Equinor ASA (NYSE:EQNR) Upgraded to “Overweight” at Morgan Stanley

Equinor ASA (NYSE:EQNR) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Tuesday, Marketbeat reports. The brokerage currently has a $30.90 price objective on the stock, up from their previous price objective of $25.80. Morgan Stanley’s target price would indicate a potential upside of 23.55% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded Equinor ASA from a “strong-buy” rating to a “buy” rating in a report on Friday. Redburn Atlantic raised Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 20th. Citigroup raised Equinor ASA to a “strong sell” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded shares of Equinor ASA from an “underweight” rating to an “overweight” rating in a research note on Monday, December 9th. Finally, Berenberg Bank upgraded shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Equinor ASA currently has a consensus rating of “Moderate Buy” and an average target price of $29.45.

Equinor ASA Stock Down 0.8 %

EQNR stock opened at $25.01 on Tuesday. Equinor ASA has a 52 week low of $21.85 and a 52 week high of $31.02. The business has a 50-day simple moving average of $23.58 and a 200 day simple moving average of $25.34. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 0.51. The company has a market cap of $69.85 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84.

Equinor ASA (NYSE:EQNR) last issued its earnings results on Thursday, October 24th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. The company had revenue of $25.45 billion during the quarter, compared to analysts’ expectations of $24.45 billion. Equinor ASA had a net margin of 8.95% and a return on equity of 19.97%. During the same period in the previous year, the company earned $0.92 EPS. Sell-side analysts anticipate that Equinor ASA will post 3.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EQNR. Reston Wealth Management LLC acquired a new position in Equinor ASA in the 3rd quarter valued at approximately $31,000. EverSource Wealth Advisors LLC raised its position in Equinor ASA by 27.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock worth $45,000 after purchasing an additional 365 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in Equinor ASA by 363.5% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,928 shares of the company’s stock worth $49,000 after buying an additional 1,512 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Equinor ASA during the 2nd quarter worth about $51,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Equinor ASA by 12.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,804 shares of the company’s stock valued at $122,000 after buying an additional 543 shares during the last quarter. Institutional investors own 5.51% of the company’s stock.

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.