Truist Financial Corp Boosts Stake in Equinor ASA (NYSE:EQNR)

Truist Financial Corp raised its holdings in Equinor ASA (NYSE:EQNR) by 9.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,900 shares of the company’s stock after purchasing an additional 1,167 shares during the quarter. Truist Financial Corp’s holdings in Equinor ASA were worth $397,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Chase Investment Counsel Corp purchased a new stake in Equinor ASA in the second quarter valued at $1,085,000. Northwestern Mutual Wealth Management Co. raised its position in Equinor ASA by 2.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,810 shares of the company’s stock valued at $480,000 after purchasing an additional 440 shares during the period. Creative Planning raised its holdings in shares of Equinor ASA by 39.1% in the 2nd quarter. Creative Planning now owns 54,888 shares of the company’s stock valued at $1,568,000 after buying an additional 15,419 shares during the period. Susquehanna International Securities Ltd. purchased a new stake in shares of Equinor ASA in the 2nd quarter valued at $286,000. Finally, Bank of Montreal Can raised its holdings in shares of Equinor ASA by 7.4% in the 2nd quarter. Bank of Montreal Can now owns 136,581 shares of the company’s stock valued at $3,903,000 after buying an additional 9,406 shares during the period. Hedge funds and other institutional investors own 5.51% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on EQNR. UBS Group upgraded Equinor ASA from a “sell” rating to a “neutral” rating in a report on Thursday, August 8th. Barclays upgraded Equinor ASA to a “hold” rating in a report on Wednesday, October 2nd. TD Cowen cut their price objective on Equinor ASA from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, July 10th. Citigroup upgraded Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley upgraded Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price objective on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.90.

Equinor ASA Trading Up 0.5 %

EQNR opened at $24.32 on Friday. Equinor ASA has a 12 month low of $24.02 and a 12 month high of $34.73. The stock has a market capitalization of $71.62 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 2.36 and a beta of 0.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.53 and a quick ratio of 1.43. The business has a fifty day moving average price of $25.93 and a 200 day moving average price of $27.02.

Equinor ASA (NYSE:EQNR) last released its earnings results on Wednesday, July 24th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Equinor ASA had a return on equity of 20.65% and a net margin of 9.11%. The firm had revenue of $25.54 billion during the quarter, compared to analysts’ expectations of $25.93 billion. During the same period in the previous year, the firm posted $0.74 EPS. Sell-side analysts expect that Equinor ASA will post 3.34 earnings per share for the current fiscal year.

Equinor ASA Cuts Dividend

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

Equinor ASA 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.