Equinor ASA (NYSE:EQNR) Upgraded to “Buy” at Redburn Atlantic

Equinor ASA (NYSE:EQNR) was upgraded by equities research analysts at Redburn Atlantic from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, Marketbeat reports.

A number of other equities analysts also recently issued reports on EQNR. UBS Group upgraded shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research note on Thursday, August 8th. Citigroup raised Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley raised Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price target for the company in a research report on Monday, October 14th. Barclays raised Equinor ASA to a “hold” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com upgraded shares of Equinor ASA from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.90.

Equinor ASA Price Performance

Shares of EQNR stock opened at $24.91 on Wednesday. Equinor ASA has a twelve month low of $22.15 and a twelve month high of $33.24. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $24.59 and a two-hundred day simple moving average of $26.39. The stock has a market capitalization of $69.55 billion, a price-to-earnings ratio of 7.64, a P/E/G ratio of 5.15 and a beta of 0.84.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. Equinor ASA had a net margin of 8.95% and a return on equity of 19.97%. The company had revenue of $25.45 billion during the quarter, compared to analyst estimates of $24.45 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. On average, analysts predict that Equinor ASA will post 3.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

Several hedge funds and other institutional investors have recently modified their holdings of EQNR. Cetera Investment Advisers increased its stake in Equinor ASA by 52.7% during the 2nd quarter. Cetera Investment Advisers now owns 69,718 shares of the company’s stock valued at $1,991,000 after purchasing an additional 24,052 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Equinor ASA in the 3rd quarter valued at $1,933,000. Milestone Asset Management LLC purchased a new position in Equinor ASA in the 2nd quarter worth $794,000. Truist Financial Corp lifted its position in Equinor ASA by 9.2% during the 2nd quarter. Truist Financial Corp now owns 13,900 shares of the company’s stock worth $397,000 after acquiring an additional 1,167 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Equinor ASA during the 3rd quarter valued at about $2,509,000. 5.51% of the stock is owned by hedge funds and other institutional investors.

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.