Equinor ASA $EQNR Holdings Raised by Logan Capital Management Inc.

Logan Capital Management Inc. lifted its stake in shares of Equinor ASA (NYSE:EQNR) by 11.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,576 shares of the company’s stock after purchasing an additional 16,727 shares during the quarter. Logan Capital Management Inc.’s holdings in Equinor ASA were worth $4,137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Montag A & Associates Inc. bought a new stake in shares of Equinor ASA during the first quarter valued at about $53,000. Wayfinding Financial LLC bought a new stake in shares of Equinor ASA during the first quarter valued at about $54,000. Headlands Technologies LLC acquired a new position in Equinor ASA during the first quarter worth about $57,000. Assetmark Inc. grew its holdings in Equinor ASA by 7,586.7% during the first quarter. Assetmark Inc. now owns 2,306 shares of the company’s stock worth $61,000 after acquiring an additional 2,276 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Equinor ASA by 36.4% during the first quarter. GAMMA Investing LLC now owns 2,355 shares of the company’s stock worth $62,000 after acquiring an additional 629 shares during the period. 5.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EQNR shares. JPMorgan Chase & Co. lowered Equinor ASA from a “neutral” rating to an “underweight” rating in a report on Tuesday, August 12th. Pareto Securities lowered Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Weiss Ratings lowered Equinor ASA from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday. Sanford C. Bernstein lowered Equinor ASA from an “outperform” rating to a “market perform” rating in a report on Friday, October 17th. Finally, Morgan Stanley lowered Equinor ASA from an “equal weight” rating to an “underweight” rating in a report on Wednesday, September 3rd. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $22.71.

Equinor ASA Trading Down 1.0%

Shares of EQNR opened at $24.13 on Wednesday. The business’s 50-day moving average price is $24.37 and its 200 day moving average price is $24.58. The stock has a market capitalization of $71.04 billion, a P/E ratio of 8.01, a P/E/G ratio of 0.88 and a beta of 0.52. Equinor ASA has a 1-year low of $21.41 and a 1-year high of $28.26. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.58.

Equinor ASA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.48 dividend on an annualized basis and a yield of 6.1%. This is an increase from Equinor ASA’s previous quarterly dividend of $0.30. Equinor ASA’s dividend payout ratio (DPR) is 40.53%.

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.