Equinor ASA (NYSE:EQNR) Stock Rating Lowered by Zacks Research

Equinor ASA (NYSE:EQNR) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also recently weighed in on EQNR. Bank of America cut Equinor ASA from a “buy” rating to a “neutral” rating in a report on Thursday, February 5th. Pareto Securities cut Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. DZ Bank raised Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. UBS Group raised Equinor ASA from a “sell” rating to a “neutral” rating in a report on Friday, March 20th. Finally, Weiss Ratings raised Equinor ASA from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $40.20.

Equinor ASA Stock Performance

NYSE:EQNR opened at $37.84 on Monday. The business’s 50-day moving average price is $39.16 and its two-hundred day moving average price is $30.46. Equinor ASA has a twelve month low of $22.26 and a twelve month high of $43.46. The stock has a market cap of $111.43 billion, a P/E ratio of 17.36, a PEG ratio of 1.15 and a beta of 0.07. The company has a quick ratio of 1.12, a current ratio of 1.24 and a debt-to-equity ratio of 0.57.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.47. The firm had revenue of $28.40 billion for the quarter, compared to analysts’ expectations of $28.73 billion. Equinor ASA had a return on equity of 20.01% and a net margin of 5.30%. As a group, equities analysts predict that Equinor ASA will post 5.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Equinor ASA

A number of large investors have recently made changes to their positions in EQNR. Cassaday & Co Wealth Management LLC bought a new stake in shares of Equinor ASA during the first quarter valued at approximately $35,000. Assetmark Inc. boosted its position in shares of Equinor ASA by 130.2% during the first quarter. Assetmark Inc. now owns 1,036 shares of the company’s stock valued at $44,000 after purchasing an additional 586 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Equinor ASA by 1,794.0% during the fourth quarter. UMB Bank n.a. now owns 1,269 shares of the company’s stock valued at $30,000 after purchasing an additional 1,202 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Equinor ASA by 86.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,318 shares of the company’s stock valued at $31,000 after purchasing an additional 610 shares in the last quarter. Finally, McIlrath & Eck LLC bought a new stake in shares of Equinor ASA during the second quarter valued at approximately $36,000. 5.51% of the stock is currently owned by institutional investors.

Equinor ASA Company Profile

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.