Equinor ASA (NYSE:EQNR) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Equinor ASA (NYSE:EQNR) from a strong-buy rating to a buy rating in a research report report published on Tuesday.

Several other analysts have also recently commented on the stock. Morgan Stanley upgraded shares of Equinor ASA from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $25.80 to $30.90 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. upgraded Equinor ASA from an “underweight” rating to an “overweight” rating in a report on Monday, December 9th. Redburn Atlantic upgraded Equinor ASA from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 20th. Citigroup upgraded shares of Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. Finally, Barclays upgraded shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.45.

Equinor ASA Price Performance

NYSE:EQNR opened at $24.56 on Tuesday. The stock has a market cap of $68.58 billion, a PE ratio of 7.53, a P/E/G ratio of 1.29 and a beta of 0.84. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 0.51. The business’s 50-day simple moving average is $23.97 and its two-hundred day simple moving average is $25.13. Equinor ASA has a 52 week low of $21.85 and a 52 week high of $29.49.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Equinor ASA by 3.7% during the 3rd quarter. Wellington Management Group LLP now owns 3,751,243 shares of the company’s stock worth $95,019,000 after purchasing an additional 132,157 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in shares of Equinor ASA by 1.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 862,570 shares of the company’s stock valued at $24,635,000 after buying an additional 11,500 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Equinor ASA by 3.2% in the third quarter. Fisher Asset Management LLC now owns 522,763 shares of the company’s stock worth $13,242,000 after buying an additional 16,303 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Equinor ASA by 13.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 416,585 shares of the company’s stock worth $11,898,000 after acquiring an additional 49,029 shares during the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in Equinor ASA during the 3rd quarter valued at $6,203,000. Institutional investors 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.