New York State Common Retirement Fund Takes $1.66 Million Position in Equinor ASA (NYSE:EQNR)

New York State Common Retirement Fund purchased a new stake in shares of Equinor ASA (NYSE:EQNR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,700 shares of the company's stock, valued at approximately $1,658,000.

Several other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP boosted its stake in Equinor ASA by 10.7% in the fourth quarter. Wellington Management Group LLP now owns 4,151,104 shares of the company's stock valued at $98,340,000 after acquiring an additional 399,861 shares during the last quarter. Bank of America Corp DE raised its holdings in Equinor ASA by 4.8% in the fourth quarter. Bank of America Corp DE now owns 4,121,392 shares of the company's stock worth $97,636,000 after purchasing an additional 188,709 shares during the period. Marshall Wace LLP raised its holdings in Equinor ASA by 3,159.0% in the fourth quarter. Marshall Wace LLP now owns 2,649,389 shares of the company's stock worth $62,764,000 after purchasing an additional 2,568,095 shares during the period. Voloridge Investment Management LLC raised its holdings in Equinor ASA by 958.7% in the fourth quarter. Voloridge Investment Management LLC now owns 1,447,536 shares of the company's stock worth $34,292,000 after purchasing an additional 1,310,812 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its holdings in Equinor ASA by 771.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,015,657 shares of the company's stock worth $24,061,000 after purchasing an additional 899,157 shares during the period. 5.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Barclays lowered shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. UBS Group lowered shares of Equinor ASA from a "neutral" rating to a "sell" rating in a report on Tuesday, July 1st. TD Cowen dropped their price objective on shares of Equinor ASA from $22.00 to $19.00 and set a "hold" rating on the stock in a report on Friday, May 2nd. JPMorgan Chase & Co. restated a "neutral" rating on shares of Equinor ASA in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada lowered shares of Equinor ASA from a "sector perform" rating to an "underperform" rating in a report on Tuesday, April 22nd. Five analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Equinor ASA presently has a consensus rating of "Hold" and a consensus price target of $22.71.

Equinor ASA Stock Down 1.2%

EQNR stock traded down $0.32 during midday trading on Friday, hitting $25.37. The company's stock had a trading volume of 3,282,745 shares, compared to its average volume of 3,478,225. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.27. Equinor ASA has a twelve month low of $21.41 and a twelve month high of $28.29. The company's fifty day moving average price is $25.43 and its 200 day moving average price is $24.39. The stock has a market capitalization of $70.84 billion, a P/E ratio of 8.43, a PEG ratio of 0.72 and a beta of 0.58.

Equinor ASA (NYSE:EQNR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). Equinor ASA had a net margin of 7.60% and a return on equity of 16.91%. The business had revenue of $25.12 billion during the quarter, compared to analyst estimates of $23.88 billion. As a group, equities research analysts predict that Equinor ASA will post 3.46 EPS 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.