GAMMA Investing LLC Purchases 60,564 Shares of Equinor ASA (NYSE:EQNR)

GAMMA Investing LLC lifted its stake in Equinor ASA (NYSE:EQNR - Free Report) by 3,508.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,290 shares of the company's stock after purchasing an additional 60,564 shares during the quarter. GAMMA Investing LLC's holdings in Equinor ASA were worth $1,648,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Moody National Bank Trust Division acquired a new position in shares of Equinor ASA in the 1st quarter valued at $227,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Equinor ASA in the 4th quarter valued at $403,000. Forum Financial Management LP boosted its position in shares of Equinor ASA by 19.1% in the 4th quarter. Forum Financial Management LP now owns 24,925 shares of the company's stock valued at $590,000 after purchasing an additional 3,989 shares during the period. Vise Technologies Inc. boosted its position in shares of Equinor ASA by 18.2% in the 4th quarter. Vise Technologies Inc. now owns 32,689 shares of the company's stock valued at $774,000 after purchasing an additional 5,038 shares during the period. Finally, Voloridge Investment Management LLC boosted its position in shares of Equinor ASA by 958.7% in the 4th quarter. Voloridge Investment Management LLC now owns 1,447,536 shares of the company's stock valued at $34,292,000 after purchasing an additional 1,310,812 shares during the period. Institutional investors and hedge funds own 5.51% of the company's stock.

Wall Street Analyst Weigh In

EQNR has been the subject of a number of research reports. JPMorgan Chase & Co. restated a "neutral" rating on shares of Equinor ASA in a research report on Wednesday, May 7th. TD Cowen decreased their price objective on Equinor ASA from $22.00 to $19.00 and set a "hold" rating for the company in a research report on Friday, May 2nd. Redburn Atlantic lowered Equinor ASA from a "buy" rating to a "sell" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada lowered Equinor ASA from a "sector perform" rating to an "underperform" rating in a research report on Tuesday, April 22nd. 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 investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Equinor ASA currently has an average rating of "Hold" and a consensus price target of $22.71.

Equinor ASA Price Performance

EQNR stock traded down $0.25 during trading on Wednesday, hitting $27.83. The company had a trading volume of 4,561,595 shares, compared to its average volume of 3,667,227. The company has a current ratio of 1.37, a quick ratio of 1.27 and a debt-to-equity ratio of 0.50. Equinor ASA has a fifty-two week low of $21.41 and a fifty-two week high of $29.03. The company has a market cap of $77.72 billion, a P/E ratio of 8.81, a P/E/G ratio of 0.72 and a beta of 0.57. The company has a fifty day moving average price of $23.90 and a two-hundred day moving average price of $23.95.

Equinor ASA (NYSE:EQNR - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.17). Equinor ASA had a net margin of 8.07% and a return on equity of 18.44%. The company had revenue of $27.14 billion during the quarter, compared to the consensus estimate of $27.16 billion. Equities research analysts expect that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Equinor ASA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th were paid a dividend of $0.304 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.22 annualized dividend and a dividend yield of 4.37%. Equinor ASA's dividend payout ratio is currently 38.61%.

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.