Equinor ASA (NYSE:EQNR) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Equinor ASA from “strong buy” to “buy,” while broader analyst sentiment remains mixed, with an average “hold” rating and a consensus price target of $43.47.
• Equinor shares opened at $48.86, near their 12-month high of $49.08, with a market capitalization of approximately $116.81 billion and a P/E ratio of 11.63.
• The company’s latest quarterly earnings came in slightly below expectations, reporting $1.33 in EPS versus the $1.39 consensus estimate, while analysts expect full-year EPS of $5.60.

Equinor ASA (NYSE:EQNR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Bank of America upgraded shares of Equinor ASA from a "neutral" rating to a "buy" rating and set a $49.00 price objective on the stock in a report on Friday, September 18th. Zacks Research raised Equinor ASA from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 25th. Weiss Ratings reiterated a "buy (b)" rating on shares of Equinor ASA in a research note on Wednesday. Morningstar cut Equinor ASA to a "sell" rating in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada upgraded shares of Equinor ASA from an "underperform" rating to a "sector perform" rating in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Equinor ASA has an average rating of "Hold" and a consensus price target of $43.47.

Equinor ASA Stock Performance

EQNR stock opened at $48.86 on Friday. The company has a market capitalization of $116.81 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 1.73 and a beta of 0.13. Equinor ASA has a 12 month low of $22.26 and a 12 month high of $49.08. The firm has a 50 day moving average of $43.46 and a two-hundred day moving average of $39.42. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 0.56.

Equinor ASA (NYSE:EQNR - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.06). The company had revenue of $34.02 billion for the quarter, compared to the consensus estimate of $34.03 billion. Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%. As a group, equities analysts anticipate that Equinor ASA will post 5.60 EPS for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cassaday & Co Wealth Management LLC acquired a new position in shares of Equinor ASA during the 1st quarter worth about $35,000. Eastern Bank acquired a new stake in Equinor ASA in the second quarter valued at about $35,000. Assetmark Inc. increased its holdings in Equinor ASA by 130.2% in the 1st quarter. Assetmark Inc. now owns 1,036 shares of the company's stock worth $44,000 after purchasing an additional 586 shares in the last quarter. Arlington Trust Co LLC lifted its stake in shares of Equinor ASA by 1,581.9% in the second quarter. Arlington Trust Co LLC now owns 2,136 shares of the company's stock worth $67,000 after acquiring an additional 2,009 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in Equinor ASA in the first quarter valued at approximately $79,000. 5.51% of the stock is owned by institutional investors and hedge funds.

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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