OLD National Bancorp IN Sells 2,234 Shares of Equinor ASA (NYSE:EQNR)

OLD National Bancorp IN lowered its stake in Equinor ASA (NYSE:EQNR) by 14.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,813 shares of the company’s stock after selling 2,234 shares during the period. OLD National Bancorp IN’s holdings in Equinor ASA were worth $325,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Equinor ASA by 2,359.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,783,338 shares of the company’s stock worth $183,354,000 after purchasing an additional 6,507,511 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Equinor ASA in the second quarter worth about $5,271,000. Earnest Partners LLC boosted its position in Equinor ASA by 4.5% during the 1st quarter. Earnest Partners LLC now owns 3,865,504 shares of the company’s stock valued at $104,485,000 after acquiring an additional 166,131 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Equinor ASA by 1,334.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 176,993 shares of the company’s stock worth $5,055,000 after acquiring an additional 164,658 shares during the period. Finally, Summit Global Investments raised its position in shares of Equinor ASA by 290.0% in the 2nd quarter. Summit Global Investments now owns 199,823 shares of the company’s stock worth $5,707,000 after acquiring an additional 148,580 shares in the last quarter. Institutional investors own 5.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on EQNR shares. UBS Group upgraded Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Thursday, August 8th. Citigroup upgraded shares of Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. TD Cowen reduced their target price on shares of Equinor ASA from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, July 10th. Morgan Stanley raised shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price target for the company in a research report on Monday, October 14th. Finally, StockNews.com cut shares of Equinor ASA from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Equinor ASA has a consensus rating of “Hold” and a consensus price target of $26.90.

Equinor ASA Price Performance

EQNR opened at $24.57 on Wednesday. The firm has a market cap of $68.62 billion, a PE ratio of 7.49, a P/E/G ratio of 2.22 and a beta of 0.83. The stock has a 50-day moving average price of $25.73 and a 200-day moving average price of $26.94. Equinor ASA has a 1 year low of $23.95 and a 1 year high of $34.21. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.53 and a quick ratio of 1.43.

Equinor ASA (NYSE:EQNR) last issued its earnings results on Wednesday, July 24th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. Equinor ASA had a net margin of 9.11% and a return on equity of 20.65%. The business had revenue of $25.54 billion during the quarter, compared to analysts’ expectations of $25.93 billion. During the same period in the previous year, the company earned $0.74 earnings per share. Sell-side analysts predict that Equinor ASA will post 3.34 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.