Equinor ASA (NYSE:EQNR) Upgraded to “Hold” by Barclays

Equinor ASA (NYSE:EQNR) was upgraded by analysts at Barclays to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

Several other research firms have also commented on EQNR. StockNews.com lowered Equinor ASA from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 29th. UBS Group upgraded Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Thursday, August 8th. Morgan Stanley lowered Equinor ASA from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $30.50 to $25.80 in a research report on Thursday, August 29th. Finally, TD Cowen lowered their price objective on Equinor ASA from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, July 10th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Equinor ASA currently has a consensus rating of “Hold” and an average price target of $26.90.

Equinor ASA Price Performance

Shares of NYSE:EQNR opened at $26.75 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.43 and a debt-to-equity ratio of 0.53. Equinor ASA has a twelve month low of $24.02 and a twelve month high of $34.73. The company’s 50 day moving average is $26.10 and its 200 day moving average is $27.12. The company has a market cap of $78.77 billion, a PE ratio of 8.28, a price-to-earnings-growth ratio of 3.45 and a beta of 0.83.

Equinor ASA (NYSE:EQNR) last posted its earnings results on Wednesday, July 24th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $25.54 billion during the quarter, compared to the consensus estimate of $25.93 billion. Equinor ASA had a net margin of 9.11% and a return on equity of 20.65%. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, sell-side analysts forecast that Equinor ASA will post 3.3 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EQNR. Atwood & Palmer Inc. purchased a new position in Equinor ASA in the 2nd quarter valued at $25,000. Rothschild Investment LLC purchased a new position in Equinor ASA in the 2nd quarter valued at $32,000. EverSource Wealth Advisors LLC lifted its holdings in Equinor ASA by 27.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock valued at $45,000 after purchasing an additional 365 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Equinor ASA in the 2nd quarter valued at $51,000. Finally, GAMMA Investing LLC lifted its holdings in Equinor ASA by 44.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,142 shares of the company’s stock valued at $61,000 after purchasing an additional 663 shares in the last quarter. Hedge funds and other institutional investors own 5.51% of the company’s stock.

Equinor ASA Company Profile

Equinor ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and other forms of energy in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; Renewables; and Other segments.