Bank of New York Mellon Corp acquired a new stake in shares of Equinor ASA (NYSE:EQNR) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 69,885 shares of the company’s stock, valued at approximately $1,846,000.
A number of other hedge funds also recently bought and sold shares of the stock. CIBC Private Wealth Group LLC purchased a new position in shares of Equinor ASA in the 2nd quarter worth $156,000. Hall Laurie J Trustee purchased a new position in shares of Equinor ASA in the 2nd quarter worth $162,000. Advisory Services Network LLC purchased a new position in shares of Equinor ASA in the 2nd quarter worth $165,000. Jaffetilchin Investment Partners LLC purchased a new position in shares of Equinor ASA in the 2nd quarter worth $204,000. Finally, Eqis Capital Management Inc. purchased a new position in shares of Equinor ASA in the 2nd quarter worth $221,000. 5.17% of the stock is owned by institutional investors.
EQNR has been the topic of a number of research reports. Zacks Investment Research upgraded Equinor ASA from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Thursday, July 19th. Bank of America upgraded Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Friday, October 5th. Barclays upgraded Equinor ASA from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, September 11th. Berenberg Bank initiated coverage on Equinor ASA in a research note on Tuesday, September 11th. They issued a “hold” rating on the stock. Finally, Sanford C. Bernstein downgraded Equinor ASA from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 10th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $29.00.
NYSE EQNR opened at $26.88 on Friday. The firm has a market cap of $93.71 billion, a P/E ratio of 19.48, a P/E/G ratio of 0.98 and a beta of 0.90. The company has a current ratio of 1.30, a quick ratio of 1.13 and a debt-to-equity ratio of 0.58. Equinor ASA has a fifty-two week low of $19.74 and a fifty-two week high of $28.93.
Equinor ASA (NYSE:EQNR) last released its earnings results on Thursday, July 26th. The company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.09. The company had revenue of $18.14 billion for the quarter. Equinor ASA had a return on equity of 13.09% and a net margin of 6.69%. On average, equities research analysts anticipate that Equinor ASA will post 1.87 EPS for the current year.
About Equinor ASA
Equinor ASA, an energy company, explores for, produces, transports, refines, and markets petroleum and petroleum-derived products, and other forms of energy in Norway and internationally. The company operates through Development & Production Norway; Development & Production USA; Development & Production International; Marketing, Midstream & Processing; New Energy Solutions; Technology, Projects & Drilling; Exploration; and Global Strategy & Business Development segments.
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