Equinor ASA (NYSE:EQNR) Lowered to “Buy” Rating by StockNews.com

StockNews.com cut shares of Equinor ASA (NYSE:EQNR) from a strong-buy rating to a buy rating in a research report released on Friday morning.

A number of other research analysts also recently issued reports on the stock. Redburn Atlantic upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 20th. Barclays upgraded shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 25th. Morgan Stanley upgraded shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price target on the stock in a research report on Monday, October 14th. Citigroup upgraded shares of Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Equinor ASA from an “underweight” rating to an “overweight” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.90.

Equinor ASA Price Performance

EQNR opened at $25.20 on Friday. The company has a fifty day simple moving average of $23.57 and a 200 day simple moving average of $25.37. The firm has a market cap of $70.38 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 1.20 and a beta of 0.84. Equinor ASA has a twelve month low of $21.85 and a twelve month high of $32.66. 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 (NYSE:EQNR) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the business earned $0.92 EPS. Equities research analysts expect that Equinor ASA will post 3.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

Large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in Equinor ASA during the 3rd quarter valued at about $1,933,000. Cetera Investment Advisers grew its stake in shares of Equinor ASA by 52.7% in the 2nd quarter. Cetera Investment Advisers now owns 69,718 shares of the company’s stock worth $1,991,000 after purchasing an additional 24,052 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Equinor ASA in the 3rd quarter worth approximately $2,509,000. Truist Financial Corp grew its stake in shares of Equinor ASA by 9.2% in the 2nd quarter. Truist Financial Corp now owns 13,900 shares of the company’s stock worth $397,000 after purchasing an additional 1,167 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in shares of Equinor ASA by 52.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 86,174 shares of the company’s stock worth $2,183,000 after purchasing an additional 29,516 shares during the last quarter. Institutional investors and hedge funds own 5.51% of the company’s stock.

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.