GAMMA Investing LLC Reduces Holdings in Equinor ASA (NYSE:EQNR)

GAMMA Investing LLC lowered its holdings in shares of Equinor ASA (NYSE:EQNR) by 36.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,355 shares of the company’s stock after selling 787 shares during the period. GAMMA Investing LLC’s holdings in Equinor ASA were worth $34,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of EQNR. EverSource Wealth Advisors LLC increased its stake in shares of Equinor ASA by 27.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock worth $45,000 after purchasing an additional 365 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in Equinor ASA by 0.7% during the second quarter. Crossmark Global Holdings Inc. now owns 56,658 shares of the company’s stock worth $1,618,000 after buying an additional 402 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Equinor ASA by 2.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,810 shares of the company’s stock worth $480,000 after acquiring an additional 440 shares during the last quarter. Profund Advisors LLC lifted its position in shares of Equinor ASA by 3.0% in the second quarter. Profund Advisors LLC now owns 19,260 shares of the company’s stock valued at $550,000 after acquiring an additional 559 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Equinor ASA by 3.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 18,114 shares of the company’s stock valued at $517,000 after acquiring an additional 560 shares during the last quarter. Hedge funds and other institutional investors own 5.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on EQNR shares. UBS Group raised shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research note on Thursday, August 8th. StockNews.com lowered shares of Equinor ASA from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley upgraded shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 target price on the stock in a research report on Monday, October 14th. Citigroup upgraded Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, TD Cowen reduced their price target on Equinor ASA from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.90.

Equinor ASA Price Performance

EQNR opened at $24.14 on Friday. Equinor ASA has a 1 year low of $23.95 and a 1 year high of $34.62. The company’s 50 day simple moving average is $25.87 and its 200 day simple moving average is $27.00. The stock has a market capitalization of $71.09 billion, a PE ratio of 7.47, a P/E/G ratio of 2.36 and a beta of 0.83. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.43 and a current ratio of 1.53.

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, topping analysts’ consensus estimates of $0.81 by $0.03. Equinor ASA had a net margin of 9.11% and a return on equity of 20.65%. The company had revenue of $25.54 billion for the quarter, compared to the consensus estimate of $25.93 billion. During the same quarter last year, the firm posted $0.74 earnings per share. As a group, sell-side analysts expect that Equinor ASA will post 3.34 EPS for the current year.

Equinor ASA Cuts Dividend

The company also recently announced a — dividend, which was paid on Wednesday, August 28th. Investors of record on Monday, August 19th were issued a $0.35 dividend. This represents a yield of 4.1%. The ex-dividend date was Monday, August 19th. Equinor ASA’s payout ratio is currently 43.34%.

Equinor ASA Company 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.