Equinor ASA (NYSE:EQNR) Rating Increased to Strong-Buy at Berenberg Bank

Equinor ASA (NYSE:EQNR) was upgraded by stock analysts at Berenberg Bank from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research analysts also recently weighed in on EQNR. Barclays raised Equinor ASA from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 25th. UBS Group raised shares of Equinor ASA from a “sell” rating to a “neutral” rating in a report on Thursday, August 8th. Citigroup upgraded shares of Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. Morgan Stanley upgraded shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price target for the company in a report on Monday, October 14th. Finally, Redburn Atlantic raised Equinor ASA from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Equinor ASA has an average rating of “Moderate Buy” and a consensus price target of $26.90.

Equinor ASA Stock Down 0.7 %

EQNR opened at $24.19 on Wednesday. The company has a market capitalization of $67.56 billion, a PE ratio of 7.42, a price-to-earnings-growth ratio of 5.30 and a beta of 0.84. The business has a 50-day moving average of $24.50 and a 200-day moving average of $26.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.38. Equinor ASA has a fifty-two week low of $22.15 and a fifty-two week high of $32.66.

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

Institutional Trading of Equinor ASA

Several hedge funds and other institutional investors have recently bought and sold shares of EQNR. Wellington Management Group LLP raised its position in shares of Equinor ASA by 3.7% during the third quarter. Wellington Management Group LLP now owns 3,751,243 shares of the company’s stock valued at $95,019,000 after buying an additional 132,157 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Equinor ASA by 1.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 862,570 shares of the company’s stock valued at $24,635,000 after acquiring an additional 11,500 shares in the last quarter. Cambiar Investors LLC raised its holdings in Equinor ASA by 3.9% in the 2nd quarter. Cambiar Investors LLC now owns 572,243 shares of the company’s stock valued at $16,343,000 after acquiring an additional 21,469 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Equinor ASA by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 522,763 shares of the company’s stock worth $13,242,000 after acquiring an additional 16,303 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Equinor ASA by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 479,848 shares of the company’s stock worth $13,704,000 after purchasing an additional 2,894 shares in the last quarter. 5.51% of the stock is currently owned by institutional investors and hedge funds.

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.