Equinor ASA (NYSE:EQNR) Raised 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 published on Friday morning.

A number of other brokerages have also recently issued reports on EQNR. JPMorgan Chase & Co. upgraded shares of Equinor ASA from an “underweight” rating to an “overweight” rating in a research report on Monday, December 9th. Berenberg Bank raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 27th. Redburn Atlantic raised Equinor ASA from a “neutral” rating to a “buy” rating in a report on Wednesday, November 20th. Citigroup upgraded Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley upgraded 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.90.

Equinor ASA Trading Up 0.2 %

Shares of EQNR opened at $22.29 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 stock has a market cap of $62.25 billion, a PE ratio of 6.84, a PEG ratio of 1.20 and a beta of 0.84. Equinor ASA has a 1 year low of $21.85 and a 1 year high of $32.66. The stock has a 50 day simple moving average of $23.81 and a 200-day simple moving average of $25.67.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The firm had revenue of $25.45 billion for the quarter, compared to analysts’ expectations of $24.45 billion. Equinor ASA had a return on equity of 19.97% and a net margin of 8.95%. During the same period in the prior year, the business posted $0.92 earnings per share. On average, sell-side analysts predict that Equinor ASA will post 3.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Equinor ASA

Several hedge funds and other institutional investors have recently made changes to their positions in EQNR. Reston Wealth Management LLC bought a new position in shares of Equinor ASA in the 3rd quarter valued at about $31,000. Rothschild Investment LLC bought a new position in Equinor ASA in the second quarter valued at approximately $32,000. EverSource Wealth Advisors LLC grew its holdings in Equinor ASA by 27.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock worth $45,000 after acquiring an additional 365 shares during the period. Bruce G. Allen Investments LLC grew its holdings in Equinor ASA by 363.5% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,928 shares of the company’s stock worth $49,000 after acquiring an additional 1,512 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Equinor ASA during the 2nd quarter valued at $51,000. 5.51% of the stock is 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.