Equinor ASA (NYSE:EQNR) Stock Rating Upgraded by Wall Street Zen

Equinor ASA (NYSE:EQNR) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts have also recently weighed in on the company. Pareto Securities cut Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. DZ Bank upgraded Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Rothschild & Co Redburn raised Equinor ASA from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 9th. Zacks Research cut shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, TD Cowen lifted their price target on shares of Equinor ASA from $37.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.20.

Equinor ASA Stock Up 0.1%

Shares of NYSE:EQNR opened at $40.38 on Friday. The firm has a market capitalization of $118.91 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 2.70 and a beta of 0.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.10 and a current ratio of 1.18. Equinor ASA has a 52-week low of $22.26 and a 52-week high of $43.46. The firm has a fifty day moving average of $35.69 and a 200 day moving average of $34.03.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). Equinor ASA had a net margin of 7.92% and a return on equity of 23.60%. The firm had revenue of $34.02 billion for the quarter, compared to analysts’ expectations of $34.03 billion. As a group, research analysts anticipate that Equinor ASA will post 4.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Equinor ASA

Several institutional investors have recently added to or reduced their stakes in EQNR. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Equinor ASA during the fourth quarter worth about $4,734,000. DJE Kapital AG bought a new stake in shares of Equinor ASA in the first quarter worth about $2,913,000. QRG Capital Management Inc. grew its stake in shares of Equinor ASA by 38.5% in the fourth quarter. QRG Capital Management Inc. now owns 125,044 shares of the company’s stock worth $2,955,000 after purchasing an additional 34,757 shares during the last quarter. Gibbs Wealth Management purchased a new position in Equinor ASA during the 1st quarter valued at about $1,189,000. Finally, Jennison Associates LLC purchased a new position in Equinor ASA during the 1st quarter valued at about $8,582,000. Hedge funds and other institutional investors own 5.51% of the company’s stock.

About Equinor ASA

Equinor ASA (NYSE: EQNR) is a Norway-based integrated energy company headquartered in Stavanger. Historically established as Statoil in the 1970s to develop Norway’s petroleum resources, the company changed its name to Equinor in 2018 to reflect a strategic shift toward a broader energy portfolio. Equinor’s operations span the full upstream value chain, including exploration, development and production of oil and natural gas, alongside trading and marketing activities that support its global commercial operations.

In recent years Equinor has pursued a transition strategy that combines continued development of conventional oil and gas resources with growing investments in low‑carbon energy.