Equinor ASA $EQNR Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Equinor ASA by 6.0%, owning approximately 3.9 million shares, valued at $103.2 million, after selling 248,671 shares.
• Equinor ASA reported quarterly earnings of $0.64 EPS, missing analysts' expectations, while revenue was $25.12 billion, surpassing forecasts.
• The company declared a dividend of $0.304 per share, with a record date of August 20th and an ex-dividend date of August 19th, reflecting a high dividend yield of 496.0%.

Wellington Management Group LLP decreased its holdings in Equinor ASA (NYSE:EQNR - Free Report) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,902,433 shares of the company's stock after selling 248,671 shares during the period. Wellington Management Group LLP owned about 0.14% of Equinor ASA worth $103,219,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. grew its position in shares of Equinor ASA by 100.2% during the 4th quarter. Invesco Ltd. now owns 95,830 shares of the company's stock worth $2,270,000 after buying an additional 47,967 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Equinor ASA in the fourth quarter worth about $909,000. Barclays PLC acquired a new stake in shares of Equinor ASA during the fourth quarter worth about $1,120,000. Mariner LLC lifted its holdings in shares of Equinor ASA by 16.9% during the fourth quarter. Mariner LLC now owns 60,598 shares of the company's stock worth $1,435,000 after purchasing an additional 8,769 shares during the period. Finally, GeoWealth Management LLC lifted its holdings in shares of Equinor ASA by 254.5% during the fourth quarter. GeoWealth Management LLC now owns 1,372 shares of the company's stock worth $33,000 after purchasing an additional 985 shares during the period. Hedge funds and other institutional investors own 5.51% of the company's stock.

Equinor ASA Price Performance

Shares of Equinor ASA stock traded up $0.11 on Wednesday, reaching $24.60. The company's stock had a trading volume of 841,945 shares, compared to its average volume of 4,106,700. The company has a market capitalization of $72.43 billion, a P/E ratio of 8.16, a PEG ratio of 0.86 and a beta of 0.59. Equinor ASA has a 52-week low of $21.41 and a 52-week high of $28.26. The stock has a 50-day moving average price of $25.52 and a 200-day moving average price of $24.48. The company has a quick ratio of 1.37, a current ratio of 1.47 and a debt-to-equity ratio of 0.58.

Equinor ASA (NYSE:EQNR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.02). The business had revenue of $25.12 billion during the quarter, compared to analysts' expectations of $23.88 billion. Equinor ASA had a net margin of 7.60% and a return on equity of 16.91%. Analysts expect that Equinor ASA will post 3.46 EPS for the current year.

Equinor ASA Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Berenberg Bank cut Equinor ASA from a "buy" rating to a "hold" rating and set a $26.44 price target for the company. in a research report on Tuesday, May 20th. JPMorgan Chase & Co. cut Equinor ASA from a "neutral" rating to an "underweight" rating in a research report on Tuesday, August 12th. Barclays cut Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Morgan Stanley cut Equinor ASA from an "overweight" rating to an "equal weight" rating and set a $22.70 price target for the company. in a research report on Monday, May 12th. Finally, UBS Group cut Equinor ASA from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 1st. 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's stock. According to data from MarketBeat.com, the stock presently 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.