Logan Capital Management Inc. Raises Holdings in Equinor ASA $EQNR

Key Points

• Logan Capital Management Inc. increased its stake in Equinor ASA by 28.6% during the 1st quarter, reaching a total of 147,849 shares valued at approximately $3.91 million.
• Equinor ASA's stock has seen a 0.2% decline recently, trading at around $24.24 with a market capitalization of $71.38 billion.
• According to analysts, Equinor ASA has received mixed ratings, with the average rating being "Reduce" and an average price target of $22.71.

Logan Capital Management Inc. raised its stake in shares of Equinor ASA (NYSE:EQNR - Free Report) by 28.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,849 shares of the company's stock after purchasing an additional 32,843 shares during the period. Logan Capital Management Inc.'s holdings in Equinor ASA were worth $3,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC purchased a new stake in Equinor ASA during the first quarter valued at approximately $205,000. Sarasin & Partners LLP raised its position in Equinor ASA by 35.0% during the first quarter. Sarasin & Partners LLP now owns 547,576 shares of the company's stock valued at $13,870,000 after purchasing an additional 141,949 shares during the period. CWA Asset Management Group LLC raised its holdings in shares of Equinor ASA by 30.1% in the first quarter. CWA Asset Management Group LLC now owns 68,791 shares of the company's stock worth $1,820,000 after buying an additional 15,910 shares during the period. Cetera Investment Advisers raised its holdings in shares of Equinor ASA by 15.7% in the first quarter. Cetera Investment Advisers now owns 83,272 shares of the company's stock worth $2,203,000 after buying an additional 11,290 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Equinor ASA in the first quarter worth approximately $529,000. 5.51% of the stock is currently owned by hedge funds and other institutional investors.

Equinor ASA Stock Performance

EQNR traded down $0.02 on Monday, reaching $24.26. 638,710 shares of the stock were exchanged, compared to its average volume of 4,072,717. The company's 50-day moving average price is $25.10 and its 200 day moving average price is $24.58. Equinor ASA has a fifty-two week low of $21.41 and a fifty-two week high of $28.26. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.37. The firm has a market capitalization of $71.42 billion, a PE ratio of 8.05, a PEG ratio of 0.83 and a beta of 0.57.

Equinor ASA (NYSE:EQNR - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $25.12 billion for the quarter, compared to analyst estimates of $23.88 billion. As a group, sell-side analysts forecast that Equinor ASA will post 3.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EQNR has been the topic of several recent analyst reports. Hsbc Global Res downgraded Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Pareto Securities downgraded Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Barclays downgraded Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Berenberg Bank downgraded Equinor ASA from a "buy" rating to a "hold" rating and set a $26.44 price objective on the stock. in a report on Tuesday, May 20th. Finally, UBS Group downgraded Equinor ASA from a "neutral" rating to a "sell" rating in a report on Tuesday, July 1st. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $22.71.

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.