Equinor ASA $EQNR Stake Boosted by QRG Capital Management Inc.

QRG Capital Management Inc. increased its holdings in Equinor ASA (NYSE:EQNR) by 125.3% in the second quarter, HoldingsChannel reports. The firm owned 181,220 shares of the company’s stock after purchasing an additional 100,783 shares during the period. QRG Capital Management Inc.’s holdings in Equinor ASA were worth $4,556,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Jump Financial LLC bought a new stake in shares of Equinor ASA in the 1st quarter worth approximately $2,178,000. Sequoia Financial Advisors LLC bought a new position in shares of Equinor ASA in the 1st quarter valued at about $205,000. Goldman Sachs Group Inc. grew its holdings in 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 period. CWA Asset Management Group LLC grew its stake in shares of Equinor ASA by 30.1% during the first quarter. CWA Asset Management Group LLC now owns 68,791 shares of the company’s stock worth $1,820,000 after purchasing an additional 15,910 shares during the period. Finally, Cetera Investment Advisers increased its stake in shares of Equinor ASA by 15.7% in the 1st quarter. Cetera Investment Advisers now owns 83,272 shares of the company’s stock valued at $2,203,000 after acquiring an additional 11,290 shares during the last quarter. 5.51% of the stock is currently owned by institutional investors and hedge funds.

Equinor ASA Stock Performance

Shares of EQNR stock opened at $25.37 on Tuesday. The firm has a 50 day moving average of $24.73 and a 200-day moving average of $24.68. Equinor ASA has a 52 week low of $21.41 and a 52 week high of $28.26. The company has a market cap of $74.71 billion, a price-to-earnings ratio of 8.43, a price-to-earnings-growth ratio of 0.90 and a beta of 0.52. The company has a quick ratio of 1.37, a current ratio of 1.47 and a debt-to-equity ratio of 0.58.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.64 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 for the quarter, compared to the consensus estimate of $23.88 billion. On average, equities analysts forecast that Equinor ASA will post 3.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EQNR has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Equinor ASA in a report on Saturday, September 27th. UBS Group lowered shares of Equinor ASA from a “neutral” rating to a “sell” rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. cut Equinor ASA from a “neutral” rating to an “underweight” rating in a research note on Tuesday, August 12th. Pareto Securities cut Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Finally, Hsbc Global Res lowered shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Four 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. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $22.71.

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.