Royal Bank of Canada Reaffirms Sector Perform Rating for Equinor ASA (NYSE:EQNR)

Equinor ASA (NYSE:EQNR)‘s stock had its “sector perform” rating reiterated by equities research analysts at Royal Bank of Canada in a report released on Thursday,Benzinga reports.

EQNR has been the subject of several other research reports. JPMorgan Chase & Co. raised shares of Equinor ASA from an “underweight” rating to an “overweight” rating in a research note on Monday, December 9th. DZ Bank upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating in a research report on Thursday. Redburn Atlantic upgraded Equinor ASA from a “neutral” rating to a “buy” rating in a report on Wednesday, November 20th. StockNews.com lowered Equinor ASA from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Berenberg Bank raised Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.45.

Equinor ASA Price Performance

Shares of NYSE EQNR opened at $23.58 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51. The stock has a market cap of $65.84 billion, a price-to-earnings ratio of 7.23, a PEG ratio of 1.31 and a beta of 0.83. The company’s 50-day moving average price is $23.94 and its 200 day moving average price is $24.85. Equinor ASA has a 52 week low of $21.85 and a 52 week high of $29.32.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.19). Equinor ASA had a return on equity of 19.97% and a net margin of 8.95%. As a group, research analysts forecast that Equinor ASA will post 3.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Reston Wealth Management LLC bought a new position in Equinor ASA during the 3rd quarter worth $31,000. Manchester Capital Management LLC bought a new position in shares of Equinor ASA in the fourth quarter valued at $33,000. Synergy Asset Management LLC acquired a new stake in shares of Equinor ASA during the 4th quarter valued at $36,000. Bruce G. Allen Investments LLC boosted its stake 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 acquiring an additional 1,512 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Equinor ASA in the 4th quarter worth $48,000. 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.