Fiduciary Financial Group LLC Invests $306,000 in Equinor ASA $EQNR

Key Points

• Fiduciary Financial Group LLC has invested approximately $306,000 to acquire a new stake in Equinor ASA, purchasing 12,128 shares during the second quarter.
• Analysts have downgraded Equinor ASA's stock, with ratings falling from "buy" to "hold" and from "neutral" to "underweight," reflecting concerns about future performance.
• The company reported a net margin of 7.60% and a revenue of $25.12 billion for the last quarter, exceeding analyst estimates despite missing earnings per share expectations.

Fiduciary Financial Group LLC purchased a new stake in Equinor ASA (NYSE:EQNR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,128 shares of the company's stock, valued at approximately $306,000.

Several other hedge funds have also recently bought and sold shares of EQNR. Sequoia Financial Advisors LLC acquired a new stake in shares of Equinor ASA in the 1st quarter valued at $205,000. Sarasin & Partners LLP boosted its position in 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. CWA Asset Management Group LLC boosted its position in 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. Cetera Investment Advisers grew its stake in Equinor ASA by 15.7% during the first quarter. Cetera Investment Advisers now owns 83,272 shares of the company's stock worth $2,203,000 after buying an additional 11,290 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Equinor ASA during the first quarter worth approximately $529,000. 5.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on EQNR. Morgan Stanley downgraded Equinor ASA from an "equal weight" rating to an "underweight" rating in a report on Wednesday, September 3rd. JPMorgan Chase & Co. cut Equinor ASA from a "neutral" rating to an "underweight" rating in a report on Tuesday, August 12th. Hsbc Global Res cut shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Berenberg Bank cut shares of Equinor ASA from a "buy" rating to a "hold" rating and set a $26.44 price objective for the company. in a research report on Tuesday, May 20th. Finally, Barclays downgraded Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $22.71.

Equinor ASA Price Performance

Shares of EQNR stock opened at $24.26 on Friday. The firm's 50 day moving average price is $25.10 and its two-hundred day moving average price is $24.57. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.37 and a current ratio of 1.47. Equinor ASA has a 52-week low of $21.41 and a 52-week high of $28.26. The stock has a market cap of $71.42 billion, a PE ratio of 8.06, a PEG ratio of 0.83 and a beta of 0.57.

Equinor ASA (NYSE:EQNR - Get Free Report) last posted its quarterly 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). Equinor ASA had a net margin of 7.60% and a return on equity of 16.91%. The company had revenue of $25.12 billion during the quarter, compared to analyst estimates of $23.88 billion. As a group, analysts forecast that Equinor ASA will post 3.46 EPS for the current year.

Equinor ASA 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.