Legacy Wealth Asset Management LLC Raises Stake in Equinor ASA (NYSE:EQNR)

Legacy Wealth Asset Management LLC raised its position in Equinor ASA (NYSE:EQNR) by 29.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 53,171 shares of the company’s stock after acquiring an additional 12,205 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Equinor ASA were worth $1,406,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Equinor ASA by 62.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 62,732 shares of the company’s stock worth $1,486,000 after acquiring an additional 24,090 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Equinor ASA in the 4th quarter worth $909,000. ABC Arbitrage SA acquired a new stake in shares of Equinor ASA in the 4th quarter worth $9,043,000. Barclays PLC acquired a new stake in shares of Equinor ASA in the 4th quarter worth $1,120,000. Finally, Folketrygdfondet lifted its stake in shares of Equinor ASA by 4.0% in the 4th quarter. Folketrygdfondet now owns 111,466,079 shares of the company’s stock worth $2,640,631,000 after acquiring an additional 4,300,472 shares during the period. Institutional investors and hedge funds own 5.51% of the company’s stock.

Equinor ASA Stock Performance

NYSE:EQNR opened at $23.46 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.36 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $23.63 and a two-hundred day moving average price of $23.81. Equinor ASA has a twelve month low of $21.41 and a twelve month high of $29.32. The company has a market capitalization of $65.52 billion, a P/E ratio of 7.54, a price-to-earnings-growth ratio of 0.58 and a beta of 0.58.

Equinor ASA (NYSE:EQNR) last posted its 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 business had revenue of $27.14 billion for the quarter, compared to analysts’ expectations of $27.16 billion. As a group, research analysts expect that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Equinor ASA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th were issued a dividend of $0.304 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.22 annualized dividend and a yield of 5.18%. Equinor ASA’s dividend payout ratio (DPR) is currently 46.84%.

Analysts Set New Price Targets

Several analysts recently commented on EQNR shares. Danske upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. DZ Bank upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Wall Street Zen cut shares of Equinor ASA from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Berenberg Bank cut shares of Equinor ASA from a “buy” rating to a “hold” rating and set a $26.44 price objective for the company. in a research note on Tuesday, May 20th. Finally, Kepler Capital Markets cut shares of Equinor ASA from a “hold” rating to a “reduce” rating in a research note on Tuesday, May 20th. Four analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Equinor ASA currently has an average rating of “Hold” and an average price target of $22.71.

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.