PNC Financial Services Group Inc. Increases Position in Equinor ASA (NYSE:EQNR)

PNC Financial Services Group Inc. raised its position in Equinor ASA (NYSE:EQNR - Free Report) by 31.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,787 shares of the company's stock after purchasing an additional 10,302 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Equinor ASA were worth $1,132,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of EQNR. Sound Income Strategies LLC raised its stake in shares of Equinor ASA by 725.4% in the 1st quarter. Sound Income Strategies LLC now owns 974 shares of the company's stock valued at $26,000 after acquiring an additional 856 shares during the period. GeoWealth Management LLC raised its stake in shares of Equinor ASA by 254.5% in the 4th quarter. GeoWealth Management LLC now owns 1,372 shares of the company's stock valued at $33,000 after acquiring an additional 985 shares during the period. Montag A & Associates Inc. purchased a new stake in shares of Equinor ASA in the 1st quarter valued at approximately $53,000. Wayfinding Financial LLC purchased a new stake in shares of Equinor ASA in the 1st quarter valued at approximately $54,000. Finally, Bruce G. Allen Investments LLC raised its stake in shares of Equinor ASA by 34.1% in the 1st quarter. Bruce G. Allen Investments LLC now owns 2,188 shares of the company's stock valued at $58,000 after acquiring an additional 556 shares during the period. 5.51% of the stock is currently owned by institutional investors and hedge funds.

Equinor ASA Stock Up 0.4%

Shares of NYSE:EQNR traded up $0.10 during trading hours on Friday, reaching $24.60. The stock had a trading volume of 551,505 shares, compared to its average volume of 4,155,629. Equinor ASA has a 1 year low of $21.41 and a 1 year high of $28.26. The firm's 50 day moving average is $25.79 and its 200-day moving average is $24.43. 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 stock has a market capitalization of $72.43 billion, a price-to-earnings ratio of 8.17, a P/E/G ratio of 0.84 and a beta of 0.59.

Equinor ASA (NYSE:EQNR - Get Free Report) last announced 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 net margin of 7.60% and a return on equity of 16.91%. The firm had revenue of $25.12 billion during the quarter, compared to analysts' expectations of $23.88 billion. Research analysts predict that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Redburn Atlantic downgraded shares of Equinor ASA from a "buy" rating to a "sell" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. downgraded shares of Equinor ASA from a "neutral" rating to an "underweight" rating in a research note on Tuesday. Royal Bank Of Canada downgraded shares of Equinor ASA from a "sector perform" rating to an "underperform" rating in a research note on Tuesday, April 22nd. Kepler Capital Markets downgraded shares of Equinor ASA from a "hold" rating to a "reduce" rating in a research note on Tuesday, May 20th. Finally, TD Cowen cut their target price on shares of Equinor ASA from $22.00 to $19.00 and set a "hold" rating on the stock in a research note on Friday, May 2nd. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.