Logan Capital Management Inc. Sells 873 Shares of Equinor ASA (NYSE:EQNR)

Logan Capital Management Inc. lowered its holdings in Equinor ASA (NYSE:EQNR) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 115,006 shares of the company’s stock after selling 873 shares during the period. Logan Capital Management Inc.’s holdings in Equinor ASA were worth $2,724,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Equinor ASA by 11.2% during the third quarter. JPMorgan Chase & Co. now owns 94,267 shares of the company’s stock valued at $2,388,000 after acquiring an additional 9,512 shares during the period. Aprio Wealth Management LLC acquired a new stake in shares of Equinor ASA during the 4th quarter worth about $317,000. Ritholtz Wealth Management increased its position in shares of Equinor ASA by 60.1% during the 4th quarter. Ritholtz Wealth Management now owns 157,810 shares of the company’s stock worth $3,739,000 after purchasing an additional 59,254 shares in the last quarter. Brooklyn Investment Group bought a new position in Equinor ASA during the 4th quarter valued at about $61,000. Finally, Ballentine Partners LLC acquired a new position in Equinor ASA in the fourth quarter valued at about $245,000. Institutional investors and hedge funds own 5.51% of the company’s stock.

Equinor ASA Price Performance

EQNR opened at $23.12 on Tuesday. The company has a fifty day moving average price of $23.85 and a two-hundred day moving average price of $23.79. The firm has a market capitalization of $64.56 billion, a PE ratio of 7.43, a P/E/G ratio of 0.58 and a beta of 0.58. Equinor ASA has a 52 week low of $21.41 and a 52 week high of $29.32. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.36 and a current ratio of 1.48.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.17). The company had revenue of $27.14 billion for the quarter, compared to analyst estimates of $27.16 billion. Equinor ASA had a return on equity of 20.33% and a net margin of 8.49%. As a group, analysts anticipate that Equinor ASA will post 3.46 earnings per share for the current year.

Equinor ASA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th will be given a dividend of $0.304 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.22 annualized dividend and a dividend yield of 5.26%. Equinor ASA’s payout ratio is currently 38.29%.

Analysts Set New Price Targets

EQNR has been the subject of a number of recent analyst reports. StockNews.com cut Equinor ASA from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Danske raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. TD Cowen dropped their target price on shares of Equinor ASA from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Friday, May 2nd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Equinor ASA in a research report on Wednesday, May 7th. Finally, HSBC raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.85.

Equinor ASA 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.