Equinor ASA (NYSE:EQNR) Downgraded to “Buy” Rating by StockNews.com

StockNews.com cut shares of Equinor ASA (NYSE:EQNR) from a strong-buy rating to a buy rating in a report released on Thursday morning.

Other equities research analysts have also recently issued reports about the company. Citigroup raised Equinor ASA to a “strong sell” rating in a research note on Wednesday, October 2nd. Barclays raised shares of Equinor ASA to a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley raised Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price objective for the company in a research report on Monday, October 14th. UBS Group upgraded shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, Redburn Atlantic upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.90.

Equinor ASA Trading Up 1.4 %

NYSE:EQNR opened at $24.91 on Thursday. The company has a 50-day moving average price of $24.59 and a 200-day moving average price of $26.39. The stock has a market cap of $69.55 billion, a price-to-earnings ratio of 7.64, a P/E/G ratio of 5.15 and a beta of 0.84. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51. Equinor ASA has a 12 month low of $22.15 and a 12 month high of $33.24.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings data 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 net margin of 8.95% and a return on equity of 19.97%. The business had revenue of $25.45 billion during the quarter, compared to analyst estimates of $24.45 billion. During the same period last year, the business posted $0.92 earnings per share. Equities analysts predict that Equinor ASA will post 3.31 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in Equinor ASA by 2,359.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,783,338 shares of the company’s stock worth $183,354,000 after purchasing an additional 6,507,511 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of Equinor ASA by 4.5% in the 1st quarter. Earnest Partners LLC now owns 3,865,504 shares of the company’s stock worth $104,485,000 after buying an additional 166,131 shares during the last quarter. Wellington Management Group LLP grew its holdings 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 during the period. Teachers Retirement System of The State of Kentucky increased its position in Equinor ASA by 1.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 862,570 shares of the company’s stock valued at $24,635,000 after acquiring an additional 11,500 shares during the last quarter. Finally, Cambiar Investors LLC lifted its holdings in Equinor ASA by 3.9% in the second quarter. Cambiar Investors LLC now owns 572,243 shares of the company’s stock valued at $16,343,000 after acquiring an additional 21,469 shares during the period. 5.51% of the stock is owned by hedge funds and other institutional investors.

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.