Equinor ASA (NYSE:EQNR) Rating Increased to Strong-Buy at Berenberg Bank

Equinor ASA (NYSE:EQNR) was upgraded by equities researchers at Berenberg Bank from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts have also commented on the company. Citigroup raised Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. Redburn Atlantic upgraded Equinor ASA from a “neutral” rating to a “buy” rating in a report on Wednesday, November 20th. StockNews.com upgraded Equinor ASA from a “buy” rating to a “strong-buy” rating in a report on Friday. Barclays upgraded shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 25th. Finally, Morgan Stanley upgraded Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price target for the company in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.90.

Equinor ASA Price Performance

Equinor ASA stock opened at $24.19 on Wednesday. The stock has a market capitalization of $67.56 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 5.30 and a beta of 0.84. Equinor ASA has a 52-week low of $22.15 and a 52-week high of $32.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.38 and a current ratio of 1.48. The stock’s 50 day moving average price is $24.50 and its two-hundred day moving average price is $26.22.

Equinor ASA (NYSE:EQNR) last issued 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. Equinor ASA had a net margin of 8.95% and a return on equity of 19.97%. The business had revenue of $25.45 billion for the quarter, compared to analyst estimates of $24.45 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. On average, equities analysts predict that Equinor ASA will post 3.31 earnings per share for the current year.

Hedge Funds Weigh In On Equinor ASA

Several institutional investors have recently modified their holdings of the business. Atwood & Palmer Inc. bought a new stake in Equinor ASA during the second quarter worth $25,000. Rothschild Investment LLC bought a new position in Equinor ASA during the second quarter valued at about $32,000. Reston Wealth Management LLC purchased a new stake in Equinor ASA during the third quarter worth about $31,000. EverSource Wealth Advisors LLC raised its position in Equinor ASA by 27.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock worth $45,000 after acquiring an additional 365 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Equinor ASA during the 2nd quarter valued at approximately $51,000. 5.51% of the stock is 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.