Equinor ASA (NYSE:EQNR) Downgraded to Strong Sell Rating by DZ Bank

Key Points

• DZ Bank has downgraded Equinor ASA from a "strong-buy" rating to a "strong sell" rating, reflecting a significant negative shift in analyst sentiment towards the company.
• Equinor ASA has recently experienced multiple downgrades across various institutions, with a current consensus rating of "Reduce" and an average price target of $22.71.
• The company's latest earnings report showed a missed EPS estimate of $0.64 compared to the consensus of $0.66, although it surpassed revenue expectations with $25.12 billion.

Equinor ASA (NYSE:EQNR - Get Free Report) was downgraded by DZ Bank from a "strong-buy" rating to a "strong sell" rating in a research note issued on Wednesday,Zacks.com reports.

EQNR has been the subject of a number of other research reports. Hsbc Global Res lowered Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Morgan Stanley lowered Equinor ASA from an "equal weight" rating to an "underweight" rating in a report on Wednesday, September 3rd. UBS Group lowered Equinor ASA from a "neutral" rating to a "sell" rating in a report on Tuesday, July 1st. Pareto Securities lowered Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Finally, Weiss Ratings upgraded Equinor ASA from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and seven have given a Sell rating to the company. According to MarketBeat.com, Equinor ASA presently has an average rating of "Reduce" and a consensus price target of $22.71.

Equinor ASA Stock Performance

Shares of NYSE EQNR opened at $24.12 on Wednesday. The stock has a fifty day moving average price of $24.64 and a two-hundred day moving average price of $24.68. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.37 and a current ratio of 1.47. The firm has a market cap of $71.03 billion, a P/E ratio of 8.01, a PEG ratio of 0.89 and a beta of 0.52. Equinor ASA has a 1 year low of $21.41 and a 1 year high of $28.26.

Equinor ASA (NYSE:EQNR - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $25.12 billion for the quarter, compared to the consensus estimate of $23.88 billion. Equinor ASA had a return on equity of 16.91% and a net margin of 7.60%. Research analysts forecast that Equinor ASA will post 3.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Equinor ASA

A number of institutional investors have recently added to or reduced their stakes in EQNR. Sound Income Strategies LLC grew its position in Equinor ASA by 725.4% during the first quarter. Sound Income Strategies LLC now owns 974 shares of the company's stock worth $26,000 after buying an additional 856 shares in the last quarter. McIlrath & Eck LLC acquired a new stake in Equinor ASA during the second quarter worth about $36,000. Montag A & Associates Inc. acquired a new stake in Equinor ASA during the first quarter worth about $53,000. Wayfinding Financial LLC acquired a new stake in Equinor ASA during the first quarter worth about $54,000. Finally, Headlands Technologies LLC acquired a new stake in Equinor ASA during the first quarter worth about $57,000. 5.51% of the stock is owned by institutional investors and hedge funds.

About Equinor ASA

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.

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