Eagle Global Advisors LLC Buys 15,000 Shares of Equinor ASA (NYSE:EQNR)

Key Points

• Eagle Global Advisors LLC increased its stake in Equinor ASA by 11.7% during the first quarter, acquiring an additional 15,000 shares to bring its total to 143,000 shares valued at approximately $3.78 million.
• Several analysts have downgraded their ratings on Equinor ASA shares, with Morgan Stanley changing its rating from "overweight" to "equal weight" and setting a price target of $22.70.
• Equinor ASA reported earnings of $0.64 per share for the last quarter, slightly missing analysts' expectations, although its revenue of $25.12 billion surpassed estimates of $23.88 billion.

Eagle Global Advisors LLC increased its holdings in Equinor ASA (NYSE:EQNR - Free Report) by 11.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,000 shares of the company's stock after acquiring an additional 15,000 shares during the period. Eagle Global Advisors LLC's holdings in Equinor ASA were worth $3,782,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mission Wealth Management LP boosted its position in shares of Equinor ASA by 4.5% during the first 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. Atlas Capital Advisors Inc. boosted its position in shares of Equinor ASA by 10.9% during the first quarter. Atlas Capital Advisors Inc. now owns 5,618 shares of the company's stock valued at $149,000 after purchasing an additional 553 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in shares of Equinor ASA by 34.1% during the first quarter. Bruce G. Allen Investments LLC now owns 2,188 shares of the company's stock valued at $58,000 after purchasing an additional 556 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Equinor ASA by 9.7% during the first quarter. Farther Finance Advisors LLC now owns 6,769 shares of the company's stock valued at $182,000 after purchasing an additional 596 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake 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 buying an additional 629 shares during the last quarter. 5.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Berenberg Bank downgraded Equinor ASA from a "buy" rating to a "hold" rating and set a $26.44 target price on the stock. in a report on Tuesday, May 20th. Kepler Capital Markets downgraded Equinor ASA from a "hold" rating to a "reduce" rating in a report on Tuesday, May 20th. Barclays downgraded Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Redburn Atlantic lowered Equinor ASA from a "buy" rating to a "sell" rating in a report on Wednesday, April 23rd. Finally, TD Cowen reduced their target price on Equinor ASA from $22.00 to $19.00 and set a "hold" rating for the company in a report on Friday, May 2nd. Six analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $22.71.

Equinor ASA Stock Performance

Shares of NYSE EQNR traded down $0.08 during midday trading on Thursday, hitting $24.52. 2,570,237 shares of the stock traded hands, compared to its average volume of 4,179,762. Equinor ASA has a one year low of $21.41 and a one year high of $28.26. The firm has a 50-day moving average of $25.78 and a two-hundred day moving average of $24.42. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.37 and a current ratio of 1.47. The firm has a market capitalization of $72.19 billion, a P/E ratio of 8.14, a PEG ratio of 0.83 and a beta of 0.59.

Equinor ASA (NYSE:EQNR - Get Free Report) last issued its quarterly earnings data 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 net margin of 7.60% and a return on equity of 16.91%. The business had revenue of $25.12 billion for the quarter, compared to the consensus estimate of $23.88 billion. On average, equities analysts forecast that Equinor ASA will post 3.46 EPS for the current fiscal 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.