Equinor ASA (NYSE:EQNR) Rating Increased to Hold (C-) at Weiss Ratings

Key Points

• Equinor ASA has been upgraded by Weiss Ratings from a "sell (d+)" to a "hold (c-)" rating, amidst mixed reviews from other analysts.
• The company's shares recently opened at $24.62 and are trading down 3.0%, with an average target price of $22.71.
• Equinor ASA reported $0.64 earnings per share in its last quarterly earnings, missing analysts' estimates but exceeding revenue expectations with $25.12 billion.

Equinor ASA (NYSE:EQNR - Get Free Report) was upgraded by investment analysts at Weiss Ratings from a "sell (d+)" rating to a "hold (c-)" rating in a research note issued on Wednesday,Weiss Ratings reports.

A number of other analysts have also recently commented on EQNR. UBS Group cut shares of Equinor ASA from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 1st. Pareto Securities lowered shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Morgan Stanley downgraded shares of Equinor ASA from an "equal weight" rating to an "underweight" rating in a report on Wednesday, September 3rd. Hsbc Global Res downgraded shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. downgraded shares of Equinor ASA from a "neutral" rating to an "underweight" rating in a research note on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat.com, Equinor ASA has an average rating of "Reduce" and an average target price of $22.71.

Equinor ASA Trading Down 3.0%

Shares of NYSE:EQNR opened at $24.62 on Wednesday. The company has a market capitalization of $72.50 billion, a P/E ratio of 8.18, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.37 and a current ratio of 1.47. Equinor ASA has a 52-week low of $21.41 and a 52-week high of $28.26. The company has a 50-day simple moving average of $24.67 and a 200 day simple moving average of $24.69.

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

Institutional Investors Weigh In On Equinor ASA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC raised its holdings in shares of Equinor ASA by 725.4% in the 1st quarter. Sound Income Strategies LLC now owns 974 shares of the company's stock valued at $26,000 after purchasing an additional 856 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in shares of Equinor ASA in the 2nd quarter valued at $36,000. Montag A & Associates Inc. acquired a new position in shares of Equinor ASA in the 1st quarter valued at $53,000. Wayfinding Financial LLC acquired a new position in shares of Equinor ASA in the 1st quarter valued at $54,000. Finally, Headlands Technologies LLC purchased a new position in Equinor ASA during the first quarter valued at $57,000. Institutional investors own 5.51% of the company's stock.

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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