Voya Investment Management LLC Acquires Shares of 281,985 Equinor ASA $EQNR

Key Points

• Voya Investment Management LLC acquired 281,985 shares of Equinor ASA, valued at approximately $7,459,000, in the first quarter of the year.
• Equinor ASA reported a net margin of 7.60% and a revenue of $25.12 billion for the last quarter, exceeding analysts' expectations.
• Analysts have generally downgraded Equinor ASA, with an average rating of "Reduce" and a price target of $22.71.

Voya Investment Management LLC bought a new stake in shares of Equinor ASA (NYSE:EQNR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 281,985 shares of the company's stock, valued at approximately $7,459,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sound Income Strategies LLC lifted its position in Equinor ASA by 725.4% during the first 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. Montag A & Associates Inc. purchased a new position in shares of Equinor ASA in the first quarter valued at about $53,000. Wayfinding Financial LLC purchased a new position in shares of Equinor ASA in the first quarter valued at about $54,000. Headlands Technologies LLC purchased a new position in shares of Equinor ASA in the first quarter valued at about $57,000. Finally, Bruce G. Allen Investments LLC lifted its position in shares of Equinor ASA by 34.1% in the first quarter. Bruce G. Allen Investments LLC now owns 2,188 shares of the company's stock valued at $58,000 after acquiring an additional 556 shares in the last quarter. 5.51% of the stock is currently owned by hedge funds and other institutional investors.

Equinor ASA Price Performance

Shares of NYSE:EQNR traded down $0.42 during mid-day trading on Friday, reaching $24.15. The stock had a trading volume of 4,108,862 shares, compared to its average volume of 3,365,630. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.58. The company has a market cap of $71.12 billion, a P/E ratio of 8.02, a price-to-earnings-growth ratio of 0.83 and a beta of 0.57. Equinor ASA has a 1 year low of $21.41 and a 1 year high of $28.26. The business's 50 day moving average price is $24.91 and its 200 day moving average price is $24.64.

Equinor ASA (NYSE:EQNR - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.02). The firm had revenue of $25.12 billion during the quarter, compared to analysts' expectations of $23.88 billion. Equinor ASA had a return on equity of 16.91% and a net margin of 7.60%. Research analysts expect that Equinor ASA will post 3.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EQNR shares. Pareto Securities downgraded Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. downgraded Equinor ASA from a "neutral" rating to an "underweight" rating in a research report on Tuesday, August 12th. Hsbc Global Res downgraded Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Morgan Stanley downgraded Equinor ASA from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, September 3rd. Finally, UBS Group downgraded Equinor ASA from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $22.71.

About Equinor ASA

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.