Hsbc Global Res Upgrades Equinor ASA (NYSE:EQNR) to Strong-Buy

Equinor ASA (NYSE:EQNR) was upgraded by Hsbc Global Res to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on EQNR. Barclays upgraded shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 25th. Danske raised Equinor ASA from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Redburn Atlantic raised Equinor ASA from a “neutral” rating to a “buy” rating in a report on Wednesday, November 20th. StockNews.com downgraded Equinor ASA from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley raised shares of Equinor ASA from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $25.80 to $30.90 in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Equinor ASA has an average rating of “Moderate Buy” and a consensus target price of $29.45.

Equinor ASA Trading Down 5.7 %

NYSE:EQNR opened at $23.26 on Monday. Equinor ASA has a 1 year low of $21.85 and a 1 year high of $29.32. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.38 and a current ratio of 1.48. The stock has a fifty day moving average price of $23.93 and a two-hundred day moving average price of $24.78. The stock has a market capitalization of $64.96 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 1.27 and a beta of 0.83.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.19). Equinor ASA had a net margin of 8.49% and a return on equity of 20.33%. As a group, sell-side analysts anticipate that Equinor ASA will post 3.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Equinor ASA

Several hedge funds have recently modified their holdings of the company. Reston Wealth Management LLC acquired a new position in shares of Equinor ASA in the third quarter valued at approximately $31,000. Manchester Capital Management LLC acquired a new position in Equinor ASA in the 4th quarter valued at $33,000. Synergy Asset Management LLC purchased a new position in shares of Equinor ASA during the 4th quarter worth $36,000. R Squared Ltd acquired a new stake in shares of Equinor ASA during the fourth quarter worth $48,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Equinor ASA in the fourth quarter valued at $61,000. 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.