Ridgewood Investments LLC Makes New Investment in Equinor ASA (NYSE:EQNR)

Ridgewood Investments LLC purchased a new position in Equinor ASA (NYSE:EQNR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,289 shares of the company’s stock, valued at approximately $65,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Atwood & Palmer Inc. acquired a new stake in Equinor ASA during the 2nd quarter worth about $25,000. Principal Securities Inc. acquired a new position in Equinor ASA during the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC grew its stake in Equinor ASA by 136.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,090 shares of the company’s stock valued at $34,000 after acquiring an additional 629 shares in the last quarter. Avalon Trust Co acquired a new stake in Equinor ASA in the 4th quarter valued at about $41,000. Finally, GAMMA Investing LLC acquired a new stake in Equinor ASA in the 4th quarter valued at about $46,000. 5.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EQNR. TD Cowen dropped their price target on Equinor ASA from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, July 10th. Morgan Stanley downgraded Equinor ASA from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $30.50 to $25.80 in a research note on Thursday. StockNews.com raised shares of Equinor ASA from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 21st. Finally, UBS Group upgraded shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Equinor ASA presently has a consensus rating of “Hold” and a consensus price target of $26.90.

Equinor ASA Trading Up 0.4 %

NYSE EQNR traded up $0.09 during trading on Thursday, hitting $27.20. The stock had a trading volume of 3,068,575 shares, compared to its average volume of 3,199,585. Equinor ASA has a twelve month low of $24.44 and a twelve month high of $34.73. The firm has a 50 day moving average price of $27.21 and a 200 day moving average price of $27.15. The company has a market capitalization of $75.95 billion, a PE ratio of 8.41, a PEG ratio of 3.83 and a beta of 0.84. The company has a quick ratio of 1.43, a current ratio of 1.53 and a debt-to-equity ratio of 0.53.

Equinor ASA (NYSE:EQNR) last released its earnings results on Wednesday, July 24th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Equinor ASA had a net margin of 9.11% and a return on equity of 20.65%. The firm had revenue of $25.54 billion for the quarter, compared to analyst estimates of $25.93 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. As a group, equities research analysts forecast that Equinor ASA will post 3.39 earnings per share for the current year.

Equinor ASA Cuts Dividend

The company also recently disclosed a — dividend, which was paid on Wednesday, August 28th. Stockholders of record on Monday, August 19th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a dividend yield of 4.1%. Equinor ASA’s payout ratio is 36.84%.

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.