QRG Capital Management Inc. Grows Position in Equinor ASA $EQNR

Key Points

• QRG Capital Management Inc. increased its stake in Equinor ASA by 125.3% during the second quarter, bringing its total holdings to 181,220 shares valued at approximately $4.56 million.
• Equinor ASA's recent earnings report showed a missed consensus EPS estimate of $0.66, with reported earnings of $0.64 and revenues of $25.12 billion, exceeding expectations of $23.88 billion.
• Recent analyst ratings for Equinor ASA have been largely negative, with several firms downgrading their ratings and a current consensus rating of "Reduce" reflecting caution about the stock's future performance.

QRG Capital Management Inc. raised its stake in Equinor ASA (NYSE:EQNR - Free Report) by 125.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 181,220 shares of the company's stock after acquiring an additional 100,783 shares during the quarter. QRG Capital Management Inc.'s holdings in Equinor ASA were worth $4,556,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sound Income Strategies LLC increased its position in Equinor ASA by 725.4% during 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 shares of Equinor ASA during the first quarter worth about $53,000. Wayfinding Financial LLC acquired a new position in shares of Equinor ASA in the first quarter valued at approximately $54,000. Headlands Technologies LLC purchased a new position in shares of Equinor ASA during the first quarter valued at approximately $57,000. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of Equinor ASA by 34.1% during the first quarter. Bruce G. Allen Investments LLC now owns 2,188 shares of the company's stock valued at $58,000 after buying an additional 556 shares during the period. Institutional investors and hedge funds own 5.51% of the company's stock.

Equinor ASA Stock Performance

NYSE EQNR opened at $25.37 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.37. Equinor ASA has a 1-year low of $21.41 and a 1-year high of $28.26. The firm has a market capitalization of $74.71 billion, a P/E ratio of 8.43, a P/E/G ratio of 0.90 and a beta of 0.52. The business's 50-day simple moving average is $24.73 and its 200-day simple moving average is $24.68.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on EQNR shares. JPMorgan Chase & Co. downgraded Equinor ASA from a "neutral" rating to an "underweight" rating in a report on Tuesday, August 12th. Hsbc Global Res lowered Equinor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Equinor ASA in a research report on Saturday, September 27th. Pareto Securities cut Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Finally, UBS Group downgraded shares of Equinor ASA from a "neutral" rating to a "sell" rating in a research note on Tuesday, July 1st. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" 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.

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