Summit Securities Group LLC Makes New Investment in 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 filing with the Securities and Exchange Commission (SEC). The fund bought 21,961 shares of the company's stock, valued at approximately $581,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Freestone Capital Holdings LLC grew its holdings in shares of Equinor ASA by 29.2% during the first quarter. Freestone Capital Holdings LLC now owns 31,655 shares of the company's stock worth $837,000 after purchasing an additional 7,147 shares during the last quarter. Corient IA LLC acquired a new position in Equinor ASA in the first quarter valued at approximately $264,000. Cresset Asset Management LLC lifted its stake in Equinor ASA by 62.3% in the first quarter. Cresset Asset Management LLC now owns 27,734 shares of the company's stock valued at $734,000 after buying an additional 10,646 shares during the period. American Century Companies Inc. increased its holdings in shares of Equinor ASA by 4.2% during the first quarter. American Century Companies Inc. now owns 270,336 shares of the company's stock valued at $7,150,000 after acquiring an additional 10,830 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Equinor ASA during the first quarter valued at approximately $263,000. 5.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Hsbc Global Res downgraded Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Pareto Securities cut Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. TD Cowen dropped their price objective on Equinor ASA from $22.00 to $19.00 and set a "hold" rating on the stock in a report on Friday, May 2nd. Barclays cut Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Kepler Capital Markets cut Equinor ASA from a "hold" rating to a "reduce" rating in a report on Tuesday, May 20th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $22.71.

Equinor ASA Stock Up 0.9%

NYSE:EQNR traded up $0.2150 during trading hours on Friday, reaching $25.1850. 1,146,856 shares of the company traded hands, compared to its average volume of 4,137,335. The stock has a market capitalization of $74.16 billion, a P/E ratio of 8.35, a P/E/G ratio of 0.84 and a beta of 0.59. The business's 50-day moving average price is $25.70 and its two-hundred day moving average price is $24.45. Equinor ASA has a 1 year low of $21.41 and a 1 year high of $28.26. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.58.

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

Equinor ASA Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.304 per share. The ex-dividend date is Tuesday, August 19th. This represents a yield of 496.0%. Equinor ASA's dividend payout ratio is 40.53%.

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.