Engineers Gate Manager LP Takes $1.20 Million Position in Equinor ASA $EQNR

Key Points

• Engineers Gate Manager LP acquired 38,070 Equinor ASA shares worth approximately $1.20 million during the second quarter. Other institutions also increased their positions, while institutional investors collectively own 5.51% of the company.
• Equinor reported quarterly EPS of $1.33, missing analyst expectations of $1.39, while revenue of $34.02 billion was broadly in line with forecasts. Analysts expect full-year EPS of approximately $5.22.
• Equinor declared a quarterly dividend of $0.39 per share, or $1.56 annualized, representing a 3.5% yield. Despite some positive analyst revisions, the stock carries a consensus “Hold” rating with a $42.47 target price.

Engineers Gate Manager LP acquired a new stake in shares of Equinor ASA (NYSE:EQNR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 38,070 shares of the company's stock, valued at approximately $1,195,000.

Other hedge funds also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its stake in shares of Equinor ASA by 599.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,966,671 shares of the company's stock worth $547,194,000 after acquiring an additional 11,112,362 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Equinor ASA in the 1st quarter valued at $8,745,000. Jennison Associates LLC purchased a new stake in shares of Equinor ASA in the 1st quarter valued at $8,582,000. Readystate Asset Management LP bought a new position in shares of Equinor ASA during the 1st quarter valued at $4,544,000. Finally, DJE Kapital AG purchased a new position in Equinor ASA in the 1st quarter worth $2,913,000. Institutional investors own 5.51% of the company's stock.

Equinor ASA Stock Performance

Shares of EQNR opened at $44.06 on Friday. 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 one year low of $22.26 and a one year high of $45.84. The company has a 50-day simple moving average of $41.11 and a two-hundred day simple moving average of $38.29. The firm has a market capitalization of $105.34 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 2.11 and a beta of 0.03.

Equinor ASA (NYSE:EQNR - Get Free Report) last posted its earnings results on Tuesday, July 21st. The company reported $1.33 earnings per share for the quarter, missing analysts' consensus estimates of $1.39 by ($0.06). The firm had revenue of $34.02 billion for the quarter, compared to analysts' expectations of $34.03 billion. Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%. On average, analysts anticipate that Equinor ASA will post 5.22 EPS for the current fiscal year.

Equinor ASA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, November 16th. Equinor ASA's payout ratio is 34.88%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EQNR. Zacks Research cut Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. TD Cowen lifted their price target on Equinor ASA from $37.00 to $38.00 and gave the stock a "hold" rating in a research note on Friday, July 24th. Royal Bank Of Canada upgraded Equinor ASA from an "underperform" rating to a "sector perform" rating in a research report on Thursday, July 23rd. Bank of America raised Equinor ASA from a "neutral" rating to a "buy" rating and set a $49.00 price objective for the company in a research note on Friday. Finally, Wall Street Zen raised shares of Equinor ASA from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 12th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $42.47.

About Equinor ASA

Equinor ASA is a Norwegian energy company engaged primarily in the exploration, development, production and marketing of oil and natural gas. The company also supplies crude oil, natural gas, refined petroleum products and electricity, and participates in energy trading and related activities.

Equinor has expanded beyond its traditional petroleum business into lower-carbon energy, including offshore wind, carbon capture and storage, and hydrogen-related projects. Its operations and partnerships span several regions, with significant activities on the Norwegian continental shelf as well as projects in Europe, North America, South America and other international markets.

The company was established in 1972 as Den norske stats oljeselskap, commonly known as Statoil, and adopted the name Equinor in 2018 to reflect its broader energy strategy.

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