Equinor ASA (NYSE:EQNR) Downgraded 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 sent to investors on Thursday morning.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. raised Equinor ASA from an “underweight” rating to an “overweight” rating in a research report on Monday, December 9th. Redburn Atlantic upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a report on Wednesday, November 20th. Morgan Stanley upgraded shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price objective for the company in a report on Monday, October 14th. Berenberg Bank raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Finally, Citigroup raised shares of Equinor ASA to a “strong sell” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $26.90.

Equinor ASA Price Performance

EQNR stock opened at $23.19 on Thursday. The firm has a market capitalization of $64.76 billion, a P/E ratio of 7.11, a price-to-earnings-growth ratio of 1.23 and a beta of 0.84. Equinor ASA has a 52 week low of $22.15 and a 52 week high of $32.66. The company has a fifty day simple moving average of $24.13 and a two-hundred day simple moving average of $25.88. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 0.51.

Equinor ASA (NYSE:EQNR) last announced its earnings results on Thursday, October 24th. The company reported $0.79 earnings per share (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 return on equity of 19.97% and a net margin of 8.95%. During the same quarter in the previous year, the business earned $0.92 earnings per share. Analysts anticipate that Equinor ASA will post 3.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

A number of hedge funds and other institutional investors have recently modified their holdings of EQNR. CWM LLC boosted its position in Equinor ASA by 29.6% during the 2nd quarter. CWM LLC now owns 2,823 shares of the company’s stock valued at $81,000 after acquiring an additional 645 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Equinor ASA by 27.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,598 shares of the company’s stock valued at $274,000 after purchasing an additional 2,053 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Equinor ASA by 3.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 18,114 shares of the company’s stock valued at $517,000 after purchasing an additional 560 shares during the last quarter. Blue Trust Inc. raised its holdings in Equinor ASA by 242.9% in the second quarter. Blue Trust Inc. now owns 10,932 shares of the company’s stock worth $295,000 after purchasing an additional 7,744 shares in the last quarter. Finally, Milestone Asset Management LLC purchased a new stake in shares of Equinor ASA during the second quarter valued at about $794,000. 5.51% of the stock is currently owned by institutional investors.

Equinor ASA Company 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.