Renaissance Technologies LLC Sells 400,200 Shares of Equinor ASA (NYSE:EQNR)

Renaissance Technologies LLC decreased its holdings in shares of Equinor ASA (NYSE:EQNR) by 48.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 424,423 shares of the company’s stock after selling 400,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Equinor ASA were worth $12,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Principal Securities Inc. bought a new stake in shares of Equinor ASA during the 4th quarter valued at $30,000. PNC Financial Services Group Inc. increased its position in shares of Equinor ASA by 2.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 50,568 shares of the company’s stock valued at $1,600,000 after buying an additional 1,189 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Equinor ASA by 6.0% in the fourth quarter. Wells Fargo & Company MN now owns 473,455 shares of the company’s stock worth $14,980,000 after buying an additional 26,914 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Equinor ASA by 136.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,090 shares of the company’s stock valued at $34,000 after acquiring an additional 629 shares during the period. Finally, Charter Research & Investment Group Inc. purchased a new position in Equinor ASA during the fourth quarter valued at approximately $221,000. Hedge funds and other institutional investors own 5.51% of the company’s stock.

Wall Street Analyst Weigh In

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

Equinor ASA Stock Performance

NYSE EQNR opened at $24.86 on Monday. Equinor ASA has a 52-week low of $24.08 and a 52-week high of $34.73. The company has a fifty day moving average of $26.32 and a 200-day moving average of $27.18. The company has a market capitalization of $69.43 billion, a P/E ratio of 7.70, a P/E/G ratio of 3.44 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 issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $25.54 billion during the quarter, compared to analyst estimates of $25.93 billion. Equinor ASA had a return on equity of 20.65% and a net margin of 9.11%. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, equities research analysts predict that Equinor ASA will post 3.33 EPS for the current fiscal year.

Equinor ASA Cuts Dividend

The company also recently announced a — dividend, which was paid on Wednesday, August 28th. Shareholders of record on Monday, August 19th were paid a $0.35 dividend. This represents a yield of 4.1%. The ex-dividend date of this dividend was Monday, August 19th. Equinor ASA’s dividend payout ratio is currently 36.84%.

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.