Hexagon Capital Partners LLC Cuts Stock Position in Equinor ASA (NYSE:EQNR)

Hexagon Capital Partners LLC cut its position in Equinor ASA (NYSE:EQNR) by 28.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,082 shares of the company’s stock after selling 2,410 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Equinor ASA were worth $154,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Milestone Asset Management LLC purchased a new position in Equinor ASA during the 2nd quarter worth $794,000. US Bancorp DE raised its position in shares of Equinor ASA by 228.5% in the 1st quarter. US Bancorp DE now owns 161,639 shares of the company’s stock valued at $4,369,000 after purchasing an additional 112,438 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Equinor ASA by 90.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 44,592 shares of the company’s stock worth $1,205,000 after purchasing an additional 21,130 shares in the last quarter. Virtu Financial LLC purchased a new stake in Equinor ASA during the 1st quarter worth approximately $670,000. Finally, Empowered Funds LLC acquired a new position in Equinor ASA during the 1st quarter valued at approximately $1,492,000. 5.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Citigroup upgraded shares of Equinor ASA to a “strong sell” rating in a research note on Wednesday, October 2nd. StockNews.com lowered Equinor ASA from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 29th. UBS Group raised Equinor ASA from a “sell” rating to a “neutral” rating in a report on Thursday, August 8th. TD Cowen cut their price target on shares of Equinor ASA from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, July 10th. Finally, Morgan Stanley cut shares of Equinor ASA from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $30.50 to $25.80 in a research note on Thursday, August 29th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Equinor ASA presently has an average rating of “Hold” and a consensus target price of $26.90.

Equinor ASA Price Performance

Shares of NYSE EQNR opened at $25.42 on Friday. 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 stock has a market capitalization of $70.99 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 2.31 and a beta of 0.83. The firm’s 50 day simple moving average is $26.09 and its 200-day simple moving average is $27.11. Equinor ASA has a 12 month low of $24.02 and a 12 month high of $34.73.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The company had revenue of $25.54 billion for the quarter, compared to analyst estimates of $25.93 billion. Equinor ASA had a net margin of 9.11% and a return on equity of 20.65%. During the same quarter last year, the business earned $0.74 earnings per share. Analysts expect that Equinor ASA will post 3.32 EPS for the current year.

Equinor ASA Cuts Dividend

The company also recently declared a — dividend, which was paid on Wednesday, August 28th. Investors of record on Monday, August 19th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a yield of 4.1%. Equinor ASA’s dividend payout ratio is presently 36.28%.

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.