Chesapeake Capital Corp IL Purchases New Shares in Equinor ASA $EQNR

Chesapeake Capital Corp IL purchased a new stake in Equinor ASA (NYSE:EQNR) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 24,102 shares of the company’s stock, valued at approximately $588,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. McIlrath & Eck LLC purchased a new position in shares of Equinor ASA during the second quarter valued at about $36,000. New Millennium Group LLC purchased a new stake in Equinor ASA in the third quarter worth about $57,000. MAI Capital Management lifted its holdings in Equinor ASA by 55.6% in the second quarter. MAI Capital Management now owns 2,339 shares of the company’s stock worth $59,000 after buying an additional 836 shares during the period. Allworth Financial LP boosted its position in Equinor ASA by 378.3% during the 2nd quarter. Allworth Financial LP now owns 3,071 shares of the company’s stock valued at $77,000 after acquiring an additional 2,429 shares in the last quarter. Finally, AlphaCore Capital LLC bought a new stake in Equinor ASA during the 2nd quarter valued at approximately $77,000. 5.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Jefferies Financial Group began coverage on Equinor ASA in a research report on Thursday, January 8th. They issued a “hold” rating for the company. TD Cowen lifted their price target on Equinor ASA from $22.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Bank of America cut Equinor ASA from a “buy” rating to a “neutral” rating in a research note on Thursday, February 5th. Zacks Research upgraded Equinor ASA from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Finally, Weiss Ratings upgraded shares of Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Hold rating and eight have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $24.71.

Equinor ASA Price Performance

Shares of EQNR opened at $35.29 on Friday. Equinor ASA has a fifty-two week low of $21.41 and a fifty-two week high of $35.67. The firm’s 50-day simple moving average is $27.76 and its two-hundred day simple moving average is $25.20. The stock has a market cap of $103.93 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 4.15 and a beta of 0.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.27.

Equinor ASA (NYSE:EQNR) last released its earnings results on Wednesday, February 4th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.21. Equinor ASA had a net margin of 4.74% and a return on equity of 15.23%. The firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $21.31 billion. Analysts anticipate that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Equinor ASA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, May 15th. This is a positive change from Equinor ASA’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a yield of 4.4%. Equinor ASA’s dividend payout ratio (DPR) is presently 64.21%.

Equinor ASA 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.