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

Equinor ASA (NYSE:EQNR) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

Other equities research analysts have also issued research reports about the stock. Citigroup upgraded shares of Equinor ASA to a “strong sell” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded Equinor ASA from an “underweight” rating to an “overweight” rating in a report on Monday, December 9th. Barclays upgraded Equinor ASA from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 25th. Berenberg Bank upgraded Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Finally, Morgan Stanley upgraded shares of Equinor ASA from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $25.80 to $30.90 in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.45.

Equinor ASA Trading Down 2.2 %

Shares of Equinor ASA stock opened at $24.02 on Tuesday. 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 fifty day simple moving average of $24.01 and a 200 day simple moving average of $25.10. Equinor ASA has a 12-month low of $21.85 and a 12-month high of $29.49. The company has a market capitalization of $67.07 billion, a P/E ratio of 7.37, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84.

Equinor ASA (NYSE:EQNR) last posted its earnings results on Thursday, October 24th. The company reported $0.79 earnings per share (EPS) 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 firm had revenue of $25.45 billion during the quarter, compared to analyst estimates of $24.45 billion. During the same quarter in the prior year, the business posted $0.92 EPS. On average, sell-side analysts anticipate that Equinor ASA will post 3.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in shares of Equinor ASA during the third quarter valued at about $1,933,000. Cetera Investment Advisers increased its holdings in Equinor ASA by 52.7% during the 2nd quarter. Cetera Investment Advisers now owns 69,718 shares of the company’s stock worth $1,991,000 after acquiring an additional 24,052 shares during the period. GSA Capital Partners LLP purchased a new stake in Equinor ASA in the 3rd quarter worth approximately $2,509,000. Truist Financial Corp boosted its holdings in Equinor ASA by 9.2% in the 2nd quarter. Truist Financial Corp now owns 13,900 shares of the company’s stock valued at $397,000 after purchasing an additional 1,167 shares during the period. Finally, Crossmark Global Holdings Inc. grew its position in shares of Equinor ASA by 52.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 86,174 shares of the company’s stock valued at $2,183,000 after purchasing an additional 29,516 shares in 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.