Equinor ASA (NYSE:EQNR) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of Equinor ASA (NYSE:EQNR) from a buy rating to a strong-buy rating in a report released on Friday morning.

EQNR has been the subject of several other reports. Morgan Stanley raised Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price objective for the company in a research note on Monday, October 14th. JPMorgan Chase & Co. raised Equinor ASA from an “underweight” rating to an “overweight” rating in a research report on Monday, December 9th. Redburn Atlantic raised shares of Equinor ASA from a “neutral” rating to a “buy” rating in a report on Wednesday, November 20th. Barclays upgraded shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a report on Monday, November 25th. Finally, Berenberg Bank upgraded shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.90.

Equinor ASA Price Performance

Shares of EQNR opened at $22.29 on Friday. The business’s fifty day moving average is $23.81 and its 200 day moving average is $25.66. Equinor ASA has a 12-month low of $21.85 and a 12-month high of $32.66. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 0.51. The stock has a market cap of $62.25 billion, a P/E ratio of 6.84, a P/E/G ratio of 1.20 and a beta of 0.84.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The firm 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 period last year, the firm earned $0.92 earnings per share. Sell-side analysts anticipate that Equinor ASA will post 3.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Equinor ASA

A number of hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in shares of Equinor ASA in the third quarter valued at $1,933,000. Cetera Investment Advisers increased its holdings in Equinor ASA by 52.7% in the 2nd 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 during the last quarter. GSA Capital Partners LLP purchased a new stake in Equinor ASA in the 3rd quarter worth about $2,509,000. Truist Financial Corp raised its stake in Equinor ASA by 9.2% in the 2nd quarter. Truist Financial Corp now owns 13,900 shares of the company’s stock valued at $397,000 after acquiring an additional 1,167 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its holdings in Equinor ASA by 52.1% during the third quarter. Crossmark Global Holdings Inc. now owns 86,174 shares of the company’s stock valued at $2,183,000 after purchasing an additional 29,516 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.