Foster & Motley Inc. Purchases 54,253 Shares of Equinor ASA $EQNR

Key Points

• Foster & Motley Inc. significantly increased its stake in Equinor ASA by 712.2%, acquiring an additional 54,253 shares, bringing their total holdings to 61,871 shares valued at approximately $1,555,000.
• Institutional investments in Equinor ASA have surged, with Citigroup Inc. increasing its holdings by 8,986.2%, and other firms like Goldman Sachs and Quantbot also making considerable purchases.
• Equinor ASA has faced several downgrades from analysts, with ratings shifting from "strong-buy" to "sell," resulting in an average rating of "Reduce" and a consensus target price of $22.71.

Foster & Motley Inc. increased its position in shares of Equinor ASA (NYSE:EQNR - Free Report) by 712.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,871 shares of the company's stock after purchasing an additional 54,253 shares during the period. Foster & Motley Inc.'s holdings in Equinor ASA were worth $1,555,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EQNR. Citigroup Inc. raised its position in shares of Equinor ASA by 8,986.2% during the 1st quarter. Citigroup Inc. now owns 1,260,071 shares of the company's stock valued at $33,329,000 after purchasing an additional 1,246,203 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Equinor ASA by 17.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,804,534 shares of the company's stock valued at $100,630,000 after purchasing an additional 572,193 shares during the period. Voya Investment Management LLC bought a new stake in shares of Equinor ASA during the 1st quarter valued at $7,459,000. Quantbot Technologies LP raised its position in shares of Equinor ASA by 734.4% during the 1st quarter. Quantbot Technologies LP now owns 261,708 shares of the company's stock valued at $6,922,000 after purchasing an additional 230,344 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its position in shares of Equinor ASA by 329.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 237,424 shares of the company's stock valued at $6,280,000 after purchasing an additional 182,113 shares during the period. 5.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EQNR shares. Pareto Securities downgraded shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Sanford C. Bernstein downgraded shares of Equinor ASA from an "outperform" rating to a "market perform" rating in a report on Friday. DZ Bank downgraded shares of Equinor ASA from a "strong-buy" rating to a "strong sell" rating in a report on Wednesday, October 8th. Hsbc Global Res downgraded shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Finally, UBS Group downgraded shares of Equinor ASA from a "neutral" rating to a "sell" rating in a report on Tuesday, July 1st. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $22.71.

Equinor ASA Stock Performance

Shares of NYSE:EQNR opened at $23.12 on Friday. Equinor ASA has a 52 week low of $21.41 and a 52 week high of $28.26. The stock has a market capitalization of $68.08 billion, a P/E ratio of 7.68, a PEG ratio of 0.83 and a beta of 0.52. The firm has a fifty day simple moving average of $24.42 and a two-hundred day simple moving average of $24.53. The company has a quick ratio of 1.37, a current ratio of 1.47 and a debt-to-equity ratio of 0.58.

Equinor ASA (NYSE:EQNR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.02). Equinor ASA had a return on equity of 16.91% and a net margin of 7.60%.The business had revenue of $25.12 billion during the quarter, compared to analysts' expectations of $23.88 billion. On average, 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.

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