Jennison Associates LLC Takes $8.58 Million Position in Equinor ASA $EQNR

Jennison Associates LLC bought a new position in shares of Equinor ASA (NYSE:EQNR) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 203,367 shares of the company’s stock, valued at approximately $8,582,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EQNR. Blair William & Co. IL lifted its holdings in Equinor ASA by 2.7% in the 4th quarter. Blair William & Co. IL now owns 14,837 shares of the company’s stock valued at $351,000 after purchasing an additional 389 shares in the last quarter. National Bank of Canada FI raised its position in Equinor ASA by 1.1% in the third quarter. National Bank of Canada FI now owns 39,045 shares of the company’s stock valued at $952,000 after purchasing an additional 437 shares during the period. GAMMA Investing LLC lifted its position in Equinor ASA by 7.8% in the fourth quarter. GAMMA Investing LLC now owns 6,148 shares of the company’s stock valued at $145,000 after buying an additional 445 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Equinor ASA by 5.4% in the 4th quarter. TD Asset Management Inc now owns 9,711 shares of the company’s stock worth $229,000 after acquiring an additional 501 shares during the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Equinor ASA by 4.5% during the first quarter. Inspire Investing LLC now owns 11,657 shares of the company’s stock worth $492,000 after buying an additional 503 shares during the period. 5.51% of the stock is owned by hedge funds and other institutional investors.

Equinor ASA Price Performance

EQNR stock opened at $37.58 on Wednesday. The firm has a 50 day moving average of $35.59 and a 200-day moving average of $33.69. The company has a current ratio of 1.24, a quick ratio of 1.12 and a debt-to-equity ratio of 0.57. The company has a market cap of $110.67 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.45 and a beta of 0.06. Equinor ASA has a 12-month low of $22.26 and a 12-month high of $43.46.

Equinor ASA (NYSE:EQNR) last posted its earnings results on Tuesday, May 5th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.47. The company had revenue of $28.40 billion for the quarter, compared to analyst estimates of $28.73 billion. Equinor ASA had a return on equity of 20.01% and a net margin of 5.30%. As a group, equities analysts expect that Equinor ASA will post 4.73 EPS for the current fiscal year.

Equinor ASA Dividend Announcement

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 given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.56 annualized dividend and a yield of 4.2%. Equinor ASA’s dividend payout ratio (DPR) is presently 58.72%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EQNR. Weiss Ratings upgraded shares of Equinor ASA from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Morgan Stanley raised Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $40.40 target price on the stock in a research report on Tuesday, March 24th. DZ Bank upgraded shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Wall Street Zen downgraded Equinor ASA from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Zacks Research lowered Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.70.

About Equinor ASA

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.