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

Equinor ASA (NYSE:EQNR) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Other analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of Equinor ASA from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Morgan Stanley raised shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $40.40 target price for the company in a report on Tuesday, March 24th. UBS Group upgraded shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Friday, March 20th. Rothschild & Co Redburn raised shares of Equinor ASA from a “strong sell” rating to a “hold” rating in a report on Thursday, April 9th. Finally, Zacks Research downgraded Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $38.70.

Equinor ASA Stock Down 0.1%

Shares of EQNR stock opened at $32.01 on Friday. Equinor ASA has a fifty-two week low of $22.26 and a fifty-two week high of $43.46. The firm has a market capitalization of $94.27 billion, a PE ratio of 14.68, a P/E/G ratio of 2.07 and a beta of 0.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.24. The stock’s 50-day simple moving average is $36.38 and its 200-day simple moving average is $32.57.

Equinor ASA (NYSE:EQNR) last issued its earnings results on Tuesday, May 5th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.47. Equinor ASA had a return on equity of 20.01% and a net margin of 5.30%.The firm had revenue of $28.40 billion for the quarter, compared to analyst estimates of $28.73 billion. Equities analysts expect that Equinor ASA will post 4.93 earnings per share for the current year.

Institutional Investors Weigh In On Equinor ASA

Hedge funds and other institutional investors have recently made changes to their positions in the company. Eastern Bank acquired a new position in shares of Equinor ASA in the 2nd quarter valued at $35,000. VectorGlobal IAG Inc. purchased a new stake in Equinor ASA during the first quarter worth $285,000. Cozad Asset Management Inc. acquired a new stake in Equinor ASA during the first quarter valued at $358,000. Glenmede Trust Co. NA purchased a new position in Equinor ASA in the first quarter valued at $223,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Equinor ASA by 35.2% in the first quarter. EverSource Wealth Advisors LLC now owns 5,357 shares of the company’s stock valued at $226,000 after buying an additional 1,396 shares in the last quarter. Institutional investors and hedge funds 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.