Equinor ASA (NYSE:EQNR) Cut to Buy at StockNews.com

Equinor ASA (NYSE:EQNR) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Several other equities analysts have also recently commented on EQNR. Redburn Atlantic raised shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 20th. Citigroup raised Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. Morgan Stanley upgraded Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 target price for the company in a research report on Monday, October 14th. Barclays raised Equinor ASA from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 25th. Finally, Berenberg Bank raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.90.

Equinor ASA Stock Up 2.6 %

EQNR stock traded up $0.63 during midday trading on Friday, hitting $25.20. 2,487,477 shares of the company’s stock were exchanged, compared to its average volume of 2,671,039. The firm has a 50 day moving average price of $23.58 and a 200-day moving average price of $25.39. Equinor ASA has a 12-month low of $21.85 and a 12-month high of $32.66. The stock has a market capitalization of $70.38 billion, a price-to-earnings ratio of 7.73, a price-to-earnings-growth ratio of 1.20 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 (NYSE:EQNR) last issued 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 business had revenue of $25.45 billion during the quarter, compared to analyst estimates of $24.45 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. On average, analysts anticipate that Equinor ASA will post 3.35 EPS for the current year.

Hedge Funds Weigh In On Equinor ASA

Several hedge funds and other institutional investors have recently modified their holdings of EQNR. JPMorgan Chase & Co. increased its holdings in shares of Equinor ASA by 11.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 94,267 shares of the company’s stock worth $2,388,000 after acquiring an additional 9,512 shares during the period. Logan Capital Management Inc. grew its position in Equinor ASA by 4.2% in the 3rd quarter. Logan Capital Management Inc. now owns 115,879 shares of the company’s stock worth $2,935,000 after purchasing an additional 4,626 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Equinor ASA in the third quarter valued at approximately $3,685,000. Wellington Management Group LLP raised its holdings in shares of Equinor ASA by 3.7% during the third quarter. Wellington Management Group LLP now owns 3,751,243 shares of the company’s stock valued at $95,019,000 after buying an additional 132,157 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Equinor ASA by 20.0% during the third quarter. Stifel Financial Corp now owns 75,475 shares of the company’s stock worth $1,912,000 after buying an additional 12,585 shares during the period. Institutional investors and hedge funds own 5.51% of the company’s stock.

Equinor ASA Company Profile

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.