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

StockNews.com downgraded shares of Equinor ASA (NYSE:EQNR) from a strong-buy rating to a buy rating in a research report report published on Thursday morning.

EQNR has been the topic of several other reports. Morgan Stanley upgraded shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price target on the stock in a research report on Monday, October 14th. Redburn Atlantic raised Equinor ASA from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 20th. UBS Group raised Equinor ASA from a “sell” rating to a “neutral” rating in a report on Thursday, August 8th. Barclays upgraded Equinor ASA to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Citigroup upgraded Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.90.

Equinor ASA Trading Down 0.9 %

Shares of NYSE:EQNR opened at $24.67 on Thursday. Equinor ASA has a 52-week low of $22.15 and a 52-week high of $33.24. 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 company has a market cap of $68.90 billion, a P/E ratio of 7.57, a P/E/G ratio of 5.41 and a beta of 0.84. The stock’s 50-day moving average is $24.58 and its 200-day moving average is $26.34.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.79 EPS for the quarter, topping 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 analyst estimates of $24.45 billion. During the same period in the previous year, the company earned $0.92 earnings per share. Equities research analysts predict that Equinor ASA will post 3.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in Equinor ASA in the third quarter valued at approximately $3,685,000. Wellington Management Group LLP raised its position in shares of Equinor ASA by 3.7% during the 3rd quarter. Wellington Management Group LLP now owns 3,751,243 shares of the company’s stock valued at $95,019,000 after acquiring an additional 132,157 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Equinor ASA by 20.0% in the 3rd quarter. Stifel Financial Corp now owns 75,475 shares of the company’s stock valued at $1,912,000 after purchasing an additional 12,585 shares during the period. Quantinno Capital Management LP lifted its stake in shares of Equinor ASA by 30.0% in the 3rd quarter. Quantinno Capital Management LP now owns 37,531 shares of the company’s stock valued at $951,000 after purchasing an additional 8,663 shares during the period. Finally, IHT Wealth Management LLC boosted its position in shares of Equinor ASA by 74.5% in the 3rd quarter. IHT Wealth Management LLC now owns 27,064 shares of the company’s stock worth $693,000 after purchasing an additional 11,553 shares during the last quarter. 5.51% of the stock is currently owned by 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.