Equinor ASA (NYSE:EQNR) Raised to Sector Perform at Royal Bank Of Canada

Equinor ASA (NYSE:EQNR) was upgraded by analysts at Royal Bank Of Canada from an “underperform” rating to a “sector perform” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports.

A number of other research analysts also recently weighed in on the company. Wall Street Zen downgraded Equinor ASA from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. TD Cowen lowered their price target on Equinor ASA from $42.00 to $37.00 and set a “hold” rating on the stock in a report on Monday, June 29th. Zacks Research lowered shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Pareto Securities cut shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 27th. Finally, 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. One 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $39.20.

Equinor ASA Trading Down 1.5%

Equinor ASA stock opened at $40.38 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.18 and a quick ratio of 1.12. The company has a market capitalization of $118.91 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 2.62 and a beta of 0.06. Equinor ASA has a one year low of $22.26 and a one year high of $43.46. The company’s fifty day moving average price is $35.69 and its two-hundred day moving average price is $33.96.

Equinor ASA (NYSE:EQNR) last announced 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). The company had revenue of $34.02 billion during the quarter, compared to analyst estimates of $34.03 billion. Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%. On average, analysts forecast that Equinor ASA will post 4.85 earnings per share for the current fiscal year.

Institutional Trading of Equinor ASA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in Equinor ASA by 30.2% during the third quarter. Bank of America Corp DE now owns 15,759,942 shares of the company’s stock worth $384,227,000 after purchasing an additional 3,659,611 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Equinor ASA by 599.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,966,671 shares of the company’s stock valued at $547,194,000 after purchasing an additional 11,112,362 shares during the period. Morgan Stanley raised its holdings in shares of Equinor ASA by 5.6% in the 4th quarter. Morgan Stanley now owns 9,250,933 shares of the company’s stock worth $218,600,000 after buying an additional 493,801 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of Equinor ASA by 10.3% in the 4th quarter. Earnest Partners LLC now owns 4,288,512 shares of the company’s stock worth $101,338,000 after buying an additional 401,424 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Equinor ASA by 0.7% in the 3rd quarter. Wellington Management Group LLP now owns 3,852,448 shares of the company’s stock worth $93,923,000 after buying an additional 25,250 shares in the last quarter. Institutional investors own 5.51% of the company’s stock.

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.