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

Equinor ASA (NYSE:EQNR) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday.

Other equities analysts also recently issued research reports about the company. TD Cowen cut their target price on Equinor ASA from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, July 10th. Citigroup upgraded Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. UBS Group upgraded Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Thursday, August 8th. Morgan Stanley upgraded Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 target price for the company in a research report on Monday, October 14th. Finally, Barclays raised Equinor ASA to a “hold” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.90.

Equinor ASA Stock Performance

EQNR traded up $0.05 during midday trading on Tuesday, reaching $23.61. The company’s stock had a trading volume of 4,484,369 shares, compared to its average volume of 3,322,561. The stock has a market cap of $65.94 billion, a P/E ratio of 7.24, a PEG ratio of 5.13 and a beta of 0.84. The company has a fifty day simple moving average of $25.13 and a 200 day simple moving average of $26.69. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51. Equinor ASA has a twelve month low of $23.24 and a twelve month high of $33.91.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.05. Equinor ASA had a return on equity of 19.97% and a net margin of 8.95%. The company had revenue of $25.45 billion for the quarter, compared to analyst estimates of $24.45 billion. During the same quarter last year, the firm earned $0.92 EPS. Research analysts expect that Equinor ASA will post 3.26 earnings per share for the current year.

Institutional Trading of Equinor ASA

Several institutional investors and hedge funds have recently bought and sold shares of EQNR. Price T Rowe Associates Inc. MD lifted its holdings in Equinor ASA by 2,359.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,783,338 shares of the company’s stock worth $183,354,000 after buying an additional 6,507,511 shares during the period. Earnest Partners LLC boosted its stake in Equinor ASA by 4.5% in the 1st quarter. Earnest Partners LLC now owns 3,865,504 shares of the company’s stock worth $104,485,000 after purchasing an additional 166,131 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Equinor ASA by 1.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 862,570 shares of the company’s stock valued at $24,635,000 after acquiring an additional 11,500 shares in the last quarter. Cambiar Investors LLC raised its holdings in shares of Equinor ASA by 3.9% during the 2nd quarter. Cambiar Investors LLC now owns 572,243 shares of the company’s stock valued at $16,343,000 after buying an additional 21,469 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Equinor ASA by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 479,848 shares of the company’s stock worth $13,704,000 after acquiring an additional 2,894 shares during the last quarter. Institutional investors 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.