Redburn Atlantic Upgrades Equinor ASA (NYSE:EQNR) to “Buy”

Redburn Atlantic upgraded shares of Equinor ASA (NYSE:EQNR) from a neutral rating to a buy rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports.

A number of other research analysts have also weighed in on EQNR. UBS Group upgraded Equinor ASA from a “sell” rating to a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley raised shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price objective on the stock in a report on Monday, October 14th. Barclays upgraded shares of Equinor ASA to a “hold” rating in a report on Wednesday, October 2nd. Citigroup upgraded shares of Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, StockNews.com upgraded shares of Equinor ASA from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $26.90.

Equinor ASA Stock Performance

Shares of EQNR stock opened at $24.67 on Wednesday. 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 firm has a fifty day simple moving average of $24.58 and a two-hundred day simple moving average of $26.35. Equinor ASA has a 12 month low of $22.15 and a 12 month high of $33.24. The firm has a market capitalization of $68.90 billion, a PE ratio of 7.57, a price-to-earnings-growth ratio of 5.41 and a beta of 0.84.

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

Institutional Trading of Equinor ASA

Hedge funds have recently added to or reduced their stakes in the stock. Atwood & Palmer Inc. purchased a new stake in shares of Equinor ASA during the 2nd quarter worth approximately $25,000. Reston Wealth Management LLC bought a new position in Equinor ASA during the third quarter valued at $31,000. Rothschild Investment LLC purchased a new stake in Equinor ASA in the second quarter worth $32,000. EverSource Wealth Advisors LLC lifted its position in shares of Equinor ASA by 27.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock valued at $45,000 after buying an additional 365 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted 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 valued at $49,000 after buying an additional 1,512 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.