SIR Capital Management L.P. Makes New Investment in Equinor ASA (NYSE:EQNR)

SIR Capital Management L.P. purchased a new stake in shares of Equinor ASA (NYSE:EQNR) during the fourth quarter, Holdings Channel.com reports. The firm purchased 455,300 shares of the company’s stock, valued at approximately $10,786,000.

Several other hedge funds have also made changes to their positions in EQNR. Charles Schwab Investment Management Inc. grew its position in Equinor ASA by 62.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 62,732 shares of the company’s stock valued at $1,486,000 after purchasing an additional 24,090 shares in the last quarter. Raymond James Financial Inc. bought a new position in Equinor ASA during the fourth quarter worth $909,000. ABC Arbitrage SA bought a new stake in shares of Equinor ASA in the 4th quarter worth approximately $9,043,000. Folketrygdfondet boosted its stake in Equinor ASA by 4.0% during the fourth quarter. Folketrygdfondet now owns 111,466,079 shares of the company’s stock worth $2,640,631,000 after buying an additional 4,300,472 shares in the last quarter. Finally, Drum Hill Capital LLC bought a new stake in shares of Equinor ASA in the 4th quarter valued at approximately $4,023,000. Hedge funds and other institutional investors own 5.51% of the company’s stock.

Analyst Upgrades and Downgrades

EQNR has been the subject of a number of research analyst reports. Danske raised Equinor ASA from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. DZ Bank raised Equinor ASA from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Redburn Atlantic cut Equinor ASA from a “buy” rating to a “sell” rating in a report on Wednesday, April 23rd. Pareto Securities raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Hsbc Global Res upgraded shares of Equinor ASA to a “strong-buy” rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.85.

Equinor ASA Price Performance

Shares of EQNR opened at $23.55 on Friday. The stock has a 50 day simple moving average of $23.87 and a 200 day simple moving average of $23.78. 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. The firm has a market capitalization of $65.77 billion, a PE ratio of 7.57, a P/E/G ratio of 0.58 and a beta of 0.58.

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

Equinor ASA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 16th will be paid a $0.304 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Friday, May 16th. Equinor ASA’s payout ratio is presently 38.29%.

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.