Equinor ASA's stock is experiencing a decline in after-hours trading, primarily due to the recent announcement of a significant reduction in holdings by Townsquare Capital LLC. The firm sold 113,051 shares of Equinor, reducing its position by 86.4% during the third quarter. This substantial divestment by an institutional investor may have raised concerns among other investors about the company's future prospects, contributing to the downward pressure on the stock.
Additionally, the ongoing merger between Equinor and Shell's UK offshore assets into a joint venture continues to influence market sentiment. While the merger aims to create the largest independent producer in the UK North Sea, the strategic shift and potential integration challenges may be causing investor apprehension.
Equinor's stock is down 0.06% in after-hours trading, with the current price at $23.23, following a close of $23.25 on December 6, 2024.