Equinor ASA (NYSE:EQNR) Stock Rating Lowered by Zacks Investment Research
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. Sanford C. Bernstein raised Equinor ASA from a market perform rating to an outperform rating and set a $20.00 price objective for the company in a research note on Monday, July 1st. Banco Santander raised Equinor ASA to a hold rating in a research note on Monday, June 17th. HSBC downgraded Zurich Insurance Group from a buy rating to a hold rating in a research note on Friday, May 31st. ValuEngine downgraded W&T Offshore from a hold rating to a sell rating in a research note on Friday, April 26th. Finally, Santander raised ENI from a hold rating to a buy rating in a research note on Monday, June 17th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Equinor ASA currently has an average rating of Hold and a consensus price target of $24.77.
Equinor ASA (NYSE:EQNR) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The firm 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%. Equities analysts expect that Equinor ASA will post 1.67 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BOKF NA acquired a new stake in shares of Equinor ASA during the fourth quarter worth $35,000. Private Capital Group LLC boosted its holdings in shares of Equinor ASA by 27.0% during the first quarter. Private Capital Group LLC now owns 2,640 shares of the company’s stock worth $58,000 after purchasing an additional 561 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Equinor ASA during the first quarter worth $84,000. Advisors Preferred LLC acquired a new stake in shares of Equinor ASA during the first quarter worth $111,000. Finally, NumerixS Investment Technologies Inc acquired a new stake in shares of Equinor ASA during the fourth quarter worth $161,000. 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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