Equinor ASA (NYSE:EQNR) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC cut its holdings in shares of Equinor ASA (NYSE:EQNR) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,773 shares of the company’s stock after selling 970 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Equinor ASA were worth $285,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Mission Wealth Management LP grew its stake in shares of Equinor ASA by 4.5% during the 1st quarter. Mission Wealth Management LP now owns 12,236 shares of the company’s stock valued at $324,000 after buying an additional 522 shares during the period. Bruce G. Allen Investments LLC boosted its holdings in Equinor ASA by 34.1% in the first quarter. Bruce G. Allen Investments LLC now owns 2,188 shares of the company’s stock valued at $58,000 after acquiring an additional 556 shares during the last quarter. Farther Finance Advisors LLC grew its position in Equinor ASA by 9.7% during the first quarter. Farther Finance Advisors LLC now owns 6,769 shares of the company’s stock valued at $182,000 after acquiring an additional 596 shares during the period. GAMMA Investing LLC increased its stake in Equinor ASA by 36.4% during the first quarter. GAMMA Investing LLC now owns 2,355 shares of the company’s stock worth $62,000 after acquiring an additional 629 shares during the last quarter. Finally, Choreo LLC increased its stake in Equinor ASA by 8.8% during the first quarter. Choreo LLC now owns 10,322 shares of the company’s stock worth $273,000 after acquiring an additional 834 shares during the last quarter. 5.51% of the stock is owned by institutional investors and hedge funds.

Equinor ASA Stock Up 3.7%

Shares of NYSE:EQNR opened at $27.05 on Wednesday. The company has a market capitalization of $79.67 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 0.90 and a beta of 0.58. The company has a 50 day moving average of $25.55 and a two-hundred day moving average of $24.41. Equinor ASA has a 52-week low of $21.41 and a 52-week high of $28.29. 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 released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.64 earnings per share 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 firm had revenue of $25.12 billion for the quarter, compared to analyst estimates of $23.88 billion. As a group, analysts forecast that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EQNR has been the topic of several research analyst reports. Redburn Atlantic lowered Equinor ASA from a “buy” rating to a “sell” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Equinor ASA in a research report on Wednesday, May 7th. Barclays downgraded shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 22nd. TD Cowen cut their target price on shares of Equinor ASA from $22.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, May 2nd. Finally, Berenberg Bank lowered shares of Equinor ASA from a “buy” rating to a “hold” rating and set a $26.44 target price on the stock. in a report on Tuesday, May 20th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” 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.