Morgan Stanley Lowers Equinor ASA (NYSE:EQNR) Price Target to $28.20

Equinor ASA (NYSE:EQNR) had its target price reduced by equities researchers at Morgan Stanley from $30.90 to $28.20 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 13.98% from the company’s current price.

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. Redburn Atlantic raised shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 20th. Nordea Equity Research raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Hsbc Global Res raised shares of Equinor ASA to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Barclays raised shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Equinor ASA currently has a consensus rating of “Moderate Buy” and an average price target of $28.10.

Equinor ASA Stock Up 0.2 %

EQNR opened at $24.74 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.36. The company’s 50-day moving average is $23.90 and its 200 day moving average is $24.17. Equinor ASA has a fifty-two week low of $21.85 and a fifty-two week high of $29.32. The firm has a market capitalization of $69.10 billion, a P/E ratio of 7.96, a PEG ratio of 0.58 and a beta of 0.79.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.19). Equinor ASA had a return on equity of 20.33% and a net margin of 8.49%. Research analysts expect that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Equinor ASA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in Equinor ASA by 62.0% in the 3rd quarter. Empowered Funds LLC now owns 109,730 shares of the company’s stock worth $2,779,000 after purchasing an additional 41,981 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Equinor ASA in the 3rd quarter worth about $432,000. Advisors Asset Management Inc. grew its position in shares of Equinor ASA by 13.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 108,347 shares of the company’s stock worth $2,744,000 after buying an additional 13,179 shares during the period. John G Ullman & Associates Inc. grew its position in Equinor ASA by 18.7% during the 3rd quarter. John G Ullman & Associates Inc. now owns 46,050 shares of the company’s stock valued at $1,166,000 after purchasing an additional 7,250 shares during the last quarter. Finally, Cerity Partners LLC grew its position in Equinor ASA by 28.7% during the 3rd quarter. Cerity Partners LLC now owns 26,009 shares of the company’s stock valued at $659,000 after purchasing an additional 5,804 shares during the last quarter. 5.51% of the stock is currently owned by institutional investors.

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.