FORA Capital LLC Takes Position in Equinor ASA $EQNR

Key Points

• FORA Capital LLC has acquired a new stake in Equinor ASA valued at approximately $345,000, purchasing 13,031 shares in the first quarter.
• Other significant hedge funds, such as Citigroup Inc. and Voloridge Investment Management LLC, have drastically increased their positions in Equinor ASA, with Citigroup's stake growing by 8,986.2%.
• Equinor ASA's stock has faced downgrades from multiple research analysts, with the average target price now set at $22.71 and a mix of buy, hold, and sell ratings.

FORA Capital LLC purchased a new stake in Equinor ASA (NYSE:EQNR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,031 shares of the company's stock, valued at approximately $345,000.

Several other institutional investors have also recently added to or reduced their stakes in EQNR. Mission Wealth Management LP increased its position in Equinor ASA by 4.5% during the 1st quarter. Mission Wealth Management LP now owns 12,236 shares of the company's stock worth $324,000 after purchasing an additional 522 shares during the period. Atlas Capital Advisors Inc. increased its position in Equinor ASA by 10.9% during the 1st quarter. Atlas Capital Advisors Inc. now owns 5,618 shares of the company's stock worth $149,000 after purchasing an additional 553 shares during the period. Bruce G. Allen Investments LLC increased its position in Equinor ASA by 34.1% during the 1st quarter. Bruce G. Allen Investments LLC now owns 2,188 shares of the company's stock worth $58,000 after purchasing an additional 556 shares during the period. Farther Finance Advisors LLC increased its position in Equinor ASA by 9.7% during the 1st quarter. Farther Finance Advisors LLC now owns 6,769 shares of the company's stock worth $182,000 after purchasing an additional 596 shares during the period. Finally, GAMMA Investing LLC increased its position in Equinor ASA by 36.4% during the 1st quarter. GAMMA Investing LLC now owns 2,355 shares of the company's stock worth $62,000 after purchasing an additional 629 shares during the period. Institutional investors and hedge funds own 5.51% of the company's stock.

Wall Street Analyst Weigh In

EQNR has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut Equinor ASA from a "neutral" rating to an "underweight" rating in a research report on Tuesday, August 12th. Barclays cut Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Kepler Capital Markets cut Equinor ASA from a "hold" rating to a "reduce" rating in a report on Tuesday, May 20th. Hsbc Global Res cut Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Finally, Morgan Stanley cut Equinor ASA from an "overweight" rating to an "equal weight" rating and set a $22.70 price target on the stock. in a report on Monday, May 12th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six 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 an average price target of $22.71.

Equinor ASA Trading Up 0.6%

Shares of NYSE EQNR traded up $0.14 during midday trading on Friday, reaching $24.63. 2,253,828 shares of the stock were exchanged, compared to its average volume of 3,666,862. The stock has a 50 day moving average price of $25.33 and a 200-day moving average price of $24.49. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $72.51 billion, a P/E ratio of 8.18, a P/E/G ratio of 0.84 and a beta of 0.57. Equinor ASA has a 52-week low of $21.41 and a 52-week high of $28.26.

Equinor ASA (NYSE:EQNR - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.02). The firm 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%. Equities research analysts expect that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

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.