Fmr LLC Cuts Stock Position in Equinor ASA (NYSE:EQNR)

Fmr LLC trimmed its stake in shares of Equinor ASA (NYSE:EQNR) by 8.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,353,049 shares of the company’s stock after selling 1,314,136 shares during the quarter. Fmr LLC’s holdings in Equinor ASA were worth $363,563,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Teachers Retirement System of The State of Kentucky lifted its stake in Equinor ASA by 1.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 862,570 shares of the company’s stock valued at $24,635,000 after buying an additional 11,500 shares in the last quarter. Cambiar Investors LLC raised its holdings in shares of Equinor ASA by 3.9% during the second quarter. Cambiar Investors LLC now owns 572,243 shares of the company’s stock valued at $16,343,000 after acquiring an additional 21,469 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Equinor ASA by 3.2% in the third quarter. Fisher Asset Management LLC now owns 522,763 shares of the company’s stock valued at $13,242,000 after acquiring an additional 16,303 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Equinor ASA by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 479,848 shares of the company’s stock worth $13,704,000 after acquiring an additional 2,894 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Equinor ASA by 13.3% during the second quarter. Envestnet Asset Management Inc. now owns 416,585 shares of the company’s stock worth $11,898,000 after purchasing an additional 49,029 shares in the last quarter. Institutional investors and hedge funds own 5.51% of the company’s stock.

Analyst Upgrades and Downgrades

EQNR has been the topic of a number of research reports. Citigroup upgraded Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. Morgan Stanley raised shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price target on the stock in a research note on Monday, October 14th. Barclays raised shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 25th. Berenberg Bank raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Redburn Atlantic upgraded Equinor ASA from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.90.

Equinor ASA Price Performance

Shares of EQNR stock opened at $24.18 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.38. The company has a market capitalization of $67.53 billion, a PE ratio of 7.42, a price-to-earnings-growth ratio of 5.30 and a beta of 0.84. The firm’s 50-day moving average is $24.50 and its two-hundred day moving average is $26.20. Equinor ASA has a 12 month low of $22.15 and a 12 month high of $32.66.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. Equinor ASA had a net margin of 8.95% and a return on equity of 19.97%. The firm had revenue of $25.45 billion for the quarter, compared to analyst estimates of $24.45 billion. During the same quarter in the previous year, the company earned $0.92 EPS. Analysts predict that Equinor ASA will post 3.31 earnings per share for the current year.

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.