11,070 Shares in Equinor ASA $EQNR Purchased by Naviter Wealth LLC

Key Points

• Naviter Wealth LLC acquired 11,070 shares of Equinor ASA valued at approximately $278,000, highlighting increasing institutional interest in the company.
• Equinor ASA's recent earnings report revealed an EPS of $0.64, falling short of analysts’ expectations of $0.66, despite generating a revenue of $25.12 billion.
• Equinor ASA's stock has seen multiple downgrades from analysts, with a current average rating of "Reduce" and a target price of $22.71.

Naviter Wealth LLC purchased a new position in shares of Equinor ASA (NYSE:EQNR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,070 shares of the company's stock, valued at approximately $278,000.

Several other large investors have also recently added to or reduced their stakes in EQNR. Rhumbline Advisers raised its holdings in Equinor ASA by 20.1% during the first quarter. Rhumbline Advisers now owns 35,612 shares of the company's stock worth $942,000 after purchasing an additional 5,962 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Equinor ASA by 9.7% during the 1st quarter. Farther Finance Advisors LLC now owns 6,769 shares of the company's stock worth $182,000 after acquiring an additional 596 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Equinor ASA by 36.4% in the 1st quarter. GAMMA Investing LLC now owns 2,355 shares of the company's stock worth $62,000 after acquiring an additional 629 shares during the period. Sound Income Strategies LLC increased its stake in Equinor ASA by 725.4% in the 1st quarter. Sound Income Strategies LLC now owns 974 shares of the company's stock valued at $26,000 after purchasing an additional 856 shares in the last quarter. Finally, Mission Wealth Management LP increased its stake in Equinor ASA by 4.5% in the 1st quarter. Mission Wealth Management LP now owns 12,236 shares of the company's stock valued at $324,000 after purchasing an additional 522 shares in the last quarter. 5.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Hsbc Global Res downgraded Equinor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. DZ Bank downgraded Equinor ASA from a "strong-buy" rating to a "strong sell" rating in a research note on Wednesday, October 8th. Weiss Ratings raised Equinor ASA from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, October 8th. Morgan Stanley lowered shares of Equinor ASA from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, September 3rd. Finally, UBS Group lowered shares of Equinor ASA from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 1st. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $22.71.

Equinor ASA Stock Down 1.8%

Shares of NYSE EQNR opened at $23.10 on Wednesday. Equinor ASA has a 1 year low of $21.41 and a 1 year high of $28.26. The firm's 50 day moving average price is $24.52 and its 200 day moving average price is $24.61. The firm has a market cap of $68.01 billion, a P/E ratio of 7.67, a price-to-earnings-growth ratio of 0.85 and a beta of 0.52. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.37 and a current ratio of 1.47.

Equinor ASA (NYSE:EQNR - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.02). 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 for the quarter, compared to analyst estimates of $23.88 billion. As a group, sell-side analysts anticipate that Equinor ASA will post 3.46 earnings per share for the current year.

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.

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