Envestnet Portfolio Solutions Inc. Lowers Holdings in Equinor ASA (NYSE:EQNR)

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Equinor ASA (NYSE:EQNR) by 20.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,503 shares of the company’s stock after selling 2,676 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Equinor ASA were worth $249,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of EQNR. Manchester Capital Management LLC purchased a new stake in Equinor ASA in the 4th quarter worth approximately $33,000. Synergy Asset Management LLC purchased a new position in shares of Equinor ASA during the 4th quarter valued at approximately $36,000. R Squared Ltd acquired a new position in shares of Equinor ASA in the 4th quarter valued at $48,000. Brooklyn Investment Group purchased a new stake in Equinor ASA during the fourth quarter worth $61,000. Finally, Smartleaf Asset Management LLC grew its position in Equinor ASA by 325.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,944 shares of the company’s stock valued at $92,000 after buying an additional 3,016 shares during the period. Hedge funds and other institutional investors own 5.51% of the company’s stock.

Equinor ASA Price Performance

Shares of NYSE EQNR opened at $26.05 on Friday. The firm has a 50-day simple moving average of $23.95 and a 200-day simple moving average of $24.19. The company has a quick ratio of 1.36, a current ratio of 1.48 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $72.74 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 0.58 and a beta of 0.79. Equinor ASA has a 52 week low of $21.85 and a 52 week high of $29.32.

Equinor ASA (NYSE:EQNR) last released its earnings results on Wednesday, February 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.19). Equinor ASA had a return on equity of 20.33% and a net margin of 8.49%. On average, equities analysts predict that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Equinor ASA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.38%. The ex-dividend date of this dividend was Friday, February 14th. Equinor ASA’s payout ratio is currently 37.30%.

Wall Street Analyst Weigh In

EQNR has been the subject of a number of analyst reports. Nordea Equity Research upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. DZ Bank upgraded Equinor ASA from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Hsbc Global Res raised Equinor ASA to a “strong-buy” rating in a research note on Monday, February 10th. Morgan Stanley dropped their price target on shares of Equinor ASA from $30.90 to $28.20 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Finally, HSBC upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.10.

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.