Bayforest Capital Ltd Invests $407,000 in Equinor ASA $EQNR

Bayforest Capital Ltd acquired a new position in shares of Equinor ASA (NYSE:EQNR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 16,174 shares of the company’s stock, valued at approximately $407,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its stake in Equinor ASA by 8,986.2% during the 1st quarter. Citigroup Inc. now owns 1,260,071 shares of the company’s stock valued at $33,329,000 after acquiring an additional 1,246,203 shares during the period. Goldman Sachs Group Inc. lifted its position in Equinor ASA by 17.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,804,534 shares of the company’s stock valued at $100,630,000 after purchasing an additional 572,193 shares during the period. Voya Investment Management LLC acquired a new position in Equinor ASA during the first quarter valued at $7,459,000. Quantbot Technologies LP lifted its holdings in shares of Equinor ASA by 734.4% in the 1st quarter. Quantbot Technologies LP now owns 261,708 shares of the company’s stock valued at $6,922,000 after buying an additional 230,344 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of Equinor ASA by 329.3% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 237,424 shares of the company’s stock valued at $6,280,000 after buying an additional 182,113 shares during the period. Institutional investors and hedge funds own 5.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EQNR. JPMorgan Chase & Co. cut Equinor ASA from a “neutral” rating to an “underweight” rating in a report on Tuesday, August 12th. Weiss Ratings raised Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Hsbc Global Res cut shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Pareto Securities cut shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Finally, DZ Bank downgraded shares of Equinor ASA from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $22.71.

Equinor ASA Stock Up 0.1%

EQNR opened at $23.10 on Thursday. Equinor ASA has a twelve month low of $21.41 and a twelve month high of $28.26. The company has a quick ratio of 1.37, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $24.49 and a 200 day moving average price of $24.60. The company has a market cap of $68.01 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 0.82 and a beta of 0.52.

Equinor ASA (NYSE:EQNR) last announced its 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 firm had revenue of $25.12 billion for the quarter, compared to analyst estimates of $23.88 billion. Sell-side analysts expect that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

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.