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

StockNews.com upgraded shares of Equinor ASA (NYSE:EQNR) from a buy rating to a strong-buy rating in a report issued on Friday.

A number of other brokerages also recently issued reports on EQNR. 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 objective on the stock in a report on Monday, October 14th. Barclays raised shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a report on Monday, November 25th. UBS Group raised shares of Equinor ASA from a “sell” rating to a “neutral” rating in a report on Thursday, August 8th. 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, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.90.

Equinor ASA Stock Performance

Shares of NYSE EQNR opened at $24.19 on Friday. The company’s fifty day moving average price is $24.50 and its 200 day moving average price is $26.22. Equinor ASA has a 1 year low of $22.15 and a 1 year high of $32.66. The company has a market capitalization of $67.56 billion, a PE ratio of 7.42, a price-to-earnings-growth ratio of 5.30 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.38 and a current ratio of 1.48.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $24.45 billion. During the same period in the prior year, the firm posted $0.92 earnings per share. On average, research analysts predict that Equinor ASA will post 3.31 earnings per share for the current year.

Institutional Investors Weigh In On Equinor ASA

A number of hedge funds have recently modified their holdings of EQNR. Virtu Financial LLC acquired a new stake in shares of Equinor ASA in the first quarter valued at about $670,000. GAMMA Investing LLC increased its position in Equinor ASA by 44.8% during the second quarter. GAMMA Investing LLC now owns 2,142 shares of the company’s stock worth $61,000 after purchasing an additional 663 shares during the last quarter. Mather Group LLC. increased its position in Equinor ASA by 36.1% during the second quarter. Mather Group LLC. now owns 24,036 shares of the company’s stock worth $650,000 after purchasing an additional 6,378 shares during the last quarter. CWM LLC increased its position in Equinor ASA by 29.6% during the second quarter. CWM LLC now owns 2,823 shares of the company’s stock worth $81,000 after purchasing an additional 645 shares during the last quarter. Finally, Atwood & Palmer Inc. acquired a new stake in Equinor ASA during the second quarter worth about $25,000. 5.51% of the stock is currently owned by institutional investors and hedge funds.

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.