US Bancorp DE Trims Stock Position in Equinor ASA $EQNR

Key Points

• US Bancorp DE significantly reduced its stake in Equinor ASA by 40.7% during the second quarter, now holding 53,538 shares valued at approximately $1.35 million.
• Citigroup Inc. dramatically increased its position in Equinor ASA by 8,986.2%, becoming a major shareholder with over 1.26 million shares worth about $33.33 million.
• Equinor ASA's recent quarterly earnings showed a net margin of 7.60% and a revenue of $25.12 billion, exceeding analyst expectations, although EPS missed by $0.02.

US Bancorp DE lowered its position in shares of Equinor ASA (NYSE:EQNR - Free Report) by 40.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,538 shares of the company's stock after selling 36,719 shares during the period. US Bancorp DE's holdings in Equinor ASA were worth $1,346,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of EQNR. Citigroup Inc. increased its holdings in shares of Equinor ASA by 8,986.2% in the 1st quarter. Citigroup Inc. now owns 1,260,071 shares of the company's stock worth $33,329,000 after buying an additional 1,246,203 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Equinor ASA by 17.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,804,534 shares of the company's stock worth $100,630,000 after acquiring an additional 572,193 shares during the last quarter. Voya Investment Management LLC purchased a new position in Equinor ASA in the first quarter worth $7,459,000. Quantbot Technologies LP grew its position in Equinor ASA by 734.4% in the first quarter. Quantbot Technologies LP now owns 261,708 shares of the company's stock worth $6,922,000 after acquiring an additional 230,344 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in Equinor ASA by 329.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 237,424 shares of the company's stock worth $6,280,000 after acquiring an additional 182,113 shares in the last quarter. Hedge funds and other institutional investors own 5.51% of the company's stock.

Equinor ASA Price Performance

Shares of Equinor ASA stock opened at $22.86 on Friday. Equinor ASA has a 52-week low of $21.41 and a 52-week high of $28.26. The stock has a market capitalization of $67.32 billion, a price-to-earnings ratio of 7.59, a price-to-earnings-growth ratio of 0.82 and a beta of 0.52. The company has a fifty day moving average of $24.45 and a 200-day moving average of $24.58. 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 (NYSE:EQNR - Get Free Report) last announced 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). 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 research analysts expect that Equinor ASA will post 3.46 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EQNR shares. UBS Group lowered shares of Equinor ASA from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. lowered shares of Equinor ASA from a "neutral" rating to an "underweight" rating in a research report on Tuesday, August 12th. Weiss Ratings upgraded shares of Equinor ASA from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, October 8th. Morgan Stanley lowered shares of Equinor ASA from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, September 3rd. Finally, Pareto Securities lowered shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.