Redburn Atlantic Downgrades Equinor ASA (NYSE:EQNR) to Sell

Equinor ASA (NYSE:EQNR - Get Free Report) was downgraded by equities research analysts at Redburn Atlantic from a "buy" rating to a "sell" rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports.

Other equities analysts have also issued reports about the stock. Morgan Stanley decreased their target price on shares of Equinor ASA from $30.90 to $28.20 and set an "overweight" rating on the stock in a report on Monday, March 17th. Danske upgraded shares of Equinor ASA from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. DZ Bank upgraded Equinor ASA from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. StockNews.com cut shares of Equinor ASA from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Royal Bank of Canada lowered shares of Equinor ASA from a "sector perform" rating to an "underperform" rating in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Equinor ASA has an average rating of "Moderate Buy" and an average price target of $28.10.

Equinor ASA Price Performance

Shares of EQNR traded up $0.11 during midday trading on Wednesday, hitting $22.77. 1,666,526 shares of the company traded hands, compared to its average volume of 3,481,414. The firm has a 50 day moving average of $23.86 and a 200-day moving average of $23.93. Equinor ASA has a 52 week low of $21.41 and a 52 week high of $29.32. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.36 and a current ratio of 1.48. The stock has a market cap of $63.58 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 0.58 and a beta of 0.58.

Equinor ASA (NYSE:EQNR - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.19). Equinor ASA had a net margin of 8.49% and a return on equity of 20.33%. On average, analysts forecast that Equinor ASA will post 3.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in Equinor ASA by 62.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 62,732 shares of the company's stock worth $1,486,000 after purchasing an additional 24,090 shares during the last quarter. ABC Arbitrage SA acquired a new position in Equinor ASA during the fourth quarter worth about $9,043,000. Raymond James Financial Inc. bought a new position in shares of Equinor ASA in the 4th quarter valued at $909,000. Folketrygdfondet increased its stake in shares of Equinor ASA by 4.0% in the fourth quarter. Folketrygdfondet now owns 111,466,079 shares of the company's stock valued at $2,640,631,000 after buying an additional 4,300,472 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Equinor ASA by 11.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 94,267 shares of the company's stock worth $2,388,000 after purchasing an additional 9,512 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.