Equinor ASA (NYSE:EQNR) Rating Lowered to “Buy” at StockNews.com

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

EQNR has been the subject of several other reports. JPMorgan Chase & Co. upgraded shares of Equinor ASA from an “underweight” rating to an “overweight” rating in a report on Monday, December 9th. Citigroup upgraded Equinor ASA to a “strong sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised Equinor ASA from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $25.80 to $30.90 in a research note on Tuesday, January 7th. Barclays raised Equinor ASA from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 25th. Finally, Redburn Atlantic upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.45.

Equinor ASA Price Performance

Shares of EQNR stock opened at $24.94 on Tuesday. 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 has a fifty-two week low of $21.85 and a fifty-two week high of $29.49. The firm has a market cap of $69.65 billion, a P/E ratio of 7.65, a P/E/G ratio of 1.31 and a beta of 0.84. The business’s 50 day moving average price is $23.93 and its 200-day moving average price is $25.16.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $24.45 billion. During the same quarter in the previous year, the business posted $0.92 earnings per share. On average, equities research analysts anticipate that Equinor ASA will post 3.36 earnings per share for the current year.

Hedge Funds Weigh In On Equinor ASA

A number of hedge funds have recently bought and sold shares of EQNR. Reston Wealth Management LLC purchased a new position in Equinor ASA in the 3rd quarter worth approximately $31,000. EverSource Wealth Advisors LLC raised its stake in shares of Equinor ASA by 27.1% in 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 last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Equinor ASA by 363.5% in the third quarter. Bruce G. Allen Investments LLC now owns 1,928 shares of the company’s stock worth $49,000 after purchasing an additional 1,512 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Equinor ASA during the fourth quarter valued at $61,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Equinor ASA by 12.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,804 shares of the company’s stock valued at $122,000 after buying an additional 543 shares during the last quarter. Institutional investors own 5.51% of the company’s stock.

About Equinor ASA

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.