Equinor ASA (NYSE:EQNR) Rating Increased to Strong-Buy at Berenberg Bank

Berenberg Bank upgraded shares of Equinor ASA (NYSE:EQNR) from a hold rating to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.

EQNR has been the topic of several other research reports. StockNews.com raised shares of Equinor ASA from a “buy” rating to a “strong-buy” rating in a report on Friday. Redburn Atlantic upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 20th. Citigroup raised shares of Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. UBS Group upgraded shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, Barclays raised Equinor ASA from an “equal weight” rating to an “overweight” rating in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.90.

Equinor ASA Stock Performance

EQNR opened at $24.18 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average price is $24.50 and its two-hundred day moving average price is $26.20. The firm has a market capitalization of $67.53 billion, a P/E ratio of 7.42, a price-to-earnings-growth ratio of 5.30 and a beta of 0.84. Equinor ASA has a 12-month low of $22.15 and a 12-month high of $32.66.

Equinor ASA (NYSE:EQNR) last released its earnings results on Thursday, October 24th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. The firm had revenue of $25.45 billion during the quarter, compared to analysts’ expectations of $24.45 billion. Equinor ASA had a net margin of 8.95% and a return on equity of 19.97%. During the same period in the prior year, the company earned $0.92 EPS. On average, equities analysts forecast that Equinor ASA will post 3.31 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in shares of Equinor ASA by 3.7% in 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. Teachers Retirement System of The State of Kentucky raised its stake in Equinor ASA by 1.4% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 862,570 shares of the company’s stock worth $24,635,000 after buying an additional 11,500 shares during the period. Cambiar Investors LLC lifted its holdings in Equinor ASA by 3.9% during the second quarter. Cambiar Investors LLC now owns 572,243 shares of the company’s stock worth $16,343,000 after acquiring an additional 21,469 shares in the last quarter. Fisher Asset Management LLC grew its stake in Equinor ASA by 3.2% in the third quarter. Fisher Asset Management LLC now owns 522,763 shares of the company’s stock valued at $13,242,000 after acquiring an additional 16,303 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Equinor ASA by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 479,848 shares of the company’s stock worth $13,704,000 after acquiring an additional 2,894 shares in the last quarter. 5.51% of the stock is currently owned by institutional investors and hedge funds.

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.