Readystate Asset Management LP Takes Position in Equinor ASA $EQNR

Readystate Asset Management LP acquired a new position in shares of Equinor ASA (NYSE:EQNR) in the first quarter, Holdings Channel reports. The firm acquired 107,670 shares of the company’s stock, valued at approximately $4,544,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of Equinor ASA by 11.1% during the first quarter. Royal Bank of Canada now owns 148,723 shares of the company’s stock valued at $3,932,000 after buying an additional 14,913 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Equinor ASA during the 1st quarter worth approximately $263,000. Empowered Funds LLC lifted its position in Equinor ASA by 1.9% during the first quarter. Empowered Funds LLC now owns 112,194 shares of the company’s stock valued at $2,968,000 after acquiring an additional 2,112 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Equinor ASA in the first quarter valued at approximately $816,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Equinor ASA by 50.3% in the second quarter. EverSource Wealth Advisors LLC now owns 5,230 shares of the company’s stock worth $131,000 after purchasing an additional 1,751 shares during the last quarter. Hedge funds and other institutional investors own 5.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on EQNR shares. Zacks Research cut Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings raised Equinor ASA from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Royal Bank Of Canada upgraded shares of Equinor ASA from an “underperform” rating to a “sector perform” rating in a report on Thursday, July 23rd. Wall Street Zen upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, TD Cowen lifted their price objective on shares of Equinor ASA from $37.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Equinor ASA currently has a consensus rating of “Hold” and an average price target of $39.20.

Equinor ASA Price Performance

Shares of NYSE EQNR opened at $38.31 on Wednesday. Equinor ASA has a 52 week low of $22.26 and a 52 week high of $43.46. The business’s 50 day moving average price is $35.62 and its 200 day moving average price is $34.25. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 0.56. The firm has a market cap of $112.81 billion, a P/E ratio of 10.44, a P/E/G ratio of 2.55 and a beta of 0.06.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%.The business had revenue of $34.02 billion for the quarter, compared to analysts’ expectations of $34.03 billion. On average, sell-side analysts expect that Equinor ASA will post 4.9 earnings per share for the current year.

Equinor ASA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be paid a $0.39 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.1%. Equinor ASA’s dividend payout ratio is presently 34.88%.

Equinor ASA Company 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.