SummitTX Capital L.P. Makes New $708,000 Investment in Equinor ASA $EQNR

SummitTX Capital L.P. acquired a new position in shares of Equinor ASA (NYSE:EQNR) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 16,771 shares of the company’s stock, valued at approximately $708,000.

Several other large investors have also modified their holdings of the stock. UMB Bank n.a. grew its position in shares of Equinor ASA by 1,794.0% in the 4th quarter. UMB Bank n.a. now owns 1,269 shares of the company’s stock valued at $30,000 after buying an additional 1,202 shares during the last quarter. Global Retirement Partners LLC lifted its position in Equinor ASA by 86.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,318 shares of the company’s stock valued at $31,000 after acquiring an additional 610 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in Equinor ASA in the first quarter valued at $35,000. McIlrath & Eck LLC acquired a new position in Equinor ASA in the second quarter valued at $36,000. Finally, Assetmark Inc. grew its holdings in shares of Equinor ASA by 130.2% during the first quarter. Assetmark Inc. now owns 1,036 shares of the company’s stock worth $44,000 after purchasing an additional 586 shares during the last quarter. Institutional investors and hedge funds own 5.51% of the company’s stock.

Equinor ASA Stock Down 0.5%

EQNR opened at $40.74 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.18 and a quick ratio of 1.10. The business has a 50 day simple moving average of $35.70 and a 200-day simple moving average of $34.49. The stock has a market capitalization of $119.98 billion, a P/E ratio of 11.10, a P/E/G ratio of 2.70 and a beta of 0.06. Equinor ASA has a 12 month low of $22.26 and a 12 month high of $43.46.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). The business had revenue of $34.02 billion for the quarter, compared to analyst estimates of $34.03 billion. Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%. On average, equities analysts anticipate that Equinor ASA will post 4.93 earnings per share for the current fiscal year.

Equinor ASA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.8%. Equinor ASA’s dividend payout ratio is 34.88%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EQNR. TD Cowen lifted their target price on Equinor ASA from $37.00 to $38.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. Rothschild & Co Redburn raised Equinor ASA from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 9th. Zacks Research downgraded Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings raised Equinor ASA from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada upgraded Equinor ASA from an “underperform” rating to a “sector perform” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $39.20.

Equinor ASA Company Profile

Equinor ASA (NYSE: EQNR) is a Norway-based integrated energy company headquartered in Stavanger. Historically established as Statoil in the 1970s to develop Norway’s petroleum resources, the company changed its name to Equinor in 2018 to reflect a strategic shift toward a broader energy portfolio. Equinor’s operations span the full upstream value chain, including exploration, development and production of oil and natural gas, alongside trading and marketing activities that support its global commercial operations.

In recent years Equinor has pursued a transition strategy that combines continued development of conventional oil and gas resources with growing investments in low‑carbon energy.