Equinor ASA $EQNR Stake Increased by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its stake in Equinor ASA by 51.8% during the first quarter, holding 186,784 shares valued at approximately $4.94 million by the quarter's end.
• Equinor ASA's stock saw a minor increase of 0.6% recently, with a market cap of $72.51 billion and a current share price of $24.63, well below its 52-week high of $28.26.
• Analyst sentiment for Equinor ASA has shifted, with multiple firms downgrading their ratings, leading to an average rating of "Reduce" and a consensus price target of $22.71 among analysts.

Vident Advisory LLC raised its position in Equinor ASA (NYSE:EQNR - Free Report) by 51.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 186,784 shares of the company's stock after purchasing an additional 63,768 shares during the period. Vident Advisory LLC's holdings in Equinor ASA were worth $4,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of EQNR. Sound Income Strategies LLC increased its position 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 purchasing an additional 856 shares during the last quarter. Montag A & Associates Inc. purchased a new position in shares of Equinor ASA in the 1st quarter valued at $53,000. Wayfinding Financial LLC purchased a new position in shares of Equinor ASA in the 1st quarter valued at $54,000. Headlands Technologies LLC purchased a new position in shares of Equinor ASA in the 1st quarter valued at $57,000. Finally, Bruce G. Allen Investments LLC grew its position 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 buying an additional 556 shares during the last quarter. 5.51% of the stock is owned by hedge funds and other institutional investors.

Equinor ASA Stock Performance

Shares of NYSE:EQNR traded down $1.08 during midday trading on Wednesday, hitting $23.71. The stock had a trading volume of 5,491,075 shares, compared to its average volume of 4,107,313. The company has a market capitalization of $69.80 billion, a PE ratio of 7.88, a P/E/G ratio of 0.84 and a beta of 0.57. The stock has a 50 day moving average price of $25.29 and a two-hundred day moving average price of $24.51. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.58. Equinor ASA has a 1 year low of $21.41 and a 1 year high of $28.26.

Equinor ASA (NYSE:EQNR - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $0.64 earnings per share 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 firm had revenue of $25.12 billion during the quarter, compared to analysts' expectations of $23.88 billion. As a group, equities analysts predict that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on EQNR shares. Barclays downgraded shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Pareto Securities downgraded shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Hsbc Global Res downgraded shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Berenberg Bank downgraded shares of Equinor ASA from a "buy" rating to a "hold" rating and set a $26.44 price objective on the stock. in a research report on Tuesday, May 20th. Finally, UBS Group downgraded shares of Equinor ASA from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus 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.