Equinor ASA (NYSE:EQNR) Rating Increased to Overweight at JPMorgan Chase & Co.

Equinor ASA (NYSE:EQNR) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to an “overweight” rating in a research report issued on Monday, MarketBeat reports.

A number of other equities analysts also recently weighed in on the company. Morgan Stanley upgraded Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 target price on the stock in a research note on Monday, October 14th. Barclays upgraded Equinor ASA from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 25th. Citigroup upgraded Equinor ASA to a “strong sell” rating in a research note on Wednesday, October 2nd. Redburn Atlantic upgraded Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, StockNews.com upgraded Equinor ASA from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Equinor ASA has an average rating of “Moderate Buy” and an average target price of $26.90.

Equinor ASA Stock Performance

Shares of EQNR opened at $23.62 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.38 and a current ratio of 1.48. The stock has a 50 day moving average price of $24.38 and a two-hundred day moving average price of $26.00. The firm has a market capitalization of $65.97 billion, a P/E ratio of 7.25, a P/E/G ratio of 5.05 and a beta of 0.84. Equinor ASA has a 52 week low of $22.15 and a 52 week high of $32.66.

Equinor ASA (NYSE:EQNR) last announced 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. Equinor ASA had a return on equity of 19.97% and a net margin of 8.95%. The firm had revenue of $25.45 billion for the quarter, compared to the consensus estimate of $24.45 billion. During the same quarter in the previous year, the business earned $0.92 EPS. Equities analysts forecast that Equinor ASA will post 3.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Equinor ASA

Institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in shares of Equinor ASA in the third quarter worth $1,933,000. Cetera Investment Advisers increased its holdings in shares of Equinor ASA by 52.7% in the second quarter. Cetera Investment Advisers now owns 69,718 shares of the company’s stock worth $1,991,000 after purchasing an additional 24,052 shares during the period. Milestone Asset Management LLC bought a new position in shares of Equinor ASA in the second quarter worth $794,000. GSA Capital Partners LLP bought a new position in shares of Equinor ASA in the third quarter worth $2,509,000. Finally, Truist Financial Corp increased its holdings in shares of Equinor ASA by 9.2% in the second quarter. Truist Financial Corp now owns 13,900 shares of the company’s stock worth $397,000 after purchasing an additional 1,167 shares during the period. Hedge funds and other institutional investors 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.