Equinor ASA (NYSE:EQNR) Raised to “Buy” at Redburn Atlantic

Equinor ASA (NYSE:EQNR) was upgraded by research analysts at Redburn Atlantic from a “neutral” rating to a “buy” rating in a report released on Wednesday, MarketBeat.com reports.

EQNR has been the topic of several other reports. UBS Group upgraded shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Thursday, August 8th. StockNews.com raised Equinor ASA from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Barclays raised Equinor ASA to a “hold” rating in a research note on Wednesday, October 2nd. Citigroup raised Equinor ASA to a “strong sell” rating in a research note 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 target for the company in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.90.

Equinor ASA Stock Performance

NYSE:EQNR opened at $24.91 on Wednesday. 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 50-day simple moving average of $24.59 and a two-hundred day simple moving average of $26.39. The firm has a market capitalization of $69.55 billion, a PE ratio of 7.64, a P/E/G ratio of 5.15 and a beta of 0.84. Equinor ASA has a 52-week low of $22.15 and a 52-week high of $33.24.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings data 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 company had revenue of $25.45 billion during the quarter, compared to the consensus estimate of $24.45 billion. During the same period in the previous year, the company posted $0.92 EPS. Analysts forecast that Equinor ASA will post 3.31 EPS for the current year.

Institutional Trading of Equinor ASA

Several hedge funds have recently modified their holdings of EQNR. EverSource Wealth Advisors LLC lifted its holdings in shares of Equinor ASA by 27.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock valued at $45,000 after acquiring an additional 365 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in Equinor ASA by 0.7% during the second quarter. Crossmark Global Holdings Inc. now owns 56,658 shares of the company’s stock valued at $1,618,000 after purchasing an additional 402 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Equinor ASA by 2.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,810 shares of the company’s stock valued at $480,000 after purchasing an additional 440 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Equinor ASA by 12.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,804 shares of the company’s stock worth $122,000 after purchasing an additional 543 shares during the period. Finally, Profund Advisors LLC increased its position in shares of Equinor ASA by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 19,260 shares of the company’s stock valued at $550,000 after purchasing an additional 559 shares during the last quarter. 5.51% of the stock is owned by hedge funds and other institutional investors.

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.