Equinor ASA (NYSE:EQNR) Upgraded to Buy at Redburn Atlantic

Redburn Atlantic upgraded shares of Equinor ASA (NYSE:EQNR) from a neutral rating to a buy rating in a research report released on Wednesday, Marketbeat Ratings reports.

Several other research firms also recently commented on EQNR. Citigroup upgraded Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Equinor ASA from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 5th. UBS Group raised shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Thursday, August 8th. Barclays upgraded shares of Equinor ASA to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley raised shares of 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Equinor ASA presently has an average rating of “Hold” and an average target price of $26.90.

Equinor ASA Stock Up 3.7 %

Shares of EQNR opened at $24.55 on Wednesday. The firm has a fifty day moving average price of $24.59 and a 200-day moving average price of $26.40. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $68.55 billion, a P/E ratio of 7.53, a P/E/G ratio of 5.15 and a beta of 0.84. Equinor ASA has a 12-month low of $22.15 and a 12-month high of $33.24.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.05. The company had revenue of $25.45 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $0.92 EPS. Equities research analysts expect that Equinor ASA will post 3.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Atwood & Palmer Inc. purchased a new stake in Equinor ASA in the second quarter valued at $25,000. Rothschild Investment LLC purchased a new stake in shares of Equinor ASA in the second quarter worth about $32,000. Reston Wealth Management LLC acquired a new stake in Equinor ASA during the third quarter worth about $31,000. EverSource Wealth Advisors LLC raised its position in Equinor ASA by 27.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock valued at $45,000 after acquiring an additional 365 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Equinor ASA in the 2nd quarter worth approximately $51,000. Hedge funds and other 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.