Cetera Investment Advisers Buys 11,290 Shares of Equinor ASA (NYSE:EQNR)

Key Points

• Cetera Investment Advisers increased its stake in Equinor ASA (NYSE:EQNR) by 15.7%, acquiring an additional 11,290 shares, bringing its total holdings to a value of $2.2 million.
• Equinor ASA’s stock recently experienced a 1.2% decline, trading at $24.50, while analysts have mixed ratings with a consensus of "Hold" and an average target price of $22.71.
• In recent quarterly earnings, Equinor ASA reported $0.64 EPS, missing the consensus estimate of $0.66, but exceeded revenue expectations with $25.12 billion.

Cetera Investment Advisers raised its stake in shares of Equinor ASA (NYSE:EQNR - Free Report) by 15.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,272 shares of the company's stock after acquiring an additional 11,290 shares during the quarter. Cetera Investment Advisers' holdings in Equinor ASA were worth $2,203,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC acquired a new stake in shares of Equinor ASA in the fourth quarter valued at $1,120,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Equinor ASA in the first quarter valued at $205,000. Sarasin & Partners LLP increased its stake in shares of Equinor ASA by 35.0% in the first quarter. Sarasin & Partners LLP now owns 547,576 shares of the company's stock valued at $13,870,000 after buying an additional 141,949 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Equinor ASA in the fourth quarter valued at $909,000. Finally, CWA Asset Management Group LLC increased its stake in shares of Equinor ASA by 30.1% in the first quarter. CWA Asset Management Group LLC now owns 68,791 shares of the company's stock valued at $1,820,000 after buying an additional 15,910 shares in the last quarter. 5.51% of the stock is owned by institutional investors.

Equinor ASA Stock Down 1.2%

Shares of NYSE:EQNR traded down $0.29 during trading on Friday, hitting $24.50. 5,632,877 shares of the company were exchanged, compared to its average volume of 4,265,759. The stock has a market cap of $72.15 billion, a price-to-earnings ratio of 8.14, a P/E/G ratio of 0.84 and a beta of 0.59. Equinor ASA has a fifty-two week low of $21.41 and a fifty-two week high of $28.29. The firm has a fifty day moving average price of $25.77 and a two-hundred day moving average price of $24.42. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.58.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on EQNR shares. Morgan Stanley lowered Equinor ASA from an "overweight" rating to an "equal weight" rating and set a $22.70 target price for the company. in a research note on Monday, May 12th. TD Cowen lowered their price objective on Equinor ASA from $22.00 to $19.00 and set a "hold" rating for the company in a research report on Friday, May 2nd. Hsbc Global Res lowered Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Barclays lowered Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Redburn Atlantic lowered Equinor ASA from a "buy" rating to a "sell" rating in a research report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $22.71.

About Equinor ASA

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.