As of its most recent 13F filing with the Securities and Exchange Commission on June 11, 2023, Dorsey Wright & Associates has acquired a new position in shares of Equinor ASA (NYSE:EQNR). This strategic move has allowed the fund to amass a total of 110,872 shares valued at approximately $3,970,000. As a result, Equinor ASA now comprises 1.2% of Dorsey Wright & Associates’ investment portfolio, making it the fund’s 18th largest holding.
Equinor ASA is a Norwegian multinational energy company that specializes in the exploration, production, transport, refining and marketing of petroleum and petroleum-derived products. The company operates through different segments including Exploration and Production Norway, Exploration and Production International, Exploration and Production USA, Marketing Midstream and Processing Renewables among others.
As with any publicly traded company in today’s market climate, EQNR’s share price constantly fluctuates during trading hours based on their corporate progress reports and market performance. On Friday June 11th EQNR shares traded up $0.89 per share to close at $29.11 with over 2.6 million shares being exchanged compared to an average volume of around 3.5 million shares. This is off its fifty-two-week low trading price of $25.23 but still below its high point of $42.53.
When compared to industry standards EQNR remains relatively stable with a debt-to-equity ratio of 0.43 which is considered favorable for investors as well as maintaining current ratios between close competitors within their industry segment. With the comprehensive growth plan they have adopted that includes diversifying into renewable energy products there is much optimism about their future value generating capacity as well.
All this data points to great prospects for Equinor ASA moving forward; however it must be noted that these are not financial advice or recommendations so would-be investors must have in-depth knowledge of the markets and other factors before making investment decisions.
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Equinor ASA attracts interest from institutional investors and research firms, signaling potential growth
Equinor ASA, a multinational energy company headquartered in Norway, has seen various institutional investors modify their holdings of the company recently. Balyasny Asset Management LLC bought a new stake in Equinor ASA worth approximately $146,540,000 in the 3rd quarter. Arrowstreet Capital Limited Partnership also raised its holdings by 42.8% in the 1st quarter to owning 10,186,246 shares valued at $382,086,000 after purchasing an additional 3,052,907 shares during that period. The Renaissance Technologies LLC likewise took interest by buying a new stake worth about $55,819,000 in the first quarter. Additionally, Point72 Asset Management L.P., bought new stakes amounting to around $48,405 and Teachers Retirement System of The State of Kentucky invested around $45,452.
The stock owned by institutional investors and hedge funds is currently compromised of about 5.46% of the total outstanding shares of Equinor ASA. The recent surge of interests from institutional investors may signal potential growth for Equinor ASA and reveals that it is still viewed as a potentially valuable asset among major finance players.
In light of this positive forecast for Equinor ASA’s future stock performance growth trend among both individual and institutional investors alike remains warranted. Research firms have also weighed in on the outlook with Deutsche Bank Aktiengesellschaft upgrading its rating from “hold” to “buy,” Morgan Stanley raising shares from “underweight” to “equal weight,” and Pareto Securities even elevating its rating from “hold” to “buy.” Meanwhile Societe Generale lifted share ratings from ‘hold’ to ‘buy”. Despite these favorable reviews however two research analysts have rated Equinor ASA’s stocks as “sell”, while four have assigned a hold rating and seven gave it a buy rating overall.
Finally indicating promising signs for Equinor ASA’s financial future beyond the endorsements of institutional investors and research firms was the company’s recent quarterly dividend announcement. The dividends are set to be paid on Friday, August 25th with shareholders of record as at Tuesday, August 15th being paid a dividend of $0.90 per share. This represents a confident increase from Equinor ASA’s former quarterly dividend of $0.20 and translates an annualized dividend payout ratio of $3.60 which happens to present itself as an exceptional yield of 12.37% for investors.
Overall these various indicators create a promising picture around Equinor ASA, suggesting that it could have lucrative potential for both audiences interested in short-term gains from investing finally driving long-term growth performance among stocks in the energy sector forward amidst renewed interest following global industry shake-ups seen over the past year.