Equinor ASA $EQNR Shares Sold by Renaissance Technologies LLC

Key Points

• Renaissance Technologies cut its Equinor stake by 90.3% in the first quarter, selling 489,000 shares and retaining 52,823 shares worth approximately $2.23 million.
• Equinor reported quarterly earnings of $1.33 per share, below the $1.39 consensus estimate, while revenue of $34.02 billion was essentially in line with expectations.
• The company declared a quarterly dividend of $0.39 per share, implying a 3.8% annualized yield; analysts maintain a consensus “Hold” rating with a $39.20 price target.

Renaissance Technologies LLC lowered its position in Equinor ASA (NYSE:EQNR - Free Report) by 90.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,823 shares of the company's stock after selling 489,000 shares during the quarter. Renaissance Technologies LLC's holdings in Equinor ASA were worth $2,229,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in Equinor ASA by 1,794.0% in the 4th quarter. UMB Bank n.a. now owns 1,269 shares of the company's stock valued at $30,000 after purchasing an additional 1,202 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Equinor ASA by 86.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,318 shares of the company's stock valued at $31,000 after buying an additional 610 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Equinor ASA during the 1st quarter worth approximately $35,000. McIlrath & Eck LLC acquired a new stake in shares of Equinor ASA during the 2nd quarter worth approximately $36,000. Finally, Assetmark Inc. raised its position in shares of Equinor ASA by 130.2% during the 1st quarter. Assetmark Inc. now owns 1,036 shares of the company's stock valued at $44,000 after buying an additional 586 shares during the period. 5.51% of the stock is currently owned by institutional investors and hedge funds.

Equinor ASA Stock Performance

Shares of EQNR stock opened at $40.98 on Tuesday. The stock's 50-day moving average is $36.01 and its two-hundred day moving average is $35.22. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.10 and a current ratio of 1.18. Equinor ASA has a 1 year low of $22.26 and a 1 year high of $43.46. The firm has a market cap of $97.97 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 2.56 and a beta of 0.04.

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 the consensus estimate of $1.39 by ($0.06). The firm had revenue of $34.02 billion during the quarter, compared to analysts' expectations of $34.03 billion. Equinor ASA had a net margin of 7.92% and a return on equity of 23.60%. Analysts predict that Equinor ASA will post 4.93 earnings per share for the current year.

Equinor ASA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 16th will be paid a $0.39 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.56 dividend on an annualized basis and a yield of 3.8%. Equinor ASA's payout ratio is currently 34.88%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EQNR. DZ Bank upgraded Equinor ASA from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 6th. Royal Bank Of Canada raised Equinor ASA from an "underperform" rating to a "sector perform" rating in a research note on Thursday, July 23rd. Weiss Ratings raised Equinor ASA from a "hold (c+)" rating to a "buy (b)" rating in a research report on Thursday, July 23rd. Wall Street Zen raised shares of Equinor ASA from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, TD Cowen increased their target price on shares of Equinor ASA from $37.00 to $38.00 and gave the stock a "hold" rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $39.20.

Equinor ASA Company Profile

Equinor ASA NYSE: EQNR is a Norway-based integrated energy company headquartered in Stavanger. Historically established as Statoil in the 1970s to develop Norway's petroleum resources, the company changed its name to Equinor in 2018 to reflect a strategic shift toward a broader energy portfolio. Equinor's operations span the full upstream value chain, including exploration, development and production of oil and natural gas, alongside trading and marketing activities that support its global commercial operations.

In recent years Equinor has pursued a transition strategy that combines continued development of conventional oil and gas resources with growing investments in low‑carbon energy.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source