Fortis Capital Advisors LLC Buys New Shares in Equinor ASA $EQNR

Key Points

• Fortis Capital Advisors LLC acquired a new stake in Equinor ASA, purchasing 19,999 shares valued at approximately $503,000 during the second quarter.
• Equinor ASA's stock opened at $24.75 and has a market capitalization of $72.87 billion, with a P/E ratio of 8.22.
• Analysts show a generally negative sentiment towards Equinor ASA, with several lowering their ratings, leading to a consensus rating of "Reduce" among analysts.

Fortis Capital Advisors LLC bought a new stake in Equinor ASA (NYSE:EQNR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,999 shares of the company's stock, valued at approximately $503,000.

Other institutional investors have also added to or reduced their stakes in the company. Jump Financial LLC bought a new position in Equinor ASA in the first quarter valued at $2,178,000. Sequoia Financial Advisors LLC bought a new position in Equinor ASA in the first quarter valued at $205,000. Goldman Sachs Group Inc. boosted its position in Equinor ASA by 17.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,804,534 shares of the company's stock valued at $100,630,000 after buying an additional 572,193 shares during the period. CWA Asset Management Group LLC boosted its position in Equinor ASA by 30.1% during 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 during the period. Finally, Cetera Investment Advisers boosted its position in Equinor ASA by 15.7% during the first quarter. Cetera Investment Advisers now owns 83,272 shares of the company's stock valued at $2,203,000 after buying an additional 11,290 shares during the period. Institutional investors own 5.51% of the company's stock.

Equinor ASA Stock Performance

Equinor ASA stock opened at $24.75 on Friday. 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 firm has a 50-day moving average of $24.74 and a 200-day moving average of $24.69. The firm has a market cap of $72.87 billion, a P/E ratio of 8.22, a P/E/G ratio of 0.90 and a beta of 0.52. Equinor ASA has a 1-year low of $21.41 and a 1-year high of $28.26.

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 firm had revenue of $25.12 billion for the quarter, compared to analysts' expectations of $23.88 billion. Equinor ASA had a return on equity of 16.91% and a net margin of 7.60%. Sell-side analysts expect that Equinor ASA will post 3.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. UBS Group lowered shares of Equinor ASA from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 1st. Morgan Stanley lowered shares of Equinor ASA from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. lowered shares of Equinor ASA from a "neutral" rating to an "underweight" rating in a research report on Tuesday, August 12th. Pareto Securities lowered shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Equinor ASA in a research report on Saturday, September 27th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have given a Sell rating to the company. According to MarketBeat.com, Equinor ASA currently has a consensus rating of "Reduce" and an average price target of $22.71.

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.

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