Wellington Management Group LLP Lowers Stock Holdings in Equinor ASA $EQNR

Wellington Management Group LLP lowered its position in shares of Equinor ASA (NYSE:EQNR) by 37.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 760,673 shares of the company’s stock after selling 460,710 shares during the period. Wellington Management Group LLP’s holdings in Equinor ASA were worth $23,885,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EQNR. DJE Kapital AG bought a new position in Equinor ASA during the first quarter valued at approximately $2,913,000. Gibbs Wealth Management purchased a new stake in shares of Equinor ASA in the 1st quarter valued at $1,189,000. Dimensional Fund Advisors LP boosted its stake in shares of Equinor ASA by 24.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 182,992 shares of the company’s stock valued at $7,722,000 after purchasing an additional 36,122 shares in the last quarter. Readystate Asset Management LP bought a new position in shares of Equinor ASA during the 1st quarter valued at $4,544,000. Finally, Jennison Associates LLC bought a new position in shares of Equinor ASA during the 1st quarter valued at $8,582,000. 5.51% of the stock is currently owned by hedge funds and other institutional investors.

Equinor ASA Stock Performance

Shares of NYSE:EQNR opened at $42.09 on Friday. The company has a market cap of $100.63 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 2.78 and a beta of 0.03. The company has a 50-day moving average price of $38.76 and a 200-day moving average price of $37.20. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 0.56. Equinor ASA has a 12 month low of $22.26 and a 12 month high of $44.33.

Equinor ASA (NYSE:EQNR) last posted its earnings results on Tuesday, July 21st. The company reported $1.33 earnings per share (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 business had revenue of $34.02 billion during the quarter, compared to the consensus estimate of $34.03 billion. As a group, equities analysts anticipate that Equinor ASA will post 4.92 EPS for the current year.

Equinor ASA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 16th will be issued a $0.39 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.56 annualized dividend and a yield of 3.7%. Equinor ASA’s dividend payout ratio (DPR) is 34.88%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Royal Bank Of Canada raised shares of Equinor ASA from an “underperform” rating to a “sector perform” rating in a research note on Thursday, July 23rd. Wall Street Zen cut Equinor ASA from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 22nd. Weiss Ratings raised Equinor ASA from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. TD Cowen increased their target price on Equinor ASA from $37.00 to $38.00 and gave the company a “hold” rating in a report on Friday, July 24th. Finally, Zacks Research cut Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $39.20.

About Equinor ASA

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.