Equinor ASA (NYSE:EQNR) Stock Rating Upgraded by Citigroup

Equinor ASA (NYSE:EQNR) was upgraded by Citigroup to a “strong sell” rating in a note issued to investors on Wednesday, Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Barclays upgraded shares of Equinor ASA to a “hold” rating in a research report on Wednesday. Morgan Stanley lowered shares of Equinor ASA from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $30.50 to $25.80 in a research report on Thursday, August 29th. StockNews.com lowered shares of Equinor ASA from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 29th. TD Cowen lowered their price objective on shares of Equinor ASA from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, July 10th. Finally, UBS Group upgraded shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Thursday, August 8th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.90.

Equinor ASA Stock Performance

Shares of EQNR opened at $26.75 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.43 and a debt-to-equity ratio of 0.53. The firm has a market cap of $78.77 billion, a PE ratio of 8.28, a price-to-earnings-growth ratio of 3.45 and a beta of 0.83. The company’s 50 day simple moving average is $26.10 and its 200-day simple moving average is $27.12. Equinor ASA has a 12-month low of $24.02 and a 12-month high of $34.73.

Equinor ASA (NYSE:EQNR) last announced its earnings results on Wednesday, July 24th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Equinor ASA had a net margin of 9.11% and a return on equity of 20.65%. The business had revenue of $25.54 billion for the quarter, compared to analyst estimates of $25.93 billion. During the same period last year, the firm posted $0.74 earnings per share. As a group, equities analysts predict that Equinor ASA will post 3.3 EPS for the current year.

Institutional Investors Weigh In On Equinor ASA

Several institutional investors have recently made changes to their positions in EQNR. Peapack Gladstone Financial Corp raised its stake in shares of Equinor ASA by 3.8% during the 4th quarter. Peapack Gladstone Financial Corp now owns 10,936 shares of the company’s stock worth $345,000 after buying an additional 400 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Equinor ASA by 9.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,432,242 shares of the company’s stock worth $108,596,000 after buying an additional 285,662 shares during the last quarter. Capital Fund Management S.A. raised its stake in shares of Equinor ASA by 301.0% during the 4th quarter. Capital Fund Management S.A. now owns 274,743 shares of the company’s stock worth $8,693,000 after buying an additional 206,234 shares during the last quarter. Logan Capital Management Inc. raised its stake in shares of Equinor ASA by 5.3% during the 4th quarter. Logan Capital Management Inc. now owns 71,806 shares of the company’s stock worth $2,272,000 after buying an additional 3,645 shares during the last quarter. Finally, Barometer Capital Management Inc. acquired a new position in shares of Equinor ASA during the 4th quarter worth $117,000. 5.51% of the stock is currently 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.