Equinor ASA $EQNR Stock: Euro Pacific Asset Management LLC Raises Holdings

Key Points

• Euro Pacific Asset Management increased its Equinor stake by 33.2% in the third quarter, adding 103,120 shares to reach 413,946 shares valued at $17.21 million.
• Equinor reported quarterly earnings of $1.20 per share, below the $1.38 consensus estimate, while revenue of $32.96 billion also missed expectations.
• Analyst sentiment is mixed, with the stock holding a consensus “Hold” rating and an average price target of $43.47; three analysts rate it Buy and three rate it Sell.

Euro Pacific Asset Management LLC lifted its position in shares of Equinor ASA (NYSE:EQNR - Free Report) by 33.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 413,946 shares of the company's stock after acquiring an additional 103,120 shares during the quarter. Equinor ASA accounts for approximately 1.2% of Euro Pacific Asset Management LLC's investment portfolio, making the stock its 22nd biggest holding. Euro Pacific Asset Management LLC's holdings in Equinor ASA were worth $17,210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cassaday & Co Wealth Management LLC purchased a new position in Equinor ASA during the first quarter worth approximately $35,000. Eastern Bank acquired a new stake in Equinor ASA in the second quarter valued at approximately $35,000. Financial Network Wealth Advisors LLC grew its holdings in Equinor ASA by 93.1% in the third quarter. Financial Network Wealth Advisors LLC now owns 840 shares of the company's stock valued at $35,000 after purchasing an additional 405 shares during the period. Assetmark Inc. grew its holdings in Equinor ASA by 130.2% in the first quarter. Assetmark Inc. now owns 1,036 shares of the company's stock valued at $44,000 after purchasing an additional 586 shares during the period. Finally, Arlington Trust Co LLC increased its position in shares of Equinor ASA by 1,581.9% in the second quarter. Arlington Trust Co LLC now owns 2,136 shares of the company's stock valued at $67,000 after buying an additional 2,009 shares in the last quarter. Hedge funds and other institutional investors own 5.51% of the company's stock.

Equinor ASA Trading Down 0.0%

EQNR stock opened at $41.98 on Monday. Equinor ASA has a 12-month low of $22.26 and a 12-month high of $49.08. The business's 50-day moving average is $44.21 and its 200 day moving average is $37.90. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53. The stock has a market cap of $100.38 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 1.17 and a beta of 0.12.

Equinor ASA (NYSE:EQNR - Get Free Report) last announced its earnings results on Tuesday, October 27th. The company reported $1.20 EPS for the quarter, missing analysts' consensus estimates of $1.38 by ($0.18). The firm had revenue of $32.96 billion for the quarter, compared to analyst estimates of $33.30 billion. Equinor ASA had a net margin of 9.71% and a return on equity of 27.45%. On average, sell-side analysts anticipate that Equinor ASA will post 5.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morningstar downgraded Equinor ASA to a "sell" rating in a research note on Thursday, July 23rd. SEB Equity Research reissued a "sell" rating on shares of Equinor ASA in a research note on Friday, October 2nd. Weiss Ratings reissued a "buy (b)" rating on shares of Equinor ASA in a research note on Wednesday, October 21st. Morgan Stanley lowered shares of Equinor ASA from an "equal weight" rating to an "underweight" rating in a report on Friday. Finally, DZ Bank cut shares of Equinor ASA from a "buy" rating to a "hold" rating in a research report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $43.47.

Equinor ASA Company Profile

Equinor ASA is a Norwegian energy company headquartered in Stavanger. Founded in 1972 as the state-owned Den Norske Stats Oljeselskap, it later operated as Statoil before adopting the Equinor name in 2018. The Norwegian state remains its majority owner.

The company's core business is the exploration, development, and production of oil and natural gas, with a substantial focus on the Norwegian Continental Shelf. Equinor also markets and trades energy products and operates across international markets, including in Europe and North America.

Alongside its oil and gas activities, Equinor develops renewable energy projects, particularly offshore wind, and pursues lower-carbon energy solutions.

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