Trexquant Investment LP Trims Position in Equinor ASA $EQNR

Key Points

• Trexquant Investment LP reduced its stake in Equinor ASA by 52.5%, selling 442,664 shares, leaving it with 399,916 shares worth approximately $10.58 million.
• Multiple analysts have downgraded Equinor ASA's stock ratings, with TD Cowen lowering its price target from $22.00 to $19.00, indicating a shift towards a "hold" rating.
• Equinor ASA reported earnings of $0.64 per share for the last quarter, missing estimates, but had a revenue of $25.12 billion, surpassing expectations.

Trexquant Investment LP lowered its position in Equinor ASA (NYSE:EQNR - Free Report) by 52.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,916 shares of the company's stock after selling 442,664 shares during the quarter. Trexquant Investment LP's holdings in Equinor ASA were worth $10,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Earnest Partners LLC increased its position in shares of Equinor ASA by 3.4% in the first quarter. Earnest Partners LLC now owns 3,830,699 shares of the company's stock valued at $101,322,000 after acquiring an additional 124,961 shares during the period. Gabelli Funds LLC grew its stake in shares of Equinor ASA by 0.8% in the first quarter. Gabelli Funds LLC now owns 378,000 shares of the company's stock worth $9,998,000 after purchasing an additional 3,000 shares during the last quarter. FORA Capital LLC purchased a new position in Equinor ASA during the 1st quarter valued at about $345,000. Harvest Portfolios Group Inc. increased its holdings in Equinor ASA by 3.4% during the 1st quarter. Harvest Portfolios Group Inc. now owns 75,595 shares of the company's stock valued at $1,999,000 after purchasing an additional 2,486 shares during the period. Finally, ICONIQ Capital LLC raised its position in Equinor ASA by 9.7% during the 1st quarter. ICONIQ Capital LLC now owns 11,189 shares of the company's stock valued at $296,000 after purchasing an additional 994 shares during the last quarter. Hedge funds and other institutional investors own 5.51% of the company's stock.

Equinor ASA Stock Performance

Shares of NYSE EQNR traded up $0.18 during trading on Tuesday, hitting $24.79. The company had a trading volume of 2,530,414 shares, compared to its average volume of 4,098,969. Equinor ASA has a 12 month low of $21.41 and a 12 month high of $28.26. 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 firm has a market capitalization of $73.00 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 0.84 and a beta of 0.57. The stock has a 50 day simple moving average of $25.29 and a 200 day simple moving average of $24.51.

Equinor ASA (NYSE:EQNR - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $0.64 earnings per share (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 during the quarter, compared to analysts' expectations of $23.88 billion. As a group, analysts anticipate that Equinor ASA will post 3.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Pareto Securities downgraded shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. UBS Group downgraded Equinor ASA from a "neutral" rating to a "sell" rating in a report on Tuesday, July 1st. Morgan Stanley cut shares of Equinor ASA from an "overweight" rating to an "equal weight" rating and set a $22.70 price target on the stock. in a report on Monday, May 12th. JPMorgan Chase & Co. cut Equinor ASA from a "neutral" rating to an "underweight" rating in a research note on Tuesday, August 12th. Finally, Berenberg Bank cut Equinor ASA from a "buy" rating to a "hold" rating and set a $26.44 price target for the company. in a research note on Tuesday, May 20th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company's stock. According to MarketBeat, Equinor ASA has a consensus rating of "Reduce" and an average price target 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.