Earnest Partners LLC Buys 124,961 Shares of Equinor ASA $EQNR

Key Points

• Earnest Partners LLC increased its stake in Equinor ASA by 3.4%, purchasing an additional 124,961 shares, totaling 3,830,699 shares valued at approximately $101.32 million.
• Equinor ASA reported a quarterly EPS of $0.64, slightly missing expectations, but exceeded revenue estimates with $25.12 billion for the quarter.
• The company announced a dividend of $0.304 per share, with a dividend yield of 496.0% and a payout ratio of 40.53%.

Earnest Partners LLC raised its stake in shares of Equinor ASA (NYSE:EQNR - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,830,699 shares of the company's stock after purchasing an additional 124,961 shares during the period. Earnest Partners LLC owned 0.14% of Equinor ASA worth $101,322,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of EQNR. Sound Income Strategies LLC raised its position in Equinor ASA by 725.4% during the 1st quarter. Sound Income Strategies LLC now owns 974 shares of the company's stock worth $26,000 after purchasing an additional 856 shares during the last quarter. Montag A & Associates Inc. bought a new position in Equinor ASA during the 1st quarter worth $53,000. Wayfinding Financial LLC bought a new position in shares of Equinor ASA in the 1st quarter worth about $54,000. Headlands Technologies LLC bought a new position in shares of Equinor ASA in the 1st quarter worth about $57,000. Finally, Bruce G. Allen Investments LLC raised its position in shares of Equinor ASA by 34.1% in the 1st quarter. Bruce G. Allen Investments LLC now owns 2,188 shares of the company's stock worth $58,000 after acquiring an additional 556 shares in the last quarter. 5.51% of the stock is owned by institutional investors.

Equinor ASA Price Performance

EQNR stock opened at $24.53 on Wednesday. The company has a market capitalization of $72.22 billion, a P/E ratio of 8.15, a price-to-earnings-growth ratio of 0.86 and a beta of 0.59. 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 has a 52-week low of $21.41 and a 52-week high of $28.26. The business has a 50-day simple moving average of $25.52 and a two-hundred day simple moving average of $24.48.

Equinor ASA (NYSE:EQNR - Get Free Report) last posted its earnings results 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 return on equity of 16.91% and a net margin of 7.60%.The firm had revenue of $25.12 billion for the quarter, compared to the consensus estimate of $23.88 billion. Research analysts expect that Equinor ASA will post 3.46 EPS for the current fiscal year.

Equinor ASA Dividend Announcement

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

Analyst Upgrades and Downgrades

EQNR has been the subject of several research analyst reports. Morgan Stanley lowered Equinor ASA from an "overweight" rating to an "equal weight" rating and set a $22.70 price objective for the company. in a research report on Monday, May 12th. UBS Group lowered Equinor ASA from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 1st. Hsbc Global Res lowered Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Pareto Securities lowered Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Finally, Berenberg Bank lowered Equinor ASA from a "buy" rating to a "hold" rating and set a $26.44 price objective for the company. in a research report on Tuesday, May 20th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, Equinor ASA presently has a consensus rating of "Reduce" and an average price target of $22.71.

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.

Want to see what other hedge funds are holding EQNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinor ASA (NYSE:EQNR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.