Equinor ASA (EQNR) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Equinor ASA (NYSE:EQNR) from a hold rating to a sell rating in a research report released on Friday, Zacks.com reports.

According to Zacks, “Equinor ASA operates as an energy company. It engaged in developing oil, gas, wind and solar energy projects and focuses on offshore operations and exploration services. Equinor ASA, formerly known as Statoil ASA, is based in Norway, Europe. “

Several other equities research analysts also recently issued reports on the stock. Pareto Securities raised shares of Equinor ASA from a hold rating to a buy rating in a research report on Monday, February 25th. Macquarie downgraded shares of Equinor ASA from an outperform rating to a neutral rating in a research report on Thursday, February 14th. Piper Jaffray Companies downgraded shares of Equinor ASA from an overweight rating to a neutral rating in a research report on Monday, February 11th. Credit Suisse Group downgraded shares of Equinor ASA from a neutral rating to an underperform rating in a research report on Wednesday, January 23rd. Finally, Goldman Sachs Group downgraded shares of Equinor ASA from a neutral rating to a sell rating in a research report on Thursday, December 13th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $26.36.



Shares of EQNR stock opened at $23.09 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.57 and a debt-to-equity ratio of 0.54. Equinor ASA has a 12-month low of $19.95 and a 12-month high of $28.93. The firm has a market cap of $76.73 billion, a PE ratio of 11.43 and a beta of 0.91.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings data on Tuesday, February 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.06). Equinor ASA had a return on equity of 15.88% and a net margin of 9.47%. The company had revenue of $22.44 billion for the quarter. On average, research analysts anticipate that Equinor ASA will post 1.74 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC bought a new position in Equinor ASA in the fourth quarter valued at $12,572,000. Putnam FL Investment Management Co. grew its position in Equinor ASA by 22.1% in the fourth quarter. Putnam FL Investment Management Co. now owns 189,504 shares of the company’s stock valued at $4,012,000 after purchasing an additional 34,289 shares in the last quarter. Morgan Stanley grew its position in Equinor ASA by 5.2% in the third quarter. Morgan Stanley now owns 229,851 shares of the company’s stock valued at $6,482,000 after purchasing an additional 11,375 shares in the last quarter. Marshall Wace North America L.P. bought a new position in Equinor ASA in the third quarter valued at $8,773,000. Finally, Legacy Financial Advisors Inc. grew its position in Equinor ASA by 8,963.3% in the fourth quarter. Legacy Financial Advisors Inc. now owns 2,719 shares of the company’s stock valued at $58,000 after purchasing an additional 2,689 shares in the last quarter. 5.45% of the stock is owned by institutional investors and hedge funds.

About Equinor ASA

Equinor ASA, an energy company, explores for, produces, transports, refines, and markets petroleum and petroleum-derived products, and other forms of energy in Norway and internationally. The company operates through Development & Production Norway; Development & Production Brazil; Development & Production International; Marketing, Midstream & Processing; New Energy Solutions; Technology, Projects & Drilling; Exploration; and Global Strategy & Business Development segments.

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