Equinor ASA (NYSE:EQNR) Downgraded by Morgan Stanley to Underweight

Key Points

• Morgan Stanley downgraded Equinor from Equal Weight to Underweight.
• Analyst sentiment overall remains Hold, with a consensus price target of $43.47; ratings span one Strong Buy, three Buy, eleven Hold, and three Sell.
• Equinor’s latest quarterly results fell short of estimates: EPS was $1.20 versus $1.38 expected, and revenue was $32.96 billion versus $33.30 billion expected.

Equinor ASA (NYSE:EQNR - Get Free Report) was downgraded by analysts at Morgan Stanley from an "equal weight" rating to an "underweight" rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports.

Several other equities analysts have also commented on EQNR. TD Cowen upped their target price on Equinor ASA from $38.00 to $41.00 and gave the company a "hold" rating in a research note on Monday, September 28th. Wall Street Zen lowered Equinor ASA from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 24th. Morningstar cut Equinor ASA to a "sell" rating in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Equinor ASA in a research note on Wednesday, October 21st. Finally, Berenberg Bank reiterated a "hold" rating on shares of Equinor ASA in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $43.47.

Equinor ASA Stock Down 0.7%

Shares of NYSE EQNR opened at $42.51 on Friday. The firm has a market cap of $101.62 billion, a P/E ratio of 8.84, a price-to-earnings-growth ratio of 1.20 and a beta of 0.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.16. Equinor ASA has a 1 year low of $22.26 and a 1 year high of $49.08. The firm's 50 day moving average price is $44.20 and its 200 day moving average price is $37.82.

Equinor ASA (NYSE:EQNR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.18). Equinor ASA had a net margin of 9.71% and a return on equity of 27.45%. The business had revenue of $32.96 billion during the quarter, compared to analyst estimates of $33.30 billion. As a group, sell-side analysts anticipate that Equinor ASA will post 5.67 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its position in shares of Equinor ASA by 599.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,966,671 shares of the company's stock worth $547,194,000 after buying an additional 11,112,362 shares during the period. Euro Pacific Asset Management LLC raised its holdings in shares of Equinor ASA by 33.2% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 414,023 shares of the company's stock valued at $17,776,000 after buying an additional 103,197 shares during the period. Quantinno Capital Management LP raised its holdings in shares of Equinor ASA by 21.2% during the 1st quarter. Quantinno Capital Management LP now owns 220,132 shares of the company's stock valued at $9,290,000 after buying an additional 38,522 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Equinor ASA during the 1st quarter valued at about $8,745,000. Finally, Jennison Associates LLC acquired a new position in Equinor ASA during the 1st quarter worth approximately $8,582,000. Institutional investors and hedge funds own 5.51% of the company's stock.

Equinor ASA Company Profile

Equinor ASA is a Norwegian energy company headquartered in Stavanger, Norway. Founded in 1972 as Den norske stats oljeselskap, the company was later known as Statoil and StatoilHydro before adopting the Equinor name in 2018. The Norwegian state remains its largest shareholder.

Equinor's core business is the exploration, development, production and marketing of oil and natural gas, with Norway's continental shelf serving as its principal operating area. The company also processes and markets energy products and supplies natural gas and crude oil to customers in Europe and other international markets.

In addition to its oil and gas operations, Equinor is developing lower-carbon energy businesses, including offshore wind, solar power, carbon capture and storage, and other renewable energy projects.

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