Equinor ASA (EQNR) Cut to Neutral at Piper Jaffray Companies

Piper Jaffray Companies lowered shares of Equinor ASA (NYSE:EQNR) from an overweight rating to a neutral rating in a research note published on Monday, MarketBeat reports. Piper Jaffray Companies also issued estimates for Equinor ASA’s Q1 2019 earnings at $0.39 EPS, Q2 2019 earnings at $0.35 EPS, Q3 2019 earnings at $0.34 EPS, Q4 2019 earnings at $0.40 EPS, FY2019 earnings at $1.48 EPS, Q2 2020 earnings at $0.39 EPS, Q3 2020 earnings at $0.38 EPS and FY2020 earnings at $1.64 EPS.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research upgraded Equinor ASA from a hold rating to a strong-buy rating and set a $31.00 target price on the stock in a research note on Tuesday, October 16th. ValuEngine downgraded shares of Equinor ASA from a buy rating to a hold rating in a report on Thursday, November 1st. Barclays upgraded shares of Equinor ASA from an equal weight rating to an overweight rating in a research note on Friday, November 23rd. JPMorgan Chase & Co. downgraded Equinor ASA from a neutral rating to an underweight rating in a research note on Thursday, November 29th. Finally, Deutsche Bank upgraded shares of Equinor ASA from a hold rating to a buy rating in a report on Monday, December 10th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Equinor ASA currently has an average rating of Hold and a consensus target price of $26.36.

NYSE EQNR opened at $22.86 on Monday. The firm has a market cap of $75.23 billion, a PE ratio of 11.32 and a beta of 0.97. The company has a current ratio of 1.57, a quick ratio of 1.44 and a debt-to-equity ratio of 0.54. Equinor ASA has a 1-year low of $19.95 and a 1-year high of $28.93.

Hedge funds have recently modified their holdings of the business. Cornerstone Advisors Inc. increased its holdings in shares of Equinor ASA by 289.5% in the third quarter. Cornerstone Advisors Inc. now owns 892 shares of the company’s stock valued at $25,000 after purchasing an additional 663 shares during the last quarter. We Are One Seven LLC acquired a new stake in shares of Equinor ASA during the 4th quarter valued at approximately $31,000. BOKF NA bought a new position in Equinor ASA in the 4th quarter worth about $35,000. Lindbrook Capital LLC bought a new position in shares of Equinor ASA during the 4th quarter worth about $52,000. Finally, Legacy Financial Advisors Inc. increased its holdings in shares of Equinor ASA by 8,963.3% in the fourth quarter. Legacy Financial Advisors Inc. now owns 2,719 shares of the company’s stock valued at $58,000 after purchasing an additional 2,689 shares during the last quarter. Hedge funds and other institutional investors own 5.39% of the company’s stock.

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 USA; Development & Production International; Marketing, Midstream & Processing; New Energy Solutions; Technology, Projects & Drilling; Exploration; and Global Strategy & Business Development segments.

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