Equinor ASA (NYSE:EQNR) Upgraded to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Equinor ASA (NYSE:EQNR) from an underweight rating to an overweight rating in a research report report published on Monday, MarketBeat.com reports.

A number of other equities research analysts have also recently issued reports on EQNR. Citigroup raised Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. Redburn Atlantic raised shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 20th. Barclays upgraded Equinor ASA from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 25th. StockNews.com upgraded Equinor ASA from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 29th. 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 report on Monday, October 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Equinor ASA presently has a consensus rating of “Moderate Buy” and an average price target of $26.90.

Equinor ASA Stock Performance

EQNR stock opened at $23.81 on Monday. The firm has a 50 day simple moving average of $24.38 and a 200 day simple moving average of $26.00. Equinor ASA has a 52 week low of $22.15 and a 52 week high of $32.66. The stock has a market cap of $66.50 billion, a P/E ratio of 7.30, a P/E/G ratio of 5.05 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.38 and a current ratio of 1.48.

Equinor ASA (NYSE:EQNR) last issued its earnings results on Thursday, October 24th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The firm had revenue of $25.45 billion for the quarter, compared to the consensus estimate of $24.45 billion. Equinor ASA had a return on equity of 19.97% and a net margin of 8.95%. During the same quarter in the previous year, the company posted $0.92 earnings per share. Research analysts anticipate that Equinor ASA will post 3.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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