Equinor ASA (NYSE:EQNR) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of Equinor ASA (NYSE:EQNR) from a buy rating to a strong-buy rating in a report issued on Monday morning.

A number of other research firms have also weighed in on EQNR. JPMorgan Chase & Co. upgraded shares of Equinor ASA from an “underweight” rating to an “overweight” rating in a research note on Monday, December 9th. Barclays raised shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a report on Monday, November 25th. Citigroup raised Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. Morgan Stanley raised shares of Equinor ASA from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $25.80 to $30.90 in a research note on Tuesday, January 7th. Finally, Redburn Atlantic upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Equinor ASA has an average rating of “Moderate Buy” and an average price target of $29.45.

Equinor ASA Stock Up 2.0 %

EQNR stock opened at $25.78 on Monday. The firm has a 50 day moving average of $23.74 and a 200 day moving average of $25.25. The stock has a market capitalization of $72.00 billion, a PE ratio of 7.91, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84. Equinor ASA has a 52 week low of $21.85 and a 52 week high of $29.75. 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 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. The company had revenue of $25.45 billion during the quarter, compared to analysts’ expectations 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 firm posted $0.92 EPS. Sell-side analysts forecast that Equinor ASA will post 3.35 earnings per share for the current year.

Hedge Funds Weigh In On Equinor ASA

Several institutional investors and hedge funds have recently bought and sold shares of EQNR. Wellington Management Group LLP boosted its stake in Equinor ASA by 3.7% during the third quarter. Wellington Management Group LLP now owns 3,751,243 shares of the company’s stock worth $95,019,000 after buying an additional 132,157 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Equinor ASA by 1.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 862,570 shares of the company’s stock worth $24,635,000 after acquiring an additional 11,500 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Equinor ASA by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 522,763 shares of the company’s stock worth $13,242,000 after acquiring an additional 16,303 shares during the last quarter. Envestnet Asset Management Inc. boosted its position 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 purchasing an additional 49,029 shares during the period. Finally, Mediolanum International Funds Ltd acquired a new stake in Equinor ASA in the 3rd quarter valued at approximately $6,203,000. 5.51% of the stock is currently owned by institutional investors and hedge funds.

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.