Equinor ASA (NYSE:EQNR) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Equinor ASA (NYSE:EQNR) have received an average recommendation of “Hold” from the eighteen ratings firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $43.47.

EQNR has been the topic of a number of recent research reports. Wall Street Zen cut shares of Equinor ASA from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 24th. Royal Bank Of Canada raised Equinor ASA from an “underperform” rating to a “sector perform” rating in a report on Thursday, July 23rd. DZ Bank cut Equinor ASA from a “buy” rating to a “hold” rating in a research report on Wednesday, October 28th. Berenberg Bank reissued a “hold” rating on shares of Equinor ASA in a report on Friday, July 24th. Finally, Morningstar lowered Equinor ASA to a “sell” rating in a research report on Thursday, July 23rd.

Institutional Investors Weigh In On Equinor ASA

A number of hedge funds have recently made changes to their positions in EQNR. Arrowstreet Capital Limited Partnership boosted its position in shares of Equinor ASA by 599.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,966,671 shares of the company’s stock worth $547,194,000 after buying an additional 11,112,362 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Equinor ASA in the 1st quarter valued at approximately $8,745,000. Jennison Associates LLC acquired a new stake in Equinor ASA in the 1st quarter valued at approximately $8,582,000. Russell Investments Group Ltd. raised its stake in Equinor ASA by 57.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 371,986 shares of the company’s stock valued at $15,475,000 after acquiring an additional 136,296 shares in the last quarter. Finally, Readystate Asset Management LP bought a new stake in Equinor ASA during the 1st quarter valued at $4,544,000. Institutional investors own 5.51% of the company’s stock.

Equinor ASA Stock Performance

Equinor ASA stock opened at $41.10 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.16 and a quick ratio of 1.07. Equinor ASA has a 12 month low of $22.26 and a 12 month high of $49.08. The company has a fifty day moving average price of $44.20 and a two-hundred day moving average price of $37.98. The company has a market cap of $98.27 billion, a PE ratio of 8.88, a P/E/G ratio of 1.20 and a beta of 0.12.

Equinor ASA (NYSE:EQNR) last issued its earnings results on Tuesday, October 27th. The company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.18). Equinor ASA had a return on equity of 27.45% and a net margin of 9.71%. The business had revenue of $32.96 billion for the quarter, compared to analyst estimates of $33.30 billion. Research analysts expect that Equinor ASA will post 5.67 earnings per share for the current year.

Equinor ASA Company Profile

Equinor ASA is a Norwegian energy company headquartered in Stavanger. Founded in 1972 as the state-owned Den Norske Stats Oljeselskap, it later operated as Statoil before adopting the Equinor name in 2018. The Norwegian state remains its majority owner.

The company’s core business is the exploration, development, and production of oil and natural gas, with a substantial focus on the Norwegian Continental Shelf. Equinor also markets and trades energy products and operates across international markets, including in Europe and North America.

Alongside its oil and gas activities, Equinor develops renewable energy projects, particularly offshore wind, and pursues lower-carbon energy solutions.