Equinor ASA $EQNR Shares Bought by Brooklyn Investment Group

Key Points

• Brocklyn Investment Group increased its stake in Equinor ASA by 477.9%, owning 14,980 shares valued at approximately $396,000.
• Analysts have downgraded Equinor ASA's stock rating multiple times, with organizations like JPMorgan Chase and HSBC lowering their recommendations to underperform or hold.
• Equinor ASA's recent earnings report revealed a missed EPS estimate of $0.64 compared to the expected $0.66, while the company had a revenue of $25.12 billion for the quarter.

Brooklyn Investment Group grew its stake in shares of Equinor ASA (NYSE:EQNR - Free Report) by 477.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,980 shares of the company's stock after purchasing an additional 12,388 shares during the quarter. Brooklyn Investment Group's holdings in Equinor ASA were worth $396,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mission Wealth Management LP increased its holdings in shares of Equinor ASA by 4.5% in the 1st quarter. Mission Wealth Management LP now owns 12,236 shares of the company's stock valued at $324,000 after acquiring an additional 522 shares during the period. Atlas Capital Advisors Inc. increased its stake in Equinor ASA by 10.9% in the 1st quarter. Atlas Capital Advisors Inc. now owns 5,618 shares of the company's stock valued at $149,000 after buying an additional 553 shares during the period. Bruce G. Allen Investments LLC increased its stake in Equinor ASA by 34.1% in the 1st quarter. Bruce G. Allen Investments LLC now owns 2,188 shares of the company's stock valued at $58,000 after buying an additional 556 shares during the period. Farther Finance Advisors LLC increased its stake in Equinor ASA by 9.7% in the 1st quarter. Farther Finance Advisors LLC now owns 6,769 shares of the company's stock valued at $182,000 after buying an additional 596 shares during the period. Finally, GAMMA Investing LLC increased its stake in Equinor ASA by 36.4% in the 1st quarter. GAMMA Investing LLC now owns 2,355 shares of the company's stock valued at $62,000 after buying an additional 629 shares during the period. Institutional investors and hedge funds own 5.51% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EQNR. Barclays cut shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. lowered shares of Equinor ASA from a "neutral" rating to an "underweight" rating in a research report on Tuesday, August 12th. Kepler Capital Markets lowered shares of Equinor ASA from a "hold" rating to a "reduce" rating in a research report on Tuesday, May 20th. TD Cowen decreased their target price on shares of Equinor ASA from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Friday, May 2nd. Finally, Hsbc Global Res lowered shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, Equinor ASA presently has a consensus rating of "Reduce" and an average target price of $22.71.

Equinor ASA Price Performance

NYSE EQNR traded up $0.1550 during trading hours on Friday, reaching $25.1250. The company's stock had a trading volume of 2,158,122 shares, compared to its average volume of 4,027,507. The stock has a market cap of $73.99 billion, a PE ratio of 8.35, a PEG ratio of 0.86 and a beta of 0.59. Equinor ASA has a fifty-two week low of $21.41 and a fifty-two week high of $28.26. The company's 50-day moving average is $25.65 and its two-hundred day moving average is $24.45. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.37 and a current ratio of 1.47.

Equinor ASA (NYSE:EQNR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.02). The business had revenue of $25.12 billion during the quarter, compared to analyst estimates of $23.88 billion. Equinor ASA had a net margin of 7.60% and a return on equity of 16.91%. Analysts forecast that Equinor ASA will post 3.46 EPS for the current year.

Equinor ASA Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.304 per share. This represents a dividend yield of 496.0%. The ex-dividend date of this dividend is Tuesday, August 19th. Equinor ASA's dividend payout ratio (DPR) is currently 40.53%.

About Equinor ASA

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.