HSBC Upgrades Equinor ASA (NYSE:EQNR) to Buy

Equinor ASA (NYSE:EQNR) was upgraded by research analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued on Monday,Briefing.com Automated Import reports.

A number of other research analysts have also recently weighed in on EQNR. Redburn Atlantic raised shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 20th. Danske upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating in a research report on Thursday. DZ Bank upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating in a research report on Thursday. Nordea Equity Research upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upgraded shares of Equinor ASA from an “underweight” rating to an “overweight” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Equinor ASA has a consensus rating of “Moderate Buy” and a consensus target price of $29.45.

Equinor ASA Stock Performance

NYSE EQNR traded up $0.88 during trading hours on Monday, hitting $24.43. The company had a trading volume of 6,832,359 shares, compared to its average volume of 4,203,623. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.38 and a current ratio of 1.48. Equinor ASA has a 1-year low of $21.85 and a 1-year high of $29.32. The company has a market cap of $68.21 billion, a PE ratio of 7.85, a price-to-earnings-growth ratio of 1.27 and a beta of 0.83. The business has a 50 day moving average of $23.93 and a 200-day moving average of $24.81.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.19). Equinor ASA had a net margin of 8.49% and a return on equity of 20.33%. As a group, equities research analysts expect that Equinor ASA will post 3.38 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in Equinor ASA by 10.6% in the fourth quarter. Farther Finance Advisors LLC now owns 6,173 shares of the company’s stock worth $146,000 after acquiring an additional 593 shares in the last quarter. Inspire Advisors LLC lifted its position in Equinor ASA by 10.2% during the 4th quarter. Inspire Advisors LLC now owns 23,313 shares of the company’s stock worth $552,000 after acquiring an additional 2,159 shares during the last quarter. Folketrygdfondet lifted its position in Equinor ASA by 4.0% during the 4th quarter. Folketrygdfondet now owns 111,466,079 shares of the company’s stock worth $2,640,631,000 after acquiring an additional 4,300,472 shares during the last quarter. Callan Family Office LLC acquired a new stake in shares of Equinor ASA in the fourth quarter valued at about $485,000. Finally, Raymond James Financial Inc. bought a new position in shares of Equinor ASA in the fourth quarter worth about $909,000. Institutional investors and hedge funds own 5.51% of the company’s stock.

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.