Equinor ASA (NYSE:EQNR) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Equinor ASA (NYSE:EQNR) have been assigned an average recommendation of “Reduce” from the sixteen ratings firms that are covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $22.7133.

EQNR has been the topic of several recent research reports. Hsbc Global Res lowered shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Pareto Securities lowered shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. JPMorgan Chase & Co. lowered shares of Equinor ASA from a “neutral” rating to an “underweight” rating in a research note on Tuesday, August 12th. Morgan Stanley lowered shares of Equinor ASA from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, September 3rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Equinor ASA in a research note on Saturday, September 27th.

Equinor ASA Trading Up 1.5%

Shares of EQNR stock opened at $24.75 on Monday. Equinor ASA has a 52-week low of $21.41 and a 52-week high of $28.26. The stock has a market cap of $72.87 billion, a price-to-earnings ratio of 8.22, a P/E/G ratio of 0.88 and a beta of 0.52. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.37 and a current ratio of 1.47. The firm has a fifty day moving average of $24.74 and a 200-day moving average of $24.69.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $25.12 billion during the quarter, compared to analyst estimates of $23.88 billion. Equinor ASA had a net margin of 7.60% and a return on equity of 16.91%. On average, equities research analysts forecast that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Institutional Trading of Equinor ASA

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sound Income Strategies LLC increased its holdings in Equinor ASA by 725.4% during the first quarter. Sound Income Strategies LLC now owns 974 shares of the company’s stock worth $26,000 after buying an additional 856 shares during the last quarter. McIlrath & Eck LLC acquired a new position in Equinor ASA during the second quarter worth $36,000. Montag A & Associates Inc. acquired a new position in Equinor ASA during the first quarter worth $53,000. Wayfinding Financial LLC acquired a new position in Equinor ASA during the first quarter worth $54,000. Finally, Headlands Technologies LLC acquired a new position in Equinor ASA during the first quarter worth $57,000. 5.51% of the stock is currently owned by institutional investors and hedge funds.

About Equinor ASA

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.