Ritholtz Wealth Management Raises Holdings in Equinor ASA (NYSE:EQNR)

Ritholtz Wealth Management grew its position in shares of Equinor ASA (NYSE:EQNR) by 60.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 157,810 shares of the company’s stock after purchasing an additional 59,254 shares during the quarter. Ritholtz Wealth Management’s holdings in Equinor ASA were worth $3,739,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in EQNR. Reston Wealth Management LLC purchased a new position in shares of Equinor ASA during the third quarter worth about $31,000. EverSource Wealth Advisors LLC boosted its stake in shares of Equinor ASA by 27.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock worth $45,000 after buying an additional 365 shares during the period. Bruce G. Allen Investments LLC boosted its stake in shares of Equinor ASA by 363.5% during the third quarter. Bruce G. Allen Investments LLC now owns 1,928 shares of the company’s stock worth $49,000 after buying an additional 1,512 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Equinor ASA by 12.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,804 shares of the company’s stock worth $122,000 after buying an additional 543 shares during the period. Finally, Clearbridge Investments LLC acquired a new stake in shares of Equinor ASA during the second quarter worth about $205,000. Hedge funds and other institutional investors own 5.51% of the company’s stock.

Equinor ASA Price Performance

NYSE EQNR opened at $25.10 on Friday. Equinor ASA has a 52 week low of $21.85 and a 52 week high of $29.49. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51. The stock has a market cap of $70.08 billion, a price-to-earnings ratio of 7.70, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. The company has a 50-day moving average price of $23.84 and a two-hundred day moving average price of $25.23.

Equinor ASA (NYSE:EQNR) last released its earnings results on Thursday, October 24th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. The business had revenue of $25.45 billion during the quarter, compared to analyst estimates of $24.45 billion. Equinor ASA had a net margin of 8.95% and a return on equity of 19.97%. During the same period in the prior year, the business earned $0.92 earnings per share. Analysts forecast that Equinor ASA will post 3.36 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Morgan Stanley upgraded shares of Equinor ASA from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $25.80 to $30.90 in a research report on Tuesday, January 7th. Citigroup upgraded shares of Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. Barclays upgraded shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 25th. StockNews.com upgraded shares of Equinor ASA from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Redburn Atlantic upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.45.

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.