Aigen Investment Management LP Acquires Shares of 60,934 Equinor ASA (NYSE:EQNR)

Key Points

• Aigen Investment Management LP has purchased a new stake of 60,934 shares in Equinor ASA, valued at approximately $1,612,000 during the first quarter.
• Several hedge funds have significantly increased their positions in Equinor ASA, with Sound Income Strategies LLC boosting its stake by 725.4% in the same quarter.
• Equinor ASA reported $0.64 earnings per share for the last quarter, missing estimates, while its current consensus price target is $22.71 with an average rating of "Hold."

Aigen Investment Management LP bought a new stake in shares of Equinor ASA (NYSE:EQNR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 60,934 shares of the company's stock, valued at approximately $1,612,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC purchased a new position in shares of Equinor ASA in the fourth quarter worth approximately $1,120,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Equinor ASA in the 1st quarter valued at approximately $205,000. Sarasin & Partners LLP boosted its stake in Equinor ASA by 35.0% in the 1st quarter. Sarasin & Partners LLP now owns 547,576 shares of the company's stock worth $13,870,000 after purchasing an additional 141,949 shares during the period. Raymond James Financial Inc. purchased a new position in Equinor ASA during the 4th quarter worth approximately $909,000. Finally, CWA Asset Management Group LLC grew its position in Equinor ASA by 30.1% during the 1st quarter. CWA Asset Management Group LLC now owns 68,791 shares of the company's stock worth $1,820,000 after purchasing an additional 15,910 shares in the last quarter. Institutional investors and hedge funds own 5.51% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on EQNR shares. UBS Group lowered Equinor ASA from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 1st. Pareto Securities cut shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. TD Cowen cut their target price on shares of Equinor ASA from $22.00 to $19.00 and set a "hold" rating for the company in a research report on Friday, May 2nd. Morgan Stanley cut shares of Equinor ASA from an "overweight" rating to an "equal weight" rating and set a $22.70 price target on the stock. in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. cut Equinor ASA from a "neutral" rating to an "underweight" rating in a research report on Tuesday. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $22.71.

Equinor ASA Stock Down 0.3%

Shares of NYSE:EQNR traded down $0.08 on Thursday, reaching $24.52. The company had a trading volume of 2,570,237 shares, compared to its average volume of 4,179,762. The stock has a 50-day moving average price of $25.78 and a 200 day moving average price of $24.42. Equinor ASA has a twelve month low of $21.41 and a twelve month high of $28.26. The company has a quick ratio of 1.37, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $72.19 billion, a P/E ratio of 8.14, a P/E/G ratio of 0.83 and a beta of 0.59.

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

Equinor ASA 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.