Belpointe Asset Management LLC Buys 21,041 Shares of Equinor ASA $EQNR

Belpointe Asset Management LLC raised its stake in Equinor ASA (NYSE:EQNR) by 225.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 30,368 shares of the company’s stock after purchasing an additional 21,041 shares during the quarter. Belpointe Asset Management LLC’s holdings in Equinor ASA were worth $763,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC lifted its position in Equinor ASA by 725.4% in the first quarter. Sound Income Strategies LLC now owns 974 shares of the company’s stock valued at $26,000 after purchasing an additional 856 shares during the last quarter. Montag A & Associates Inc. bought a new position in shares of Equinor ASA during the first quarter valued at approximately $53,000. Wayfinding Financial LLC bought a new position in shares of Equinor ASA during the first quarter valued at approximately $54,000. Headlands Technologies LLC bought a new position in shares of Equinor ASA during the first quarter valued at approximately $57,000. Finally, Assetmark Inc. raised its holdings in shares of Equinor ASA by 7,586.7% during the first quarter. Assetmark Inc. now owns 2,306 shares of the company’s stock valued at $61,000 after acquiring an additional 2,276 shares in the last quarter. Institutional investors own 5.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. UBS Group downgraded Equinor ASA from a “neutral” rating to a “sell” rating in a report on Tuesday, July 1st. Hsbc Global Res downgraded Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. downgraded Equinor ASA from a “neutral” rating to an “underweight” rating in a report on Tuesday, August 12th. Morgan Stanley downgraded Equinor ASA from an “equal weight” rating to an “underweight” rating in a report on Wednesday, September 3rd. Finally, Pareto Securities downgraded Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, Equinor ASA presently has an average rating of “Reduce” and an average target price of $22.71.

Equinor ASA Price Performance

EQNR opened at $24.62 on Thursday. The stock has a fifty day simple moving average of $24.67 and a two-hundred day simple moving average of $24.69. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.58. The company has a market cap of $72.50 billion, a price-to-earnings ratio of 8.18, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52. Equinor ASA has a 12-month low of $21.41 and a 12-month high of $28.26.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Equinor ASA had a return on equity of 16.91% and a net margin of 7.60%.The firm had revenue of $25.12 billion during the quarter, compared to the consensus estimate of $23.88 billion. Research analysts predict that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Equinor ASA 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.