASA $EQNR

Key Points

• Bank of America cut its Equinor stake by 58.7% in the first quarter, selling 9.57 million shares and retaining 6.72 million shares worth approximately $283.7 million.
• Equinor reported quarterly EPS of $1.33, below the $1.39 consensus estimate, while revenue of $34.02 billion was broadly in line with expectations. The company declared a quarterly dividend of $0.39, implying a 3.9% annualized yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $39.20, close to the stock’s reported $39.95 opening price.

Bank of America Corp DE lessened its holdings in shares of Equinor ASA (NYSE:EQNR - Free Report) by 58.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,722,278 shares of the company's stock after selling 9,565,585 shares during the period. Bank of America Corp DE owned 0.23% of Equinor ASA worth $283,680,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its stake in shares of Equinor ASA by 599.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,966,671 shares of the company's stock valued at $547,194,000 after buying an additional 11,112,362 shares during the period. DV Equities LLC acquired a new stake in Equinor ASA during the 4th quarter valued at approximately $16,217,000. Voloridge Investment Management LLC raised its holdings in Equinor ASA by 143.2% during the 4th quarter. Voloridge Investment Management LLC now owns 880,931 shares of the company's stock worth $20,816,000 after purchasing an additional 518,646 shares during the last quarter. Morgan Stanley lifted its position in shares of Equinor ASA by 5.6% in the 4th quarter. Morgan Stanley now owns 9,250,933 shares of the company's stock worth $218,600,000 after purchasing an additional 493,801 shares during the period. Finally, Jump Financial LLC boosted its stake in shares of Equinor ASA by 105.4% in the 4th quarter. Jump Financial LLC now owns 863,441 shares of the company's stock valued at $20,403,000 after purchasing an additional 443,041 shares during the last quarter. 5.51% of the stock is currently owned by institutional investors and hedge funds.

Equinor ASA Price Performance

EQNR stock opened at $39.95 on Tuesday. The stock has a market capitalization of $95.50 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 2.71 and a beta of 0.04. The company's 50-day moving average is $35.76 and its 200-day moving average is $34.72. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.18 and a quick ratio of 1.10. Equinor ASA has a 1 year low of $22.26 and a 1 year high of $43.46.

Equinor ASA (NYSE:EQNR - Get Free Report) last issued its earnings results on Tuesday, July 21st. The company reported $1.33 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $34.03 billion. Equities research analysts expect that Equinor ASA will post 4.93 EPS for the current fiscal year.

Equinor ASA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 16th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, November 16th. Equinor ASA's dividend payout ratio (DPR) is 34.88%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. DZ Bank raised shares of Equinor ASA from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 6th. Royal Bank Of Canada raised Equinor ASA from an "underperform" rating to a "sector perform" rating in a research note on Thursday, July 23rd. Weiss Ratings upgraded Equinor ASA from a "hold (c+)" rating to a "buy (b)" rating in a research report on Thursday, July 23rd. Rothschild & Co Redburn raised Equinor ASA from a "strong sell" rating to a "hold" rating in a research note on Thursday, April 9th. Finally, TD Cowen lifted their target price on Equinor ASA from $37.00 to $38.00 and gave the stock a "hold" rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $39.20.

Equinor ASA 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.

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