Wall Street Zen Downgrades Equinor ASA (NYSE:EQNR) to Buy

Equinor ASA (NYSE:EQNR) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

EQNR has been the subject of a number of other reports. TD Cowen boosted their target price on shares of Equinor ASA from $37.00 to $38.00 and gave the company a “hold” rating in a research note on Friday, July 24th. DZ Bank raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada upgraded Equinor ASA from an “underperform” rating to a “sector perform” rating in a report on Thursday, July 23rd. Zacks Research downgraded Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Weiss Ratings raised Equinor ASA from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.20.

Equinor ASA Stock Down 0.0%

Shares of NYSE:EQNR opened at $42.84 on Friday. The firm has a market capitalization of $102.42 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 2.82 and a beta of 0.04. The business has a 50 day simple moving average of $36.81 and a two-hundred day simple moving average of $36.22. Equinor ASA has a 1 year low of $22.26 and a 1 year high of $43.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.18 and a quick ratio of 1.10.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.06). Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%.The business had revenue of $34.02 billion during the quarter, compared to analysts’ expectations of $34.03 billion. On average, equities analysts predict that Equinor ASA will post 4.93 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. lifted its stake in shares of Equinor ASA by 1,794.0% during the 4th quarter. UMB Bank n.a. now owns 1,269 shares of the company’s stock worth $30,000 after purchasing an additional 1,202 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Equinor ASA by 86.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,318 shares of the company’s stock valued at $31,000 after buying an additional 610 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Equinor ASA in the 1st quarter valued at about $35,000. Eastern Bank bought a new stake in shares of Equinor ASA in the 2nd quarter valued at about $35,000. Finally, McIlrath & Eck LLC purchased a new position in shares of Equinor ASA in the 2nd quarter worth approximately $36,000. 5.51% of the stock is currently owned by hedge funds and other institutional investors.

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.