Sandy Cove Advisors LLC Invests $203,000 in Equinor ASA (NYSE:EQNR)

Sandy Cove Advisors LLC purchased a new position in shares of Equinor ASA (NYSE:EQNR) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,500 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds have also recently bought and sold shares of EQNR. Principal Securities Inc. purchased a new stake in Equinor ASA during the fourth quarter valued at about $30,000. EverSource Wealth Advisors LLC grew its position in Equinor ASA by 136.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,090 shares of the company’s stock valued at $34,000 after acquiring an additional 629 shares during the period. Avalon Trust Co acquired a new position in Equinor ASA in the fourth quarter worth $41,000. SRS Capital Advisors Inc. lifted its holdings in Equinor ASA by 558.9% during the 3rd quarter. SRS Capital Advisors Inc. now owns 1,331 shares of the company’s stock worth $44,000 after buying an additional 1,129 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in Equinor ASA during the 4th quarter worth $43,000. Institutional investors and hedge funds own 5.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on EQNR shares. TD Cowen assumed coverage on Equinor ASA in a report on Wednesday, April 24th. They issued a “hold” rating and a $28.00 price objective on the stock. StockNews.com raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Equinor ASA has a consensus rating of “Hold” and a consensus price target of $28.25.

Equinor ASA Price Performance

Shares of EQNR traded up $0.25 during mid-day trading on Friday, hitting $28.56. 2,203,341 shares of the stock were exchanged, compared to its average volume of 2,149,601. Equinor ASA has a 52-week low of $24.44 and a 52-week high of $34.73. The company has a market cap of $84.10 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 3.76 and a beta of 0.83. The firm has a 50-day moving average of $27.92 and a two-hundred day moving average of $28.04. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.76 and a current ratio of 1.88.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.18. The firm had revenue of $25.14 billion during the quarter, compared to the consensus estimate of $25.03 billion. Equinor ASA had a net margin of 9.30% and a return on equity of 19.67%. On average, equities analysts predict that Equinor ASA will post 3.5 earnings per share for the current year.

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.