John G Ullman & Associates Inc. Acquires 61,559 Shares of Equinor ASA (NYSE:EQNR)

Key Points

• John G Ullman & Associates Inc. increased its stake in Equinor ASA by 580.7%, acquiring an additional 61,559 shares, bringing their total holdings to 72,159 shares valued at approximately $1.91 million.
• Equinor ASA's shares traded down 1.2% to $25.37, with a market cap of $70.84 billion, a P/E ratio of 8.43, and the stock has a 12-month range from $21.41 to $28.29.
• Recent analyst reports have led to several downgrades for Equinor ASA, with a consensus price target now set at $22.71 and a mixed rating from research analysts.

John G Ullman & Associates Inc. grew its holdings in shares of Equinor ASA (NYSE:EQNR - Free Report) by 580.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,159 shares of the company's stock after purchasing an additional 61,559 shares during the quarter. John G Ullman & Associates Inc.'s holdings in Equinor ASA were worth $1,909,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its holdings in Equinor ASA by 10.7% in the 4th quarter. Wellington Management Group LLP now owns 4,151,104 shares of the company's stock worth $98,340,000 after acquiring an additional 399,861 shares during the period. Bank of America Corp DE raised its holdings in Equinor ASA by 4.8% in the 4th quarter. Bank of America Corp DE now owns 4,121,392 shares of the company's stock worth $97,636,000 after acquiring an additional 188,709 shares during the period. Marshall Wace LLP raised its holdings in Equinor ASA by 3,159.0% in the 4th quarter. Marshall Wace LLP now owns 2,649,389 shares of the company's stock worth $62,764,000 after acquiring an additional 2,568,095 shares during the period. Voloridge Investment Management LLC raised its holdings in Equinor ASA by 958.7% in the 4th quarter. Voloridge Investment Management LLC now owns 1,447,536 shares of the company's stock worth $34,292,000 after acquiring an additional 1,310,812 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its holdings in Equinor ASA by 771.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,015,657 shares of the company's stock worth $24,061,000 after acquiring an additional 899,157 shares during the period. Institutional investors own 5.51% of the company's stock.

Wall Street Analyst Weigh In

EQNR has been the topic of several research analyst reports. JPMorgan Chase & Co. restated a "neutral" rating on shares of Equinor ASA in a research report on Wednesday, May 7th. Berenberg Bank lowered shares of Equinor ASA from a "buy" rating to a "hold" rating and set a $26.44 price target on the stock. in a research report on Tuesday, May 20th. Royal Bank Of Canada lowered shares of Equinor ASA from a "sector perform" rating to an "underperform" rating in a research report on Tuesday, April 22nd. Barclays lowered shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, TD Cowen decreased their price target on shares of Equinor ASA from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Equinor ASA has an average rating of "Hold" and a consensus target price of $22.71.

Equinor ASA Price Performance

Shares of NYSE EQNR traded up $0.73 during trading on Monday, reaching $26.09. The company had a trading volume of 2,055,869 shares, compared to its average volume of 4,153,358. Equinor ASA has a 52 week low of $21.41 and a 52 week high of $28.29. The stock has a market cap of $76.81 billion, a PE ratio of 8.67, a PEG ratio of 0.84 and a beta of 0.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.37 and a current ratio of 1.47. The business's 50 day moving average price is $25.43 and its 200-day moving average price is $24.39.

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 return on equity of 16.91% and a net margin of 7.60%. The business had revenue of $25.12 billion for the quarter, compared to the consensus estimate of $23.88 billion. Analysts expect that Equinor ASA will post 3.46 earnings per share for the current year.

Equinor ASA Company 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.