Bridgefront Capital LLC Acquires New Shares in Equinor ASA (NYSE:EQNR)

Bridgefront Capital LLC bought a new position in shares of Equinor ASA (NYSE:EQNR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,850 shares of the company’s stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EQNR. Manchester Capital Management LLC purchased a new stake in Equinor ASA in the 4th quarter valued at about $33,000. GeoWealth Management LLC lifted its holdings in shares of Equinor ASA by 254.5% in the 4th quarter. GeoWealth Management LLC now owns 1,372 shares of the company’s stock worth $33,000 after acquiring an additional 985 shares during the last quarter. Synergy Asset Management LLC purchased a new position in shares of Equinor ASA during the 4th quarter worth approximately $36,000. R Squared Ltd acquired a new stake in Equinor ASA in the 4th quarter valued at approximately $48,000. Finally, Bessemer Group Inc. raised its position in Equinor ASA by 1,009.8% in the fourth quarter. Bessemer Group Inc. now owns 2,497 shares of the company’s stock valued at $60,000 after purchasing an additional 2,272 shares during the period. Hedge funds and other institutional investors own 5.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EQNR. Nordea Equity Research raised Equinor ASA from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Morgan Stanley cut 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. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Equinor ASA in a research note on Wednesday. TD Cowen cut their target price on shares of Equinor ASA from $22.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, May 2nd. Finally, DZ Bank raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.60.

Equinor ASA Stock Down 1.6 %

Shares of NYSE EQNR opened at $22.90 on Thursday. Equinor ASA has a 1 year low of $21.41 and a 1 year high of $29.32. The company has a market capitalization of $63.97 billion, a price-to-earnings ratio of 7.36, a price-to-earnings-growth ratio of 0.58 and a beta of 0.58. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.36. The business has a 50-day moving average of $23.83 and a two-hundred day moving average of $23.84.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.17). Equinor ASA had a net margin of 8.49% and a return on equity of 20.33%. The company had revenue of $27.14 billion during the quarter, compared to analysts’ expectations of $27.16 billion. On average, analysts forecast that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Equinor ASA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 16th will be paid a dividend of $0.304 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.22 dividend on an annualized basis and a yield of 5.31%. Equinor ASA’s dividend payout ratio is presently 38.29%.

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.