Cresset Asset Management LLC Raises Stock Position in Equinor ASA $EQNR

Key Points

• Cresset Asset Management LLC increased its holdings in Equinor ASA by 62.3%, acquiring an additional 10,646 shares, bringing its total to 27,734 shares worth $734,000.
• Equinor ASA reported quarterly earnings of $0.64 per share, missing the consensus estimate by $0.02, while revenue during the quarter reached $25.12 billion.
• The company announced a dividend of $0.304, with a yield of 496.0% and a payout ratio of 40.53%, to be paid to stockholders of record on August 20th.

Cresset Asset Management LLC raised its stake in shares of Equinor ASA (NYSE:EQNR - Free Report) by 62.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,734 shares of the company's stock after buying an additional 10,646 shares during the period. Cresset Asset Management LLC's holdings in Equinor ASA were worth $734,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. American Century Companies Inc. raised its stake in Equinor ASA by 4.2% during the 1st quarter. American Century Companies Inc. now owns 270,336 shares of the company's stock valued at $7,150,000 after buying an additional 10,830 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Equinor ASA during the 1st quarter valued at $263,000. OneAscent Investment Solutions LLC purchased a new stake in Equinor ASA during the 1st quarter valued at $941,000. Caitong International Asset Management Co. Ltd purchased a new stake in Equinor ASA during the 1st quarter valued at $92,000. Finally, Eagle Global Advisors LLC raised its stake in Equinor ASA by 11.7% during the 1st quarter. Eagle Global Advisors LLC now owns 143,000 shares of the company's stock valued at $3,782,000 after buying an additional 15,000 shares during the last quarter. 5.51% of the stock is currently owned by hedge funds and other institutional investors.

Equinor ASA Price Performance

Equinor ASA stock traded down $0.41 during mid-day trading on Thursday, hitting $24.21. The stock had a trading volume of 1,129,586 shares, compared to its average volume of 4,105,100. The firm has a market capitalization of $71.28 billion, a P/E ratio of 8.04, a P/E/G ratio of 0.84 and a beta of 0.59. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.58. The firm's 50 day moving average is $25.46 and its 200 day moving average is $24.48. Equinor ASA has a one year low of $21.41 and a one year 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 forecast that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EQNR shares. UBS Group lowered shares of Equinor ASA from a "neutral" rating to a "sell" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. lowered shares of Equinor ASA from a "neutral" rating to an "underweight" rating in a research note on Tuesday, August 12th. Pareto Securities lowered Equinor ASA from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Hsbc Global Res lowered Equinor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Finally, Kepler Capital Markets lowered Equinor ASA from a "hold" rating to a "reduce" rating in a research note on Tuesday, May 20th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $22.71.

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.