Todd Asset Management LLC Has $892,000 Position in Equinor ASA (NYSE:EQNR)

Key Points

• Todd Asset Management LLC reduced its stake in Equinor ASA by 81.1% in the first quarter, holding 33,708 shares worth $892,000 after selling 144,724 shares.
• Wall Street analysts have revised their ratings on Equinor ASA, with Hsbc Global Research downgrading it from "strong-buy" to "hold," while TD Cowen and Berenberg Bank have also lowered their price targets.
• Equinor ASA reported $0.64 earnings per share, missing expectations, but had a revenue of $25.12 billion, surpassing analysts' predictions of $23.88 billion for the quarter.

Todd Asset Management LLC reduced its stake in shares of Equinor ASA (NYSE:EQNR - Free Report) by 81.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,708 shares of the company's stock after selling 144,724 shares during the quarter. Todd Asset Management LLC's holdings in Equinor ASA were worth $892,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of EQNR. Bank of America Corp DE boosted its stake in shares of Equinor ASA by 4.8% in the 4th quarter. Bank of America Corp DE now owns 4,121,392 shares of the company's stock valued at $97,636,000 after purchasing an additional 188,709 shares during the last quarter. Marshall Wace LLP boosted its stake in Equinor ASA by 3,159.0% in the fourth quarter. Marshall Wace LLP now owns 2,649,389 shares of the company's stock valued at $62,764,000 after acquiring an additional 2,568,095 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in Equinor ASA by 958.7% in the fourth quarter. Voloridge Investment Management LLC now owns 1,447,536 shares of the company's stock valued at $34,292,000 after acquiring an additional 1,310,812 shares during the last quarter. Citigroup Inc. boosted its position in shares of Equinor ASA by 8,986.2% in the 1st quarter. Citigroup Inc. now owns 1,260,071 shares of the company's stock worth $33,329,000 after purchasing an additional 1,246,203 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Equinor ASA by 771.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,015,657 shares of the company's stock worth $24,061,000 after purchasing an additional 899,157 shares during the last quarter. 5.51% of the stock is owned by institutional investors.

Equinor ASA Stock Down 0.3%

Shares of NYSE:EQNR traded down $0.08 during midday trading on Thursday, reaching $24.52. 2,570,237 shares of the company were exchanged, compared to its average volume of 4,179,762. Equinor ASA has a fifty-two week low of $21.41 and a fifty-two week 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 fifty day simple moving average of $25.78 and a two-hundred day simple moving average of $24.42. The firm has a market cap of $72.19 billion, a PE 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 released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). Equinor ASA had a net margin of 7.60% and a return on equity of 16.91%. The firm had revenue of $25.12 billion during the quarter, compared to analyst estimates of $23.88 billion. As a group, sell-side analysts forecast that Equinor ASA will post 3.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EQNR has been the topic of several recent research reports. TD Cowen reduced their price target on Equinor ASA from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Friday, May 2nd. Barclays lowered shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Hsbc Global Res downgraded shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Kepler Capital Markets lowered shares of Equinor ASA from a "hold" rating to a "reduce" rating in a report on Tuesday, May 20th. Finally, UBS Group lowered shares of Equinor ASA from a "neutral" rating to a "sell" rating in a report on Tuesday, July 1st. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Equinor ASA presently has an average rating of "Hold" and a consensus target price 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.