Elevation Point Wealth Partners LLC Boosts Holdings in Equinor ASA (NYSE:EQNR)

Elevation Point Wealth Partners LLC lifted its stake in Equinor ASA (NYSE:EQNR - Free Report) by 119.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,677 shares of the company's stock after buying an additional 12,359 shares during the period. Elevation Point Wealth Partners LLC's holdings in Equinor ASA were worth $600,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Equinor ASA by 62.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 62,732 shares of the company's stock worth $1,486,000 after purchasing an additional 24,090 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Equinor ASA during the 4th quarter worth $909,000. Barclays PLC purchased a new position in Equinor ASA during the 4th quarter worth $1,120,000. Folketrygdfondet grew its position in Equinor ASA by 4.0% during the 4th quarter. Folketrygdfondet now owns 111,466,079 shares of the company's stock worth $2,640,631,000 after purchasing an additional 4,300,472 shares during the last quarter. Finally, Drum Hill Capital LLC purchased a new position in Equinor ASA during the 4th quarter worth $4,023,000. 5.51% of the stock is owned by hedge funds and other institutional investors.

Equinor ASA Stock Performance

Shares of NYSE EQNR opened at $27.77 on Monday. Equinor ASA has a 12 month low of $21.41 and a 12 month high of $29.03. The company has a 50-day simple moving average of $23.62 and a 200-day simple moving average of $23.87. The company has a market cap of $77.57 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 0.58 and a beta of 0.57. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.36.

Equinor ASA (NYSE:EQNR - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.17). Equinor ASA had a net margin of 8.49% and a return on equity of 20.33%. The company had revenue of $27.14 billion during the quarter, compared to analysts' expectations of $27.16 billion. On average, equities analysts anticipate that Equinor ASA will post 3.46 earnings per share for the current year.

Equinor ASA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th were paid a dividend of $0.304 per share. The ex-dividend date was Friday, May 16th. This represents a $1.22 annualized dividend and a yield of 4.38%. Equinor ASA's dividend payout ratio is currently 46.84%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Morgan Stanley downgraded shares of Equinor ASA from an "overweight" rating to an "equal weight" rating and set a $22.70 price objective on the stock. in a research report on Monday, May 12th. Barclays cut shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Kepler Capital Markets cut shares of Equinor ASA from a "hold" rating to a "reduce" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Equinor ASA in a research note on Wednesday, May 7th. Finally, Redburn Atlantic cut shares of Equinor ASA from a "buy" rating to a "sell" rating in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.

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