Wellington Management Group LLP Sells 460,710 Shares of Equinor ASA $EQNR

Key Points

• Wellington Management reduced its Equinor stake by 37.7%, selling 460,710 shares and retaining 760,673 shares valued at approximately $23.9 million. Institutional investors collectively own 5.51% of the company.
• Equinor reported quarterly EPS of $1.33, below the $1.39 consensus estimate, while revenue of $34.02 billion was roughly in line with expectations. Shares opened at $42.09, near their 12-month high of $44.33.
• The company declared a quarterly dividend of $0.39 per share, equivalent to $1.56 annually and a 3.7% yield. Analysts remain broadly cautious, with a consensus “Hold” rating and a $39.20 price target.

Wellington Management Group LLP lowered its stake in shares of Equinor ASA (NYSE:EQNR - Free Report) by 37.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 760,673 shares of the company's stock after selling 460,710 shares during the period. Wellington Management Group LLP's holdings in Equinor ASA were worth $23,885,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EQNR. Royal Bank of Canada raised its stake in shares of Equinor ASA by 11.1% during the 1st quarter. Royal Bank of Canada now owns 148,723 shares of the company's stock valued at $3,932,000 after purchasing an additional 14,913 shares during the period. AQR Capital Management LLC bought a new position in Equinor ASA in the 1st quarter worth about $263,000. Empowered Funds LLC grew its holdings in Equinor ASA by 1.9% during the 1st quarter. Empowered Funds LLC now owns 112,194 shares of the company's stock valued at $2,968,000 after buying an additional 2,112 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Equinor ASA during the 1st quarter valued at about $816,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Equinor ASA by 50.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,230 shares of the company's stock valued at $131,000 after buying an additional 1,751 shares in the last quarter. 5.51% of the stock is owned by institutional investors.

Equinor ASA Stock Performance

Shares of EQNR opened at $42.09 on Friday. The company has a market cap of $100.63 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 2.78 and a beta of 0.03. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $38.76 and a 200-day moving average price of $37.20. Equinor ASA has a 12-month low of $22.26 and a 12-month high of $44.33.

Equinor ASA (NYSE:EQNR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.06). The business had revenue of $34.02 billion for the quarter, compared to analysts' expectations 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 4.92 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 Wednesday, November 25th. Shareholders of record on Monday, November 16th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, November 16th. Equinor ASA's payout ratio is currently 34.88%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EQNR shares. Zacks Research downgraded shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. 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, July 24th. Wall Street Zen lowered shares of Equinor ASA from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 22nd. Weiss Ratings upgraded shares of Equinor ASA from a "hold (c+)" rating to a "buy (b)" rating in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada raised shares of Equinor ASA from an "underperform" rating to a "sector perform" rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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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