Norden Group LLC Makes New Investment in Equinor ASA (NYSE:EQNR)

Norden Group LLC bought a new position in shares of Equinor ASA (NYSE:EQNR) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 118,637 shares of the company’s stock, valued at approximately $3,388,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQNR. Price T Rowe Associates Inc. MD lifted its holdings in shares of Equinor ASA by 2,359.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,783,338 shares of the company’s stock valued at $183,354,000 after purchasing an additional 6,507,511 shares in the last quarter. Folketrygdfondet lifted its holdings in shares of Equinor ASA by 0.9% in the fourth quarter. Folketrygdfondet now owns 107,959,982 shares of the company’s stock valued at $3,415,854,000 after purchasing an additional 917,330 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Equinor ASA by 39.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,045,722 shares of the company’s stock valued at $33,105,000 after purchasing an additional 295,162 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Equinor ASA by 9.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,432,242 shares of the company’s stock valued at $108,596,000 after purchasing an additional 285,662 shares in the last quarter. Finally, Capital Fund Management S.A. lifted its holdings in shares of Equinor ASA by 301.0% in the fourth quarter. Capital Fund Management S.A. now owns 274,743 shares of the company’s stock valued at $8,693,000 after purchasing an additional 206,234 shares in the last quarter. 5.51% of the stock is currently owned by institutional investors.

Equinor ASA Price Performance

NYSE:EQNR traded down $0.38 during trading hours on Friday, reaching $24.93. 3,361,760 shares of the company were exchanged, compared to its average volume of 2,442,730. The company has a market capitalization of $69.62 billion, a P/E ratio of 7.72, a P/E/G ratio of 3.68 and a beta of 0.83. Equinor ASA has a 1-year low of $24.44 and a 1-year high of $34.73. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.53 and a quick ratio of 1.43. The business has a 50 day moving average of $26.94 and a 200 day moving average of $27.16.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $25.54 billion for the quarter, compared to the consensus estimate of $25.93 billion. Equinor ASA had a return on equity of 20.65% and a net margin of 9.11%. During the same quarter in the prior year, the business posted $0.74 earnings per share. Research analysts forecast that Equinor ASA will post 3.38 EPS for the current year.

Equinor ASA Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EQNR. UBS Group upgraded Equinor ASA from a “sell” rating to a “neutral” rating in a report on Thursday, August 8th. TD Cowen dropped their target price on Equinor ASA from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, July 10th. Morgan Stanley lowered Equinor ASA from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $30.50 to $25.80 in a report on Thursday, August 29th. Finally, StockNews.com lowered Equinor ASA from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 29th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.90.

About Equinor ASA

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.