Equinor ASA (NYSE:EQNR) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Equinor ASA (NYSE:EQNR) from a strong sell rating to a hold rating in a research report released on Wednesday, 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. “

EQNR has been the subject of several other reports. Banco Santander raised Equinor ASA to a hold rating in a report on Monday, June 17th. Sanford C. Bernstein raised 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. HSBC cut Zurich Insurance Group from a buy rating to a hold rating in a report on Friday, May 31st. ValuEngine cut W&T Offshore from a hold rating to a sell rating in a report on Friday, April 26th. Finally, Santander raised ENI from a hold rating to a buy rating in a report on Monday, June 17th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $24.77.

Equinor ASA stock opened at $19.01 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 1.48 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average is $19.72. The firm has a market cap of $63.28 billion, a PE ratio of 9.36 and a beta of 0.94. Equinor ASA has a twelve month low of $18.65 and a twelve month high of $28.93.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.40 by $0.06. The business had revenue of $16.41 billion during the quarter. Equinor ASA had a return on equity of 15.79% and a net margin of 10.46%. As a group, equities analysts predict that Equinor ASA will post 1.61 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BOKF NA purchased a new position in Equinor ASA in the 4th quarter valued at approximately $35,000. Private Capital Group LLC increased its stake in Equinor ASA by 27.0% in the 1st quarter. Private Capital Group LLC now owns 2,640 shares of the company’s stock valued at $58,000 after purchasing an additional 561 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Equinor ASA in the 1st quarter valued at approximately $84,000. Advisors Preferred LLC purchased a new position in Equinor ASA in the 1st quarter valued at approximately $111,000. Finally, Raymond James Trust N.A. increased its stake in Equinor ASA by 6.6% in the 2nd quarter. Raymond James Trust N.A. now owns 10,146 shares of the company’s stock valued at $200,000 after purchasing an additional 629 shares in the last quarter. 5.51% of the stock is owned by hedge funds and other institutional investors.

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.

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