Envestnet Asset Management Inc. Has $11.90 Million Stock Holdings in Equinor ASA (NYSE:EQNR)

Envestnet Asset Management Inc. grew its holdings in shares of Equinor ASA (NYSE:EQNR) by 13.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 416,585 shares of the company’s stock after buying an additional 49,029 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Equinor ASA were worth $11,898,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. raised its holdings in shares of Equinor ASA by 6.8% in the second quarter. American Century Companies Inc. now owns 230,252 shares of the company’s stock valued at $6,576,000 after purchasing an additional 14,705 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Equinor ASA by 4.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 37,694 shares of the company’s stock worth $1,077,000 after buying an additional 1,529 shares in the last quarter. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Equinor ASA in the 2nd quarter worth approximately $209,000. Choreo LLC bought a new position in shares of Equinor ASA in the second quarter valued at approximately $279,000. Finally, Wedbush Securities Inc. lifted its holdings in Equinor ASA by 13.0% during the second quarter. Wedbush Securities Inc. now owns 10,578 shares of the company’s stock worth $302,000 after acquiring an additional 1,220 shares during the period. 5.51% of the stock is owned by institutional investors.

Equinor ASA Stock Performance

NYSE:EQNR opened at $24.80 on Thursday. Equinor ASA has a 1-year low of $24.08 and a 1-year high of $34.73. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.53 and a quick ratio of 1.43. The business has a 50 day moving average of $26.25 and a 200 day moving average of $27.17. The company has a market capitalization of $69.25 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 3.48 and a beta of 0.83.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $25.54 billion during the quarter, compared to analysts’ expectations of $25.93 billion. Equinor ASA had a net margin of 9.11% and a return on equity of 20.65%. During the same quarter in the prior year, the company earned $0.74 EPS. On average, sell-side analysts predict that Equinor ASA will post 3.3 earnings per share for the current fiscal year.

Equinor ASA Cuts Dividend

The company also recently declared a — dividend, which was paid on Wednesday, August 28th. Shareholders of record on Monday, August 19th were given a dividend of $0.35 per share. The ex-dividend date was Monday, August 19th. This represents a yield of 4.1%. Equinor ASA’s payout ratio is currently 36.84%.

Wall Street Analysts Forecast Growth

EQNR has been the topic of a number of research reports. Morgan Stanley cut shares of Equinor ASA from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $30.50 to $25.80 in a report on Thursday, August 29th. StockNews.com cut Equinor ASA from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 29th. TD Cowen decreased their price objective on Equinor ASA from $30.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, July 10th. Finally, UBS Group upgraded shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.90.

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.