Chase Investment Counsel Corp Makes New Investment in Equinor ASA (NYSE:EQNR)

Chase Investment Counsel Corp purchased a new position in shares of Equinor ASA (NYSE:EQNR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 38,000 shares of the company’s stock, valued at approximately $1,085,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Equinor ASA by 2,359.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,783,338 shares of the company’s stock valued at $183,354,000 after acquiring an additional 6,507,511 shares during the last quarter. Earnest Partners LLC raised its holdings in Equinor ASA by 4.5% in the 1st quarter. Earnest Partners LLC now owns 3,865,504 shares of the company’s stock valued at $104,485,000 after buying an additional 166,131 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Equinor ASA by 9.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,432,242 shares of the company’s stock worth $108,596,000 after buying an additional 285,662 shares during the period. CIBC Private Wealth Group LLC grew its holdings in Equinor ASA by 39.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,045,722 shares of the company’s stock worth $33,105,000 after acquiring an additional 295,162 shares during the last quarter. Finally, Cambiar Investors LLC increased its position in Equinor ASA by 3.9% in the 2nd quarter. Cambiar Investors LLC now owns 572,243 shares of the company’s stock valued at $16,343,000 after acquiring an additional 21,469 shares during the period. 5.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Equinor ASA Stock Performance

Shares of EQNR stock opened at $24.99 on Monday. The firm has a 50 day moving average of $26.10 and a 200-day moving average of $27.14. The company has a market cap of $73.59 billion, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 3.50 and a beta of 0.83. The company has a quick ratio of 1.43, a current ratio of 1.53 and a debt-to-equity ratio of 0.53. Equinor ASA has a 52 week low of $24.02 and a 52 week high of $34.73.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $25.54 billion during the quarter, compared to the consensus estimate of $25.93 billion. Equinor ASA had a net margin of 9.11% and a return on equity of 20.65%. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts forecast that Equinor ASA will post 3.3 earnings per share for the current 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 issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a yield of 4.1%. Equinor ASA’s payout ratio is currently 43.34%.

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.