Park Avenue Securities LLC Takes Position in Equinor ASA $EQNR

Key Points

• Park Avenue Securities LLC has acquired a new position in Equinor ASA, purchasing 13,155 shares valued at approximately $331,000 during the second quarter.
• Equinor ASA's stock has received multiple downgrades from analysts, with JPMorgan Chase downgrading it from "neutral" to "underweight" and a consensus rating of "Reduce" from various equity analysts.
• The company reported a quarterly earnings miss with $0.64 earnings per share, below the consensus estimate of $0.66, while revenues surpassed expectations at $25.12 billion.

Park Avenue Securities LLC purchased a new stake in shares of Equinor ASA (NYSE:EQNR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,155 shares of the company's stock, valued at approximately $331,000.

Several other institutional investors have also recently added to or reduced their stakes in EQNR. Sound Income Strategies LLC lifted its holdings in Equinor ASA by 725.4% during the 1st quarter. Sound Income Strategies LLC now owns 974 shares of the company's stock valued at $26,000 after purchasing an additional 856 shares during the last quarter. Montag A & Associates Inc. bought a new position in Equinor ASA during the 1st quarter valued at about $53,000. Wayfinding Financial LLC bought a new position in Equinor ASA during the 1st quarter valued at about $54,000. Headlands Technologies LLC bought a new position in Equinor ASA during the 1st quarter valued at about $57,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in Equinor ASA by 34.1% during the 1st quarter. Bruce G. Allen Investments LLC now owns 2,188 shares of the company's stock valued at $58,000 after purchasing an additional 556 shares during the last quarter. 5.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Equinor ASA from a "neutral" rating to an "underweight" rating in a research note on Tuesday, August 12th. Pareto Securities downgraded shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. UBS Group downgraded shares of Equinor ASA from a "neutral" rating to a "sell" rating in a research note on Tuesday, July 1st. Morgan Stanley downgraded shares of Equinor ASA from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, September 3rd. Finally, Hsbc Global Res downgraded shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $22.71.

Equinor ASA Trading Down 1.7%

EQNR opened at $24.33 on Wednesday. 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 company has a market cap of $71.66 billion, a price-to-earnings ratio of 8.08, a price-to-earnings-growth ratio of 0.85 and a beta of 0.57. The firm has a 50 day simple moving average of $24.81 and a 200 day simple moving average of $24.69. Equinor ASA has a fifty-two week low of $21.41 and a fifty-two week high of $28.26.

Equinor ASA (NYSE:EQNR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.64 earnings per share (EPS) 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 analyst estimates of $23.88 billion. Equinor ASA had a net margin of 7.60% and a return on equity of 16.91%. On average, sell-side analysts anticipate that Equinor ASA will post 3.46 earnings per share for the current year.

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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