Zacks Investment Research Lowers Equinor ASA (NYSE:EQNR) to Strong Sell

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Zacks Investment Research lowered shares of Equinor ASA (NYSE:EQNR) from a hold rating to a strong sell rating in a research report report published on Saturday 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. “

A number of other research analysts have also commented on EQNR. ValuEngine lowered Equinor ASA from a hold rating to a sell rating in a report on Friday, April 26th. Sanford C. Bernstein upgraded Equinor ASA from a market perform rating to an outperform rating and set a $20.00 price target for the company in a report on Monday, July 1st. Santander upgraded Equinor ASA from an underperform rating to a hold rating in a report on Monday, June 17th. HSBC upgraded Equinor ASA from a hold rating to a buy rating in a report on Friday, May 31st. Finally, Banco Santander upgraded Equinor ASA to a hold rating in a report on Monday, June 17th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Equinor ASA currently has a consensus rating of Hold and an average price target of $24.77.

EQNR opened at $17.18 on Friday. The stock has a 50 day moving average of $18.78. Equinor ASA has a twelve month low of $16.57 and a twelve month high of $28.93. The company has a current ratio of 1.43, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The firm has a market cap of $56.16 billion, a price-to-earnings ratio of 8.50 and a beta of 0.92.

Equinor ASA (NYSE:EQNR) last posted its earnings results on Thursday, July 25th. The company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.07). Equinor ASA had a return on equity of 14.13% and a net margin of 10.94%. The company had revenue of $17.10 billion during the quarter. On average, research analysts expect that Equinor ASA will post 1.56 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors bought a new stake in shares of Equinor ASA during the second quarter valued at approximately $36,000. Private Capital Group LLC grew its position in Equinor ASA by 27.0% in the first quarter. Private Capital Group LLC now owns 2,640 shares of the company’s stock valued at $58,000 after acquiring an additional 561 shares during the period. Cullen Frost Bankers Inc. bought a new stake in Equinor ASA in the first quarter valued at $84,000. FinTrust Capital Advisors LLC grew its position in Equinor ASA by 713.0% in the second quarter. FinTrust Capital Advisors LLC now owns 4,195 shares of the company’s stock valued at $83,000 after acquiring an additional 3,679 shares during the period. Finally, Advisors Preferred LLC bought a new stake in Equinor ASA in the first quarter valued at $111,000. Institutional investors and hedge funds own 5.53% of the company’s stock.

Equinor ASA Company Profile

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.

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