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

StockNews.com lowered shares of Equinor ASA (NYSE:EQNR) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

Several other analysts also recently issued reports on EQNR. Barclays raised shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a report on Monday, November 25th. Citigroup raised shares of Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. Morgan Stanley raised shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price target on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. raised shares of Equinor ASA from an “underweight” rating to an “overweight” rating in a report on Monday, December 9th. Finally, Redburn Atlantic raised shares of Equinor ASA from a “neutral” rating to a “buy” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.90.

Equinor ASA Trading Up 2.6 %

Shares of EQNR opened at $25.20 on Friday. 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 firm’s 50-day moving average is $23.57 and its two-hundred day moving average is $25.37. Equinor ASA has a twelve month low of $21.85 and a twelve month high of $32.66. The firm has a market capitalization of $70.38 billion, a P/E ratio of 7.73, a PEG ratio of 1.20 and a beta of 0.84.

Equinor ASA (NYSE:EQNR) last issued its 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 net margin of 8.95% and a return on equity of 19.97%. The company had revenue of $25.45 billion for the quarter, compared to analyst estimates of $24.45 billion. During the same period in the prior year, the business posted $0.92 earnings per share. On average, research analysts predict that Equinor ASA will post 3.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

Several institutional investors and hedge funds have recently modified their holdings of EQNR. Mediolanum International Funds Ltd purchased a new position in shares of Equinor ASA during the third quarter valued at approximately $6,203,000. Commonwealth Equity Services LLC raised its stake in Equinor ASA by 1,334.9% during the second quarter. Commonwealth Equity Services LLC now owns 176,993 shares of the company’s stock worth $5,055,000 after purchasing an additional 164,658 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Equinor ASA in the third quarter worth $3,685,000. Wellington Management Group LLP increased its position in shares of Equinor ASA by 3.7% in the third quarter. Wellington Management Group LLP now owns 3,751,243 shares of the company’s stock worth $95,019,000 after acquiring an additional 132,157 shares in the last quarter. Finally, Norden Group LLC acquired a new stake in shares of Equinor ASA in the second quarter worth $3,388,000. Hedge funds and other institutional investors own 5.51% of the company’s stock.

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.