Equinor ASA (NYSE:EQNR) Posts Earnings Results, Misses Expectations By $0.02 EPS

Equinor ASA (NYSE:EQNR - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.02), Zacks reports. Equinor ASA had a return on equity of 16.91% and a net margin of 7.60%. The firm had revenue of $25.12 billion during the quarter, compared to the consensus estimate of $23.88 billion.

Equinor ASA Trading Down 1.2%

EQNR traded down $0.32 during mid-day trading on Friday, reaching $25.37. The stock had a trading volume of 3,282,745 shares, compared to its average volume of 3,478,225. The stock has a market capitalization of $70.84 billion, a P/E ratio of 8.43, a P/E/G ratio of 0.72 and a beta of 0.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.27 and a current ratio of 1.47. The firm's fifty day simple moving average is $25.43 and its two-hundred day simple moving average is $24.39. Equinor ASA has a 52 week low of $21.41 and a 52 week high of $28.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC acquired a new stake in shares of Equinor ASA in the 1st quarter valued at about $263,000. Acadian Asset Management LLC bought a new position in shares of Equinor ASA in the 1st quarter valued at about $816,000. Empowered Funds LLC grew its holdings in shares of Equinor ASA by 1.9% in the 1st quarter. Empowered Funds LLC now owns 112,194 shares of the company's stock valued at $2,968,000 after acquiring an additional 2,112 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Equinor ASA by 11.1% in the 1st quarter. Royal Bank of Canada now owns 148,723 shares of the company's stock valued at $3,932,000 after acquiring an additional 14,913 shares in the last quarter. 5.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EQNR. Barclays lowered Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Equinor ASA in a research report on Wednesday, May 7th. Kepler Capital Markets lowered Equinor ASA from a "hold" rating to a "reduce" rating in a research report on Tuesday, May 20th. UBS Group lowered Equinor ASA from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 1st. Finally, TD Cowen cut their target price on Equinor ASA from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Equinor ASA has a consensus rating of "Hold" and an average price target of $22.71.

Equinor ASA Company 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.