Equinor ASA (NYSE:EQNR) Stock Holdings Lessened by Folketrygdfondet

Folketrygdfondet decreased its holdings in Equinor ASA (NYSE:EQNR - Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,948,331 shares of the company's stock after selling 1,517,748 shares during the period. Equinor ASA comprises about 64.8% of Folketrygdfondet's investment portfolio, making the stock its biggest holding. Folketrygdfondet owned 3.94% of Equinor ASA worth $2,908,133,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of EQNR. Sound Income Strategies LLC lifted its holdings in Equinor ASA by 725.4% in the first quarter. Sound Income Strategies LLC now owns 974 shares of the company's stock valued at $26,000 after acquiring an additional 856 shares during the period. GeoWealth Management LLC increased its position in shares of Equinor ASA by 254.5% during the 4th quarter. GeoWealth Management LLC now owns 1,372 shares of the company's stock valued at $33,000 after purchasing an additional 985 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Equinor ASA in the 1st quarter worth approximately $54,000. Bruce G. Allen Investments LLC boosted its holdings in shares of Equinor ASA by 34.1% in the first quarter. Bruce G. Allen Investments LLC now owns 2,188 shares of the company's stock worth $58,000 after buying an additional 556 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in Equinor ASA by 1,009.8% during the fourth quarter. Bessemer Group Inc. now owns 2,497 shares of the company's stock valued at $60,000 after buying an additional 2,272 shares during the period. Hedge funds and other institutional investors own 5.51% of the company's stock.

Equinor ASA Price Performance

EQNR stock traded down $0.62 during midday trading on Tuesday, hitting $25.76. The company's stock had a trading volume of 2,700,434 shares, compared to its average volume of 3,818,602. The firm has a market capitalization of $71.93 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 0.68 and a beta of 0.58. The company has a quick ratio of 1.27, a current ratio of 1.37 and a debt-to-equity ratio of 0.50. Equinor ASA has a 12 month low of $21.41 and a 12 month high of $28.29. The company has a 50 day moving average of $24.99 and a two-hundred day moving average of $24.32.

Equinor ASA (NYSE:EQNR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.17). The company had revenue of $27.14 billion for the quarter, compared to analysts' expectations of $27.16 billion. Equinor ASA had a net margin of 8.07% and a return on equity of 18.44%. On average, analysts expect that Equinor ASA will post 3.46 EPS for the current year.

Analysts Set New Price Targets

EQNR has been the topic of several analyst reports. UBS Group cut shares of Equinor ASA from a "neutral" rating to a "sell" rating in a research note on Tuesday, July 1st. Barclays downgraded Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Morgan Stanley cut Equinor ASA from an "overweight" rating to an "equal weight" rating and set a $22.70 price target for the company. in a research report on Monday, May 12th. Redburn Atlantic cut Equinor ASA from a "buy" rating to a "sell" rating in a research report on Wednesday, April 23rd. Finally, Berenberg Bank lowered shares of Equinor ASA from a "buy" rating to a "hold" rating and set a $26.44 target price for the company. in a report on Tuesday, May 20th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus 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.