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 report issued on Tuesday morning.

A number of other analysts have also recently commented on EQNR. Citigroup raised shares of Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. Barclays raised Equinor ASA from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 25th. Berenberg Bank raised Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. upgraded Equinor ASA from an “underweight” rating to an “overweight” rating in a report on Monday, December 9th. Finally, Morgan Stanley raised Equinor ASA from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $25.80 to $30.90 in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.45.

Equinor ASA Stock Performance

Shares of Equinor ASA stock opened at $24.23 on Tuesday. The stock has a market cap of $67.66 billion, a price-to-earnings ratio of 7.43, a P/E/G ratio of 1.21 and a beta of 0.84. Equinor ASA has a twelve month low of $21.85 and a twelve month high of $29.49. The company’s fifty day moving average is $24.04 and its 200 day moving average is $25.09. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 0.51.

Equinor ASA (NYSE:EQNR) last issued 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 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 analysts’ expectations of $24.45 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Sell-side analysts forecast that Equinor ASA will post 3.29 EPS for the current year.

Institutional Investors Weigh In On Equinor ASA

Several institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of Equinor ASA during the 3rd quarter valued at $1,933,000. Cetera Investment Advisers boosted its stake in Equinor ASA by 52.7% during the second quarter. Cetera Investment Advisers now owns 69,718 shares of the company’s stock worth $1,991,000 after acquiring an additional 24,052 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Equinor ASA in the third quarter worth about $2,509,000. Truist Financial Corp increased its stake in shares of Equinor ASA by 9.2% during the second quarter. Truist Financial Corp now owns 13,900 shares of the company’s stock valued at $397,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in shares of Equinor ASA by 52.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 86,174 shares of the company’s stock worth $2,183,000 after purchasing an additional 29,516 shares in the last quarter. Hedge funds and other 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.