Equinor ASA (NYSE:EQNR) Upgraded to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Equinor ASA (NYSE:EQNR) from an underweight rating to an overweight rating in a research report report published on Monday morning, MarketBeat.com reports.

A number of other research analysts have also weighed in on the stock. Citigroup raised shares of Equinor ASA to a “strong sell” rating in a research note on Wednesday, October 2nd. Berenberg Bank raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Redburn Atlantic upgraded Equinor ASA from a “neutral” rating to a “buy” rating in a report on Wednesday, November 20th. StockNews.com upgraded Equinor ASA from a “buy” rating to a “strong-buy” rating in a report on Friday, November 29th. Finally, Morgan Stanley raised Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price objective for the company in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.90.

Equinor ASA Price Performance

Shares of EQNR stock opened at $23.81 on Monday. The firm has a market capitalization of $66.50 billion, a price-to-earnings ratio of 7.30, a price-to-earnings-growth ratio of 5.05 and a beta of 0.84. Equinor ASA has a 12-month low of $22.15 and a 12-month high of $32.66. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average of $24.38 and a 200-day moving average of $26.00.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its position in Equinor ASA by 27.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock worth $45,000 after acquiring an additional 365 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Equinor ASA by 0.7% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 56,658 shares of the company’s stock valued at $1,618,000 after purchasing an additional 402 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Equinor ASA by 2.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,810 shares of the company’s stock valued at $480,000 after purchasing an additional 440 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Equinor ASA by 12.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,804 shares of the company’s stock valued at $122,000 after purchasing an additional 543 shares during the last quarter. Finally, Profund Advisors LLC grew its holdings in Equinor ASA by 3.0% during the second quarter. Profund Advisors LLC now owns 19,260 shares of the company’s stock worth $550,000 after purchasing an additional 559 shares during the period. 5.51% of the stock is owned by institutional investors and hedge funds.

About Equinor ASA

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.