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

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

Several other research analysts have also recently weighed in on the stock. Citigroup upgraded shares of Equinor ASA to a “strong sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley upgraded shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price target on the stock in a research note on Monday, October 14th. Barclays upgraded shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 25th. UBS Group upgraded shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, Redburn Atlantic upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.90.

Equinor ASA Price Performance

Shares of EQNR opened at $24.19 on Friday. The company has a market capitalization of $67.56 billion, a P/E ratio of 7.42, a price-to-earnings-growth ratio of 5.30 and a beta of 0.84. 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 firm has a 50 day moving average of $24.50 and a 200 day moving average of $26.22. Equinor ASA has a twelve month low of $22.15 and a twelve month high of $32.66.

Equinor ASA (NYSE:EQNR) last issued its earnings results on Thursday, October 24th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.05. Equinor ASA had a net margin of 8.95% and a return on equity of 19.97%. The company had revenue of $25.45 billion for the quarter, compared to analysts’ expectations of $24.45 billion. During the same quarter last year, the company posted $0.92 earnings per share. As a group, equities research analysts anticipate that Equinor ASA will post 3.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Mediolanum International Funds Ltd acquired a new stake in shares of Equinor ASA in the third quarter worth $6,203,000. Manning & Napier Advisors LLC acquired a new stake in shares of Equinor ASA in the second quarter worth $5,271,000. Commonwealth Equity Services LLC increased its stake in shares of Equinor ASA by 1,334.9% in the second quarter. Commonwealth Equity Services LLC now owns 176,993 shares of the company’s stock worth $5,055,000 after acquiring an additional 164,658 shares during the period. Summit Global Investments increased its stake in shares of Equinor ASA by 290.0% in the second quarter. Summit Global Investments now owns 199,823 shares of the company’s stock worth $5,707,000 after acquiring an additional 148,580 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Equinor ASA in the third quarter worth $3,685,000. Institutional investors and hedge funds 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.