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

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

Separately, TD Cowen initiated coverage on shares of Equinor ASA in a report on Wednesday, April 24th. They issued a hold rating and a $28.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $28.25.

Equinor ASA Stock Up 0.7 %

EQNR stock opened at $26.91 on Monday. Equinor ASA has a 1-year low of $24.44 and a 1-year high of $34.73. The firm has a market cap of $79.24 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 3.70 and a beta of 0.84. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.88 and a quick ratio of 1.76. The firm has a fifty day moving average price of $28.09 and a two-hundred day moving average price of $27.85.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.18. Equinor ASA had a net margin of 9.30% and a return on equity of 19.67%. The business had revenue of $25.14 billion for the quarter, compared to analysts’ expectations of $25.03 billion. Research analysts predict that Equinor ASA will post 3.46 EPS for the current year.

Hedge Funds Weigh In On Equinor ASA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC grew its holdings in Equinor ASA by 96.7% during the third quarter. Penserra Capital Management LLC now owns 11,792 shares of the company’s stock valued at $386,000 after purchasing an additional 5,797 shares during the last quarter. American Century Companies Inc. grew its holdings in Equinor ASA by 6.5% during the third quarter. American Century Companies Inc. now owns 185,222 shares of the company’s stock valued at $6,073,000 after purchasing an additional 11,357 shares during the last quarter. Wellington Management Group LLP grew its holdings in Equinor ASA by 5.1% during the third quarter. Wellington Management Group LLP now owns 2,774,455 shares of the company’s stock valued at $90,974,000 after purchasing an additional 134,688 shares during the last quarter. Citigroup Inc. grew its holdings in Equinor ASA by 16.2% during the third quarter. Citigroup Inc. now owns 5,670 shares of the company’s stock valued at $186,000 after purchasing an additional 790 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC grew its holdings in Equinor ASA by 5.8% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 45,385 shares of the company’s stock valued at $1,436,000 after purchasing an additional 2,505 shares during the last quarter. 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.