Equinor ASA (NYSE:EQNR) Stock Rating Upgraded by Barclays

Equinor ASA (NYSE:EQNR) was upgraded by Barclays from an “equal weight” rating to an “overweight” rating in a note issued to investors on Monday, Marketbeat reports.

A number of other research firms have also recently weighed in on EQNR. UBS Group raised Equinor ASA from a “sell” rating to a “neutral” rating in a report on Thursday, August 8th. Citigroup raised Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. StockNews.com cut Equinor ASA from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. Morgan Stanley raised Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price target for the company in a report on Monday, October 14th. Finally, Redburn Atlantic raised Equinor ASA from a “neutral” rating to a “buy” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.90.

Equinor ASA Stock Performance

Shares of EQNR stock opened at $23.90 on Monday. The stock has a fifty day moving average price of $24.54 and a 200 day moving average price of $26.28. The stock has a market cap of $66.73 billion, a PE ratio of 7.33, a P/E/G ratio of 5.37 and a beta of 0.84. Equinor ASA has a 1 year low of $22.15 and a 1 year high of $33.19. 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 (NYSE:EQNR) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.79 earnings per share (EPS) for the quarter, topping 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 return on equity of 19.97% and a net margin of 8.95%. During the same period in the previous year, the firm posted $0.92 earnings per share. Sell-side analysts forecast that Equinor ASA will post 3.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

Several institutional investors have recently added to or reduced their stakes in EQNR. Price T Rowe Associates Inc. MD increased its stake in Equinor ASA by 2,359.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,783,338 shares of the company’s stock valued at $183,354,000 after purchasing an additional 6,507,511 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in Equinor ASA during the third quarter valued at about $6,203,000. Manning & Napier Advisors LLC purchased a new stake in Equinor ASA during the second quarter valued at about $5,271,000. Commonwealth Equity Services LLC grew its position in Equinor ASA by 1,334.9% during the second quarter. Commonwealth Equity Services LLC now owns 176,993 shares of the company’s stock valued at $5,055,000 after acquiring an additional 164,658 shares during the period. Finally, Summit Global Investments grew its position in Equinor ASA by 290.0% during the second quarter. Summit Global Investments now owns 199,823 shares of the company’s stock valued at $5,707,000 after acquiring an additional 148,580 shares during the period. 5.51% of the stock is currently owned by institutional investors and hedge funds.

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.