Equinor ASA $EQNR Shares Purchased by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management increased its stake in Equinor ASA by 60.5%, now holding 292,069 shares worth approximately $7.34 million.
• Equinor ASA's stock has seen downgrades from several major analysts, with an average rating of "Reduce" and a consensus price target of $22.71.
• For the latest quarter, Equinor ASA reported $0.64 earnings per share, falling short of the estimated $0.66, despite revenue surpassing expectations with $25.12 billion.

Ritholtz Wealth Management raised its stake in Equinor ASA (NYSE:EQNR - Free Report) by 60.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,069 shares of the company's stock after purchasing an additional 110,134 shares during the period. Ritholtz Wealth Management's holdings in Equinor ASA were worth $7,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in EQNR. Sound Income Strategies LLC grew its holdings in Equinor ASA by 725.4% during the 1st quarter. Sound Income Strategies LLC now owns 974 shares of the company's stock worth $26,000 after acquiring an additional 856 shares in the last quarter. Montag A & Associates Inc. purchased a new stake in shares of Equinor ASA during the 1st quarter worth $53,000. Wayfinding Financial LLC acquired a new position in shares of Equinor ASA during the first quarter worth $54,000. Headlands Technologies LLC acquired a new position in shares of Equinor ASA during the first quarter worth $57,000. Finally, Assetmark Inc. increased its holdings in Equinor ASA by 7,586.7% in the first quarter. Assetmark Inc. now owns 2,306 shares of the company's stock valued at $61,000 after buying an additional 2,276 shares during the last quarter. 5.51% of the stock is owned by institutional investors and hedge funds.

Equinor ASA Trading Down 1.8%

EQNR opened at $23.10 on Wednesday. The firm has a market cap of $68.01 billion, a price-to-earnings ratio of 7.67, a price-to-earnings-growth ratio of 0.85 and a beta of 0.52. Equinor ASA has a 52 week low of $21.41 and a 52 week high of $28.26. The business's 50 day moving average is $24.52 and its two-hundred day moving average is $24.61. The company has a quick ratio of 1.37, a current ratio of 1.47 and a debt-to-equity ratio of 0.58.

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

Wall Street Analysts Forecast Growth

EQNR has been the subject of a number of recent analyst reports. UBS Group downgraded Equinor ASA from a "neutral" rating to a "sell" rating in a report on Tuesday, July 1st. Pareto Securities cut Equinor ASA from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. DZ Bank downgraded Equinor ASA from a "strong-buy" rating to a "strong sell" rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. lowered shares of Equinor ASA from a "neutral" rating to an "underweight" rating in a research note on Tuesday, August 12th. Finally, Morgan Stanley downgraded shares of Equinor ASA from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $22.71.

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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