Gibbs Wealth Management Makes New Investment in Equinor ASA $EQNR

Key Points

• Gibbs Wealth Management opened a new position in Equinor ASA during the first quarter, buying 28,179 shares worth about $1.19 million.
• Equinor’s latest quarterly results missed earnings expectations, reporting EPS of $1.33 versus the $1.39 consensus, while revenue came in essentially in line at $34.02 billion.
• The company declared a quarterly dividend of $0.39 per share, which annualizes to $1.56 and implies a 3.9% yield; analysts currently rate the stock a consensus “Hold” with an average target price of $39.20.

Gibbs Wealth Management purchased a new position in Equinor ASA (NYSE:EQNR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 28,179 shares of the company's stock, valued at approximately $1,189,000.

Several other hedge funds also recently made changes to their positions in EQNR. UMB Bank n.a. boosted its stake 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 worth $30,000 after purchasing an additional 1,202 shares during the period. Global Retirement Partners LLC increased its position in shares of Equinor ASA by 86.2% during the fourth 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 bought a new stake in shares of Equinor ASA during the first quarter valued at about $35,000. McIlrath & Eck LLC purchased a new stake in shares of Equinor ASA in the second quarter worth about $36,000. Finally, Assetmark Inc. lifted its holdings in shares of Equinor ASA by 130.2% in the first quarter. Assetmark Inc. now owns 1,036 shares of the company's stock worth $44,000 after buying an additional 586 shares in the last quarter. 5.51% of the stock is currently owned by hedge funds and other institutional investors.

Equinor ASA Stock Performance

Shares of EQNR opened at $40.38 on Friday. Equinor ASA has a 12-month low of $22.26 and a 12-month high of $43.46. The company has a current ratio of 1.18, a quick ratio of 1.12 and a debt-to-equity ratio of 0.56. The company has a market cap of $118.91 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 2.62 and a beta of 0.06. The stock has a 50-day moving average price of $35.69 and a 200-day moving average price of $33.96.

Equinor ASA (NYSE:EQNR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.06). The company had revenue of $34.02 billion during the quarter, compared to the consensus estimate of $34.03 billion. Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%. As a group, equities analysts forecast that Equinor ASA will post 4.85 earnings per share for the current fiscal year.

Equinor ASA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Friday, August 14th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, August 14th. Equinor ASA's payout ratio is currently 34.88%.

Analysts Set New Price Targets

EQNR has been the subject of several recent analyst reports. TD Cowen boosted their price objective on shares of Equinor ASA from $37.00 to $38.00 and gave the company a "hold" rating in a research note on Friday. Rothschild & Co Redburn raised shares of Equinor ASA from a "strong sell" rating to a "hold" rating in a report on Thursday, April 9th. Royal Bank Of Canada raised shares of Equinor ASA from an "underperform" rating to a "sector perform" rating in a report on Thursday. Pareto Securities lowered shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 27th. Finally, DZ Bank raised shares of Equinor ASA from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $39.20.

Equinor ASA 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.

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