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 published on Friday.

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

Equinor ASA Trading Up 0.2 %

Equinor ASA stock opened at $22.29 on Friday. Equinor ASA has a 52 week low of $21.85 and a 52 week high of $32.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.38 and a current ratio of 1.48. The firm has a market capitalization of $62.25 billion, a price-to-earnings ratio of 6.84, a P/E/G ratio of 1.20 and a beta of 0.84. The company has a 50 day moving average price of $23.81 and a 200 day moving average price of $25.67.

Equinor ASA (NYSE:EQNR) last issued its earnings results on Thursday, October 24th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.74 by $0.05. The business had revenue of $25.45 billion during the quarter, compared to analysts’ expectations of $24.45 billion. Equinor ASA had a return on equity of 19.97% and a net margin of 8.95%. During the same quarter last year, the firm posted $0.92 earnings per share. Research analysts forecast that Equinor ASA will post 3.35 EPS for the current year.

Hedge Funds Weigh In On Equinor ASA

A number of institutional investors and hedge funds have recently bought and sold shares of EQNR. Mediolanum International Funds Ltd bought a new position in Equinor ASA during the third quarter valued at about $6,203,000. Commonwealth Equity Services LLC increased its position in shares of Equinor ASA by 1,334.9% during the second quarter. Commonwealth Equity Services LLC now owns 176,993 shares of the company’s stock valued at $5,055,000 after purchasing an additional 164,658 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Equinor ASA in the third quarter valued at $3,685,000. Cambridge Investment Research Advisors Inc. lifted its position in Equinor ASA by 401.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 172,737 shares of the company’s stock worth $4,933,000 after purchasing an additional 138,273 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Equinor ASA by 3.7% during the third quarter. Wellington Management Group LLP now owns 3,751,243 shares of the company’s stock worth $95,019,000 after buying an additional 132,157 shares in 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.