Equinor ASA (NYSE:EQNR) Downgraded by StockNews.com to “Buy”

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

A number of other research analysts have also issued reports on EQNR. JPMorgan Chase & Co. raised Equinor ASA from an “underweight” rating to an “overweight” rating in a report on Monday, December 9th. Berenberg Bank raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Morgan Stanley raised shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 target price for the company in a research note on Monday, October 14th. Redburn Atlantic upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a report on Wednesday, November 20th. Finally, Citigroup raised Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Equinor ASA currently has a consensus rating of “Moderate Buy” and an average price target of $26.90.

Equinor ASA Price Performance

Shares of Equinor ASA stock traded up $0.63 on Friday, hitting $25.20. The company had a trading volume of 2,487,477 shares, compared to its average volume of 2,671,039. Equinor ASA has a 52 week low of $21.85 and a 52 week high of $32.66. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.38. The company has a market cap of $70.38 billion, a PE ratio of 7.73, a PEG ratio of 1.20 and a beta of 0.84. The business has a 50-day simple moving average of $23.58 and a 200-day simple moving average of $25.39.

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, beating analysts’ consensus estimates of $0.74 by $0.05. Equinor ASA had a return on equity of 19.97% and a net margin of 8.95%. The firm had revenue of $25.45 billion during the quarter, compared to analyst estimates of $24.45 billion. During the same period last year, the company posted $0.92 EPS. Research analysts expect that Equinor ASA will post 3.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new stake in Equinor ASA during the 3rd quarter worth about $31,000. Rothschild Investment LLC purchased a new stake in shares of Equinor ASA in the second quarter worth approximately $32,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Equinor ASA by 27.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock worth $45,000 after purchasing an additional 365 shares during the period. Bruce G. Allen Investments LLC grew its position in Equinor ASA by 363.5% during the third quarter. Bruce G. Allen Investments LLC now owns 1,928 shares of the company’s stock valued at $49,000 after purchasing an additional 1,512 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Equinor ASA in the 2nd quarter valued at approximately $51,000. 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.