Equinor ASA (NYSE:EQNR) Downgraded to “Hold” Rating by Berenberg Bank

Equinor ASA (NYSE:EQNR) was downgraded by equities researchers at Berenberg Bank from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. They currently have a $26.44 price target on the stock. Berenberg Bank’s price target would indicate a potential upside of 14.31% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. StockNews.com downgraded Equinor ASA from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. DZ Bank upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Morgan Stanley downgraded shares of Equinor ASA from an “overweight” rating to an “equal weight” rating and set a $22.70 price objective on the stock. in a research report on Monday, May 12th. HSBC raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada lowered Equinor ASA from a “sector perform” rating to an “underperform” rating in a report on Tuesday, April 22nd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.71.

Equinor ASA Stock Performance

NYSE EQNR opened at $23.13 on Tuesday. The company has a fifty day moving average of $23.85 and a two-hundred day moving average of $23.76. The company has a market capitalization of $64.60 billion, a PE ratio of 7.44, a P/E/G ratio of 0.58 and a beta of 0.58. Equinor ASA has a 1 year low of $21.41 and a 1 year high of $29.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.36.

Equinor ASA (NYSE:EQNR) last announced its earnings results on Wednesday, April 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.17). The firm had revenue of $27.14 billion during the quarter, compared to analyst estimates of $27.16 billion. Equinor ASA had a net margin of 8.49% and a return on equity of 20.33%. As a group, analysts expect that Equinor ASA will post 3.46 earnings per share for the current year.

Institutional Investors Weigh In On Equinor ASA

Institutional investors have recently added to or reduced their stakes in the business. Folketrygdfondet lifted its holdings in shares of Equinor ASA by 4.0% in the 4th quarter. Folketrygdfondet now owns 111,466,079 shares of the company’s stock valued at $2,640,631,000 after buying an additional 4,300,472 shares during the period. Marshall Wace LLP raised its position in Equinor ASA by 3,159.0% in the fourth quarter. Marshall Wace LLP now owns 2,649,389 shares of the company’s stock worth $62,764,000 after acquiring an additional 2,568,095 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in Equinor ASA by 958.7% in the fourth quarter. Voloridge Investment Management LLC now owns 1,447,536 shares of the company’s stock valued at $34,292,000 after acquiring an additional 1,310,812 shares during the period. Citigroup Inc. lifted its holdings in Equinor ASA by 8,986.2% in the first quarter. Citigroup Inc. now owns 1,260,071 shares of the company’s stock valued at $33,329,000 after acquiring an additional 1,246,203 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Equinor ASA by 771.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,015,657 shares of the company’s stock worth $24,061,000 after purchasing an additional 899,157 shares in the last quarter. Hedge funds and other institutional investors 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.