Yousif Capital Management LLC Lowers Position in Equinor ASA $EQNR

Key Points

• Yousif Capital Management LLC reduced its stake in Equinor ASA by 74.9% in the second quarter, now holding 11,453 shares valued at approximately $288,000.
• Numerous institutional investors have altered their positions in Equinor ASA, with Citigroup Inc. increasing its shares by an astounding 8,986.2% in the first quarter, now owning over 1.26 million shares worth $33.33 million.
• Equinor has announced an increase in its quarterly dividend from $0.30 to $0.37 per share, reflecting a 5.9% yield based on an annualized dividend of $1.48.

Yousif Capital Management LLC decreased its position in Equinor ASA (NYSE:EQNR - Free Report) by 74.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,453 shares of the company's stock after selling 34,219 shares during the quarter. Yousif Capital Management LLC's holdings in Equinor ASA were worth $288,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Citigroup Inc. grew its position in shares of Equinor ASA by 8,986.2% in the 1st quarter. Citigroup Inc. now owns 1,260,071 shares of the company's stock worth $33,329,000 after buying an additional 1,246,203 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Equinor ASA by 17.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,804,534 shares of the company's stock worth $100,630,000 after purchasing an additional 572,193 shares in the last quarter. Voya Investment Management LLC bought a new stake in shares of Equinor ASA in the 1st quarter worth approximately $7,459,000. Quantbot Technologies LP grew its stake in shares of Equinor ASA by 734.4% in the 1st quarter. Quantbot Technologies LP now owns 261,708 shares of the company's stock worth $6,922,000 after buying an additional 230,344 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in Equinor ASA by 329.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 237,424 shares of the company's stock valued at $6,280,000 after buying an additional 182,113 shares in the last quarter. Institutional investors own 5.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley cut Equinor ASA from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, September 3rd. Weiss Ratings raised Equinor ASA from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, October 8th. UBS Group cut shares of Equinor ASA from a "neutral" rating to a "sell" rating in a research note on Tuesday, July 1st. Hsbc Global Res lowered shares of 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 report on Friday, July 25th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and seven have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $22.71.

Equinor ASA Price Performance

NYSE EQNR opened at $24.95 on Friday. Equinor ASA has a one year low of $21.41 and a one year high of $28.26. The stock has a 50-day moving average of $24.37 and a 200 day moving average of $24.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.37 and a current ratio of 1.47. The company has a market capitalization of $73.48 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 0.86 and a beta of 0.52.

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

Equinor ASA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th will be given a $0.37 dividend. This is a boost from Equinor ASA's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.48 dividend on an annualized basis and a yield of 5.9%. Equinor ASA's payout ratio is presently 40.53%.

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.

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