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

Redburn Atlantic upgraded shares of Equinor ASA (NYSE:EQNR) from a neutral rating to a buy rating in a research report report published on Wednesday morning, Marketbeat Ratings reports.

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

Equinor ASA Price Performance

EQNR stock opened at $24.67 on Wednesday. The firm has a 50 day moving average of $24.58 and a 200-day moving average of $26.35. The firm has a market capitalization of $68.90 billion, a P/E ratio of 7.57, a price-to-earnings-growth ratio of 5.41 and a beta of 0.84. Equinor ASA has a 12 month low of $22.15 and a 12 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.

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, topping the consensus estimate of $0.74 by $0.05. The business had revenue of $25.45 billion for the quarter, compared to analysts’ expectations of $24.45 billion. Equinor ASA had a net margin of 8.95% and a return on equity of 19.97%. During the same period in the prior year, the company posted $0.92 EPS. As a group, sell-side analysts predict that Equinor ASA will post 3.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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