Renaissance Technologies LLC Lowers Stake in Equinor ASA $EQNR

Renaissance Technologies LLC cut its holdings in Equinor ASA (NYSE:EQNR) by 90.3% during the first quarter, HoldingsChannel reports. The firm owned 52,823 shares of the company’s stock after selling 489,000 shares during the period. Renaissance Technologies LLC’s holdings in Equinor ASA were worth $2,229,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of Equinor ASA by 30.2% during the third quarter. Bank of America Corp DE now owns 15,759,942 shares of the company’s stock worth $384,227,000 after buying an additional 3,659,611 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Equinor ASA by 599.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,966,671 shares of the company’s stock valued at $547,194,000 after acquiring an additional 11,112,362 shares during the period. Morgan Stanley raised its stake in Equinor ASA by 5.6% during the 4th quarter. Morgan Stanley now owns 9,250,933 shares of the company’s stock valued at $218,600,000 after acquiring an additional 493,801 shares during the last quarter. Earnest Partners LLC raised its stake in Equinor ASA by 10.3% during the 4th quarter. Earnest Partners LLC now owns 4,288,512 shares of the company’s stock valued at $101,338,000 after acquiring an additional 401,424 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Equinor ASA by 0.7% during the 3rd quarter. Wellington Management Group LLP now owns 3,852,448 shares of the company’s stock worth $93,923,000 after acquiring an additional 25,250 shares during the period. 5.51% of the stock is owned by hedge funds and other institutional investors.

Equinor ASA Trading Up 5.3%

NYSE:EQNR opened at $40.98 on Tuesday. Equinor ASA has a 1 year low of $22.26 and a 1 year high of $43.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.10 and a current ratio of 1.18. The stock has a fifty day moving average price of $36.01 and a two-hundred day moving average price of $35.22. The stock has a market capitalization of $97.97 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 2.56 and a beta of 0.04.

Equinor ASA (NYSE:EQNR) last issued its earnings results on Tuesday, July 21st. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.06). Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%.The company had revenue of $34.02 billion for the quarter, compared to analysts’ expectations of $34.03 billion. As a group, sell-side analysts anticipate that Equinor ASA will post 4.93 earnings per share for the current fiscal year.

Equinor ASA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 16th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.56 dividend on an annualized basis and a yield of 3.8%. Equinor ASA’s payout ratio is currently 34.88%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EQNR shares. DZ Bank upgraded Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded Equinor ASA from a “buy” rating to a “strong-buy” rating in a research note on Saturday. TD Cowen lifted their price objective on shares of Equinor ASA from $37.00 to $38.00 and gave the company a “hold” rating in a research report on Friday, July 24th. Zacks Research cut shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Weiss Ratings upgraded shares of Equinor ASA from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.