Equinor ASA (NYSE:EQNR) Stock Rating Lowered by Bank of America

Equinor ASA (NYSE:EQNRGet Free Report) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat Ratings reports.

Several other brokerages also recently issued reports on EQNR. Jefferies Financial Group initiated coverage on shares of Equinor ASA in a research note on Thursday, January 8th. They set a “hold” rating on the stock. Barclays reissued an “underweight” rating on shares of Equinor ASA in a research report on Friday, October 31st. DZ Bank lowered shares of Equinor ASA from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, October 8th. Weiss Ratings raised Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Finally, Zacks Research cut shares of Equinor ASA from a “hold” rating to a “strong sell” rating in a research note on Thursday, December 11th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $24.71.

Read Our Latest Stock Analysis on EQNR

Equinor ASA Stock Up 1.9%

EQNR opened at $26.84 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.38 and a current ratio of 1.48. The company has a market capitalization of $79.04 billion, a PE ratio of 12.72, a P/E/G ratio of 3.29 and a beta of 0.38. The stock’s fifty day moving average is $24.02 and its 200-day moving average is $24.28. Equinor ASA has a one year low of $21.41 and a one year high of $28.26.

Equinor ASA (NYSE:EQNRGet Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.21. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $21.31 billion. Equinor ASA had a net margin of 5.27% and a return on equity of 14.34%. On average, equities analysts predict that Equinor ASA will post 3.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Equinor ASA

A number of institutional investors have recently made changes to their positions in EQNR. Mirabella Financial Services LLP bought a new position in shares of Equinor ASA during the 3rd quarter valued at about $730,757,000. Bank of America Corp DE boosted its position in shares of Equinor ASA by 30.2% during the third quarter. Bank of America Corp DE now owns 15,759,942 shares of the company’s stock worth $384,227,000 after buying an additional 3,659,611 shares during the period. JPMorgan Chase & Co. lifted its stake in Equinor ASA by 1,437.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,286,328 shares of the company’s stock valued at $55,741,000 after acquiring an additional 2,137,642 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Equinor ASA by 113.0% during the second quarter. Fisher Asset Management LLC now owns 1,787,778 shares of the company’s stock worth $44,945,000 after purchasing an additional 948,609 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in Equinor ASA in the third quarter valued at $21,366,000. 5.51% of the stock is owned by institutional investors and hedge funds.

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About Equinor ASA

(Get Free Report)

Equinor ASA (NYSE: EQNR) is a Norway-based integrated energy company headquartered in Stavanger. Historically established as Statoil in the 1970s to develop Norway’s petroleum resources, the company changed its name to Equinor in 2018 to reflect a strategic shift toward a broader energy portfolio. Equinor’s operations span the full upstream value chain, including exploration, development and production of oil and natural gas, alongside trading and marketing activities that support its global commercial operations.

In recent years Equinor has pursued a transition strategy that combines continued development of conventional oil and gas resources with growing investments in low‑carbon energy.

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Analyst Recommendations for Equinor ASA (NYSE:EQNR)

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