Pzena Investment Management LLC Purchases 4,122 Shares of Equinor ASA $EQNR

Pzena Investment Management LLC grew its position in shares of Equinor ASA (NYSE:EQNR) by 44.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,422 shares of the company’s stock after acquiring an additional 4,122 shares during the quarter. Pzena Investment Management LLC’s holdings in Equinor ASA were worth $337,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Morgan Stanley cut Equinor ASA from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, September 3rd. DZ Bank cut Equinor ASA from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, October 8th. Hsbc Global Res cut Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Weiss Ratings upgraded Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Finally, Pareto Securities lowered Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and seven have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $22.71.

Equinor ASA Trading Up 1.3%

NYSE EQNR opened at $23.51 on Tuesday. Equinor ASA has a fifty-two week low of $21.41 and a fifty-two week high of $28.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.37 and a current ratio of 1.47. The stock has a 50 day simple moving average of $24.56 and a two-hundred day simple moving average of $24.62. The stock has a market cap of $69.22 billion, a P/E ratio of 7.81, a price-to-earnings-growth ratio of 0.84 and a beta of 0.52.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $25.12 billion during the quarter, compared to analysts’ expectations of $23.88 billion. Equinor ASA had a return on equity of 16.91% and a net margin of 7.60%. On average, analysts forecast that Equinor ASA will post 3.46 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.