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

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

A number of other equities analysts also recently commented on the company. Royal Bank Of Canada upgraded Equinor ASA from an “underperform” rating to a “sector perform” rating in a research report on Thursday. DZ Bank raised Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Pareto Securities downgraded Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 27th. Zacks Research lowered Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Rothschild & Co Redburn raised shares of Equinor ASA from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Equinor ASA currently has a consensus rating of “Hold” and an average target price of $39.20.

Equinor ASA Trading Down 1.5%

EQNR opened at $40.38 on Friday. The firm has a market capitalization of $118.91 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 2.62 and a beta of 0.06. The company’s 50 day simple moving average is $35.69 and its two-hundred day simple moving average is $33.96. 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 1.12.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Gradient Investments LLC raised its position in Equinor ASA by 1.9% in the second quarter. Gradient Investments LLC now owns 187,623 shares of the company’s stock valued at $5,891,000 after purchasing an additional 3,474 shares during the period. GAMMA Investing LLC lifted its stake in shares of Equinor ASA by 24.1% in the 2nd quarter. GAMMA Investing LLC now owns 9,033 shares of the company’s stock valued at $284,000 after purchasing an additional 1,754 shares during the last quarter. Arlington Trust Co LLC grew its holdings in shares of Equinor ASA by 1,581.9% during the 2nd quarter. Arlington Trust Co LLC now owns 2,136 shares of the company’s stock worth $67,000 after purchasing an additional 2,009 shares during the period. Eastern Bank purchased a new position in shares of Equinor ASA during the 2nd quarter worth $35,000. Finally, VectorGlobal IAG Inc. acquired a new stake in shares of Equinor ASA during the 1st quarter worth about $285,000. 5.51% of the stock is currently owned by hedge funds and other institutional investors.

Equinor ASA Company Profile

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.