Equinor ASA (NYSE:EQNR) Raised to Overweight at Barclays

Barclays upgraded shares of Equinor ASA (NYSE:EQNR) from an equal weight rating to an overweight rating in a research note released on Monday, MarketBeat reports.

A number of other equities analysts have also issued reports on the company. UBS Group raised Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Thursday, August 8th. Citigroup raised shares of Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. StockNews.com downgraded shares of Equinor ASA from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. Morgan Stanley upgraded shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 target price on the stock in a research note on Monday, October 14th. Finally, Redburn Atlantic upgraded Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Equinor ASA presently has a consensus rating of “Hold” and an average price target of $26.90.

Equinor ASA Price Performance

Shares of EQNR stock opened at $24.37 on Monday. The firm has a fifty day simple moving average of $24.53 and a 200-day simple moving average of $26.26. The company has a market capitalization of $68.06 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 5.30 and a beta of 0.84. Equinor ASA has a twelve month low of $22.15 and a twelve month high of $32.87. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. Equinor ASA had a net margin of 8.95% and a return on equity of 19.97%. The company had revenue of $25.45 billion during the quarter, compared to analysts’ expectations of $24.45 billion. During the same period in the prior year, the company posted $0.92 EPS. Equities research analysts anticipate that Equinor ASA will post 3.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EQNR. EverSource Wealth Advisors LLC lifted its holdings in Equinor ASA by 27.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock worth $45,000 after acquiring an additional 365 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Equinor ASA by 0.7% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 56,658 shares of the company’s stock worth $1,618,000 after purchasing an additional 402 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Equinor ASA by 2.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,810 shares of the company’s stock worth $480,000 after purchasing an additional 440 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Equinor ASA by 12.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,804 shares of the company’s stock valued at $122,000 after purchasing an additional 543 shares during the period. Finally, Profund Advisors LLC boosted its position in Equinor ASA by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 19,260 shares of the company’s stock valued at $550,000 after purchasing an additional 559 shares during the period. 5.51% of the stock is owned by institutional investors and hedge funds.

Equinor ASA Company Profile

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.