Equinor ASA (NYSE:EQNR) Lifted to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Equinor ASA (NYSE:EQNR) from a buy rating to a strong-buy rating in a research note released on Monday morning.

Separately, TD Cowen assumed coverage on shares of Equinor ASA in a report on Wednesday, April 24th. They issued a hold rating and a $28.00 price objective for the company. Three analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Equinor ASA presently has a consensus rating of Hold and a consensus price target of $28.25.

Equinor ASA Stock Performance

Shares of EQNR opened at $26.71 on Monday. The company has a quick ratio of 1.76, a current ratio of 1.88 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average price is $28.10 and its 200-day moving average price is $27.86. Equinor ASA has a 52 week low of $24.44 and a 52 week high of $34.73. The stock has a market cap of $78.64 billion, a P/E ratio of 8.27, a P/E/G ratio of 3.70 and a beta of 0.84.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.18. Equinor ASA had a return on equity of 19.67% and a net margin of 9.30%. The firm had revenue of $25.14 billion for the quarter, compared to analysts’ expectations of $25.03 billion. Equities research analysts anticipate that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Equinor ASA

A number of hedge funds have recently added to or reduced their stakes in EQNR. Atwood & Palmer Inc. purchased a new stake in Equinor ASA during the 2nd quarter valued at $25,000. Principal Securities Inc. purchased a new stake in Equinor ASA during the 4th quarter valued at $30,000. EverSource Wealth Advisors LLC raised its stake in Equinor ASA by 136.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,090 shares of the company’s stock valued at $34,000 after buying an additional 629 shares during the last quarter. Avalon Trust Co purchased a new stake in Equinor ASA during the 4th quarter valued at $41,000. Finally, Princeton Global Asset Management LLC purchased a new stake in Equinor ASA during the 4th quarter valued at $43,000. 5.51% of the stock is currently owned by hedge funds and other institutional investors.

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.