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

Equinor ASA (NYSE:EQNR) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.

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

Equinor ASA Price Performance

Shares of EQNR traded down $0.55 during mid-day trading on Thursday, hitting $23.29. 3,481,985 shares of the company traded hands, compared to its average volume of 3,382,407. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $65.03 billion, a price-to-earnings ratio of 7.14, a PEG ratio of 5.05 and a beta of 0.84. The business has a 50-day moving average of $24.28 and a 200 day moving average of $25.95. Equinor ASA has a one year low of $22.15 and a one year high of $32.66.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The firm had revenue of $25.45 billion for 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 period last year, the company earned $0.92 EPS. As a group, equities analysts expect that Equinor ASA will post 3.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its holdings in Equinor ASA by 27.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock worth $45,000 after buying an additional 365 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of Equinor ASA by 0.7% during the second quarter. Crossmark Global Holdings Inc. now owns 56,658 shares of the company’s stock worth $1,618,000 after acquiring an additional 402 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Equinor ASA by 2.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,810 shares of the company’s stock valued at $480,000 after acquiring an additional 440 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Equinor ASA by 12.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,804 shares of the company’s stock worth $122,000 after purchasing an additional 543 shares during the period. Finally, Profund Advisors LLC increased its holdings in Equinor ASA by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 19,260 shares of the company’s stock worth $550,000 after purchasing an additional 559 shares in the last quarter. 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.