Summit Securities Group LLC Buys Shares of 21,961 Equinor ASA $EQNR

Key Points

• Summit Securities Group LLC has acquired a new stake in Equinor ASA, purchasing 21,961 shares valued at approximately $581,000 in the first quarter.
• Equinor ASA reported quarterly earnings of $0.64 per share, missing the consensus estimate by $0.02, despite harboring revenue of $25.12 billion that surpassed analyst estimates.
• The company's recent dividend announcement includes a $0.304 dividend per share, leading to a notable dividend yield of 496.0% for shareholders.

Summit Securities Group LLC bought a new stake in Equinor ASA (NYSE:EQNR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,961 shares of the company's stock, valued at approximately $581,000.

Other hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of Equinor ASA by 4.8% in the 4th quarter. Bank of America Corp DE now owns 4,121,392 shares of the company's stock valued at $97,636,000 after buying an additional 188,709 shares during the last quarter. Voloridge Investment Management LLC lifted its stake in Equinor ASA by 958.7% in the fourth quarter. Voloridge Investment Management LLC now owns 1,447,536 shares of the company's stock valued at $34,292,000 after acquiring an additional 1,310,812 shares during the last quarter. Citigroup Inc. lifted its stake in Equinor ASA by 8,986.2% in the first quarter. Citigroup Inc. now owns 1,260,071 shares of the company's stock valued at $33,329,000 after acquiring an additional 1,246,203 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Equinor ASA by 771.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,015,657 shares of the company's stock valued at $24,061,000 after acquiring an additional 899,157 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Equinor ASA by 63.8% during the 4th quarter. Northern Trust Corp now owns 851,312 shares of the company's stock worth $20,168,000 after purchasing an additional 331,684 shares during the last quarter. 5.51% of the stock is currently owned by institutional investors.

Equinor ASA Price Performance

Equinor ASA stock traded up $0.5850 during mid-day trading on Thursday, reaching $24.9650. 4,310,279 shares of the company were exchanged, compared to its average volume of 4,156,522. The firm has a market cap of $73.52 billion, a PE ratio of 8.29, a PEG ratio of 0.82 and a beta of 0.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.37. The company has a fifty day simple moving average of $25.73 and a 200-day simple moving average of $24.44. Equinor ASA has a 12 month low of $21.41 and a 12 month high of $28.26.

Equinor ASA (NYSE:EQNR - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $25.12 billion for the quarter, compared to analyst estimates of $23.88 billion. Equinor ASA had a return on equity of 16.91% and a net margin of 7.60%. As a group, equities research analysts expect that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Equinor ASA Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EQNR shares. Kepler Capital Markets downgraded shares of Equinor ASA from a "hold" rating to a "reduce" rating in a research note on Tuesday, May 20th. Redburn Atlantic cut Equinor ASA from a "buy" rating to a "sell" rating in a research report on Wednesday, April 23rd. Morgan Stanley lowered Equinor ASA from an "overweight" rating to an "equal weight" rating and set a $22.70 target price on the stock. in a report on Monday, May 12th. Hsbc Global Res cut Equinor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Finally, Pareto Securities cut shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price 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.