Logan Capital Management Inc. Grows Position 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. grew its stake in Equinor ASA (NYSE:EQNR - Free Report) by 28.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sound Income Strategies LLC boosted its position in Equinor ASA by 725.4% in the 1st quarter. Sound Income Strategies LLC now owns 974 shares of the company's stock worth $26,000 after purchasing an additional 856 shares in the last quarter. Montag A & Associates Inc. purchased a new stake in Equinor ASA in the 1st quarter worth approximately $53,000. Wayfinding Financial LLC purchased a new stake in Equinor ASA in the 1st quarter worth approximately $54,000. Headlands Technologies LLC purchased a new stake in Equinor ASA in the 1st quarter worth approximately $57,000. Finally, Bruce G. Allen Investments LLC boosted its position in Equinor ASA by 34.1% in 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 in the last quarter. Hedge funds and other institutional investors own 5.51% of the company's stock.

Equinor ASA Stock Down 0.2%

Shares of EQNR opened at $24.24 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.37 and a current ratio of 1.47. Equinor ASA has a one year low of $21.41 and a one year high of $28.26. The stock has a market capitalization of $71.38 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 0.83 and a beta of 0.57. The stock has a 50 day moving average price of $25.17 and a 200 day moving average price of $24.54.

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 the consensus estimate 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 analysts' expectations of $23.88 billion. Equities research analysts forecast that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Hsbc Global Res cut Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. cut Equinor ASA from a "neutral" rating to an "underweight" rating in a research report on Tuesday, August 12th. UBS Group cut shares of Equinor ASA from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 1st. Berenberg Bank cut shares of Equinor ASA from a "buy" rating to a "hold" rating and set a $26.44 price objective for the company. in a research report on Tuesday, May 20th. Finally, Barclays cut shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat.com, Equinor ASA has an average rating of "Reduce" and an average price target of $22.71.

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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