Equinor ASA (EQNR) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research cut shares of Equinor ASA (NYSE:EQNR) from a hold rating to a sell rating in a research report released on Friday morning, Zacks.com reports.

According to Zacks, “Equinor ASA operates as an energy company. It engaged in developing oil, gas, wind and solar energy projects and focuses on offshore operations and exploration services. Equinor ASA, formerly known as Statoil ASA, is based in Norway, Europe. “

Several other brokerages have also recently weighed in on EQNR. Goldman Sachs Group cut shares of Equinor ASA from a neutral rating to a sell rating in a research note on Thursday, December 13th. Credit Suisse Group cut shares of Equinor ASA from a neutral rating to an underperform rating in a research note on Wednesday, January 23rd. Pareto Securities cut shares of Equinor ASA from a hold rating to a sell rating in a research note on Thursday, December 13th. Piper Jaffray Companies cut shares of Equinor ASA from an overweight rating to a neutral rating in a research note on Monday, February 11th. Finally, Macquarie cut shares of Equinor ASA from an outperform rating to a neutral rating in a research note on Thursday, February 14th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Equinor ASA has a consensus rating of Hold and an average price target of $26.36.

Shares of Equinor ASA stock opened at $23.09 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.44 and a debt-to-equity ratio of 0.54. The stock has a market cap of $76.73 billion, a price-to-earnings ratio of 11.43 and a beta of 0.91. Equinor ASA has a 1-year low of $19.95 and a 1-year high of $28.93.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings data on Tuesday, February 5th. The company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.06). The firm had revenue of $22.44 billion for the quarter. Equinor ASA had a return on equity of 15.88% and a net margin of 9.47%. As a group, equities analysts anticipate that Equinor ASA will post 1.74 EPS for the current year.

Several hedge funds have recently made changes to their positions in EQNR. FMR LLC lifted its position in shares of Equinor ASA by 27.1% during the fourth quarter. FMR LLC now owns 15,848,335 shares of the company’s stock worth $335,510,000 after purchasing an additional 3,374,607 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Equinor ASA during the fourth quarter worth approximately $12,572,000. Deutsche Bank AG lifted its position in shares of Equinor ASA by 146.5% during the fourth quarter. Deutsche Bank AG now owns 780,595 shares of the company’s stock worth $16,525,000 after purchasing an additional 463,946 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Equinor ASA during the fourth quarter worth approximately $8,228,000. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Equinor ASA by 1,196.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 385,473 shares of the company’s stock worth $8,160,000 after purchasing an additional 355,740 shares in the last quarter. Institutional investors own 5.45% of the company’s stock.

About Equinor ASA

Equinor ASA, an energy company, explores for, produces, transports, refines, and markets petroleum and petroleum-derived products, and other forms of energy in Norway and internationally. The company operates through Development & Production Norway; Development & Production Brazil; Development & Production International; Marketing, Midstream & Processing; New Energy Solutions; Technology, Projects & Drilling; Exploration; and Global Strategy & Business Development segments.

Further Reading: Commodities

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