Hennessy Advisors Inc. Reduces Holdings in Equinor ASA (NYSE:EQNR)

Hennessy Advisors Inc. lowered its position in Equinor ASA (NYSE:EQNR) by 3.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 164,400 shares of the company’s stock after selling 5,900 shares during the quarter. Hennessy Advisors Inc.’s holdings in Equinor ASA were worth $3,895,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EQNR. Reston Wealth Management LLC purchased a new position in shares of Equinor ASA in the third quarter worth about $31,000. EverSource Wealth Advisors LLC grew its stake in Equinor ASA by 27.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock valued at $45,000 after buying an additional 365 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in Equinor ASA by 363.5% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,928 shares of the company’s stock valued at $49,000 after acquiring an additional 1,512 shares during the period. Allspring Global Investments Holdings LLC lifted its position 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 acquiring an additional 543 shares in the last quarter. Finally, Clearbridge Investments LLC bought a new position in shares of Equinor ASA in the second quarter worth $205,000. 5.51% of the stock is currently owned by institutional investors.

Equinor ASA Stock Down 0.5 %

EQNR stock opened at $24.94 on Friday. The company’s 50 day moving average is $23.88 and its 200 day moving average is $25.23. The stock has a market cap of $69.65 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51. Equinor ASA has a 1-year low of $21.85 and a 1-year high of $29.49.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. Equinor ASA had a net margin of 8.95% and a return on equity of 19.97%. The firm had revenue of $25.45 billion for the quarter, compared to analyst estimates of $24.45 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. Sell-side analysts predict that Equinor ASA will post 3.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EQNR. Barclays upgraded Equinor ASA from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 25th. Citigroup raised shares of Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. Berenberg Bank upgraded shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Redburn Atlantic upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised shares of Equinor ASA from an “underweight” rating to an “overweight” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.