StockNews.com Upgrades Equinor ASA (NYSE:EQNR) to Strong-Buy

Equinor ASA (NYSE:EQNR) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. raised Equinor ASA from an “underweight” rating to an “overweight” rating in a report on Monday, December 9th. Citigroup raised shares of Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. Morgan Stanley upgraded Equinor ASA from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $25.80 to $30.90 in a research report on Tuesday, January 7th. Redburn Atlantic raised Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, Berenberg Bank raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.45.

Equinor ASA Stock Performance

NYSE:EQNR traded up $0.51 on Monday, reaching $25.78. 2,635,833 shares of the company’s stock were exchanged, compared to its average volume of 3,179,759. The stock has a fifty day simple moving average of $23.74 and a 200-day simple moving average of $25.25. Equinor ASA has a 52 week low of $21.85 and a 52 week high of $29.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.38. The firm has a market cap of $72.00 billion, a price-to-earnings ratio of 7.91, a P/E/G 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 EPS for the quarter, topping the consensus estimate of $0.74 by $0.05. Equinor ASA had a return on equity of 19.97% and a net margin of 8.95%. The business had revenue of $25.45 billion during the quarter, compared to the consensus estimate of $24.45 billion. During the same quarter last year, the company earned $0.92 EPS. As a group, sell-side analysts predict that Equinor ASA will post 3.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EQNR. Mediolanum International Funds Ltd purchased a new position in Equinor ASA during the 3rd quarter valued at about $6,203,000. Public Employees Retirement System of Ohio purchased a new position in shares of Equinor ASA during the third quarter valued at approximately $3,685,000. Wellington Management Group LLP lifted its holdings in shares of Equinor ASA by 3.7% during the third quarter. Wellington Management Group LLP now owns 3,751,243 shares of the company’s stock valued at $95,019,000 after purchasing an additional 132,157 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Equinor ASA in the 3rd quarter worth approximately $2,509,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Equinor ASA in the third quarter worth $2,305,000. 5.51% of the stock is owned by hedge funds and other 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.