Allspring Global Investments Holdings LLC Takes Position in Equinor ASA $EQNR

Allspring Global Investments Holdings LLC acquired a new position in shares of Equinor ASA (NYSE:EQNR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,053 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also modified their holdings of EQNR. Montag A & Associates Inc. acquired a new position in Equinor ASA in the 1st quarter worth about $53,000. Wayfinding Financial LLC acquired a new position in Equinor ASA in the 1st quarter worth about $54,000. Headlands Technologies LLC acquired a new position in Equinor ASA in the 1st quarter worth about $57,000. Assetmark Inc. increased its holdings in Equinor ASA by 7,586.7% in the 1st quarter. Assetmark Inc. now owns 2,306 shares of the company’s stock worth $61,000 after purchasing an additional 2,276 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Equinor ASA by 36.4% in the 1st quarter. GAMMA Investing LLC now owns 2,355 shares of the company’s stock worth $62,000 after purchasing an additional 629 shares in the last quarter. 5.51% of the stock is currently owned by institutional investors.

Equinor ASA Stock Performance

NYSE:EQNR opened at $24.23 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.37. The business has a fifty day simple moving average of $24.36 and a two-hundred day simple moving average of $24.56. Equinor ASA has a 1 year low of $21.41 and a 1 year high of $28.26. The company has a market capitalization of $71.34 billion, a P/E ratio of 8.05, a P/E/G ratio of 0.87 and a beta of 0.52.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). Equinor ASA had a net margin of 7.60% and a return on equity of 16.91%. The company had revenue of $25.12 billion during the quarter, compared to analysts’ expectations of $23.88 billion. On average, analysts expect that Equinor ASA will post 3.46 earnings per share for the current year.

Equinor ASA Increases Dividend

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on EQNR. JPMorgan Chase & Co. cut Equinor ASA from a “neutral” rating to an “underweight” rating in a research note on Tuesday, August 12th. Sanford C. Bernstein cut Equinor ASA from an “outperform” rating to a “market perform” rating in a research note on Friday, October 17th. Weiss Ratings cut Equinor ASA from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday. Hsbc Global Res cut Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Finally, UBS Group cut Equinor ASA from a “neutral” rating to a “sell” rating in a research note on Tuesday, July 1st. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and eight have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $22.71.

About Equinor ASA

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.