Wall Street Zen Upgrades Equinor ASA (NYSE:EQNR) to Strong-Buy

Key Points

• Wall Street Zen upgraded Equinor ASA to “strong buy” from “buy,” while the broader analyst consensus remains “hold,” with an average price target of $39.20.
• Equinor opened at $38.88 and has gained from its 52-week low of $22.26, but its latest quarterly results slightly missed expectations: EPS was $1.33 versus $1.39 forecast, while revenue was approximately in line at $34.02 billion.
• Institutional investors have recently initiated or increased positions in EQNR, including Jennison Associates and QRG Capital Management; institutions collectively own 5.51% of the company.

Equinor ASA (NYSE:EQNR - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts also recently weighed in on EQNR. TD Cowen lifted their target price on Equinor ASA from $37.00 to $38.00 and gave the stock a "hold" rating in a research report on Friday, July 24th. Weiss Ratings raised Equinor ASA from a "hold (c+)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. Royal Bank Of Canada upgraded Equinor ASA from an "underperform" rating to a "sector perform" rating in a research report on Thursday, July 23rd. DZ Bank raised Equinor ASA from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 6th. Finally, Zacks Research cut Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $39.20.

Equinor ASA Stock Performance

NYSE EQNR opened at $38.88 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.18 and a quick ratio of 1.10. The firm has a market capitalization of $92.94 billion, a price-to-earnings ratio of 10.59, a P/E/G ratio of 2.60 and a beta of 0.04. The company's fifty day moving average is $35.94 and its two-hundred day moving average is $35.04. Equinor ASA has a 52-week low of $22.26 and a 52-week high of $43.46.

Equinor ASA (NYSE:EQNR - Get Free Report) last posted its quarterly earnings data 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%. Equities research analysts forecast that Equinor ASA will post 4.93 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQNR. DJE Kapital AG acquired a new stake in shares of Equinor ASA in the 1st quarter valued at $2,913,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Equinor ASA during the 4th quarter worth about $4,734,000. QRG Capital Management Inc. increased its position in shares of Equinor ASA by 38.5% during the 4th quarter. QRG Capital Management Inc. now owns 125,044 shares of the company's stock worth $2,955,000 after purchasing an additional 34,757 shares in the last quarter. Gibbs Wealth Management bought a new position in Equinor ASA during the 1st quarter valued at about $1,189,000. Finally, Jennison Associates LLC bought a new position in Equinor ASA during the 1st quarter valued at about $8,582,000. Institutional investors own 5.51% of the company's stock.

Equinor ASA Company Profile

Equinor ASA NYSE: EQNR is a Norway-based integrated energy company headquartered in Stavanger. Historically established as Statoil in the 1970s to develop Norway's petroleum resources, the company changed its name to Equinor in 2018 to reflect a strategic shift toward a broader energy portfolio. Equinor's operations span the full upstream value chain, including exploration, development and production of oil and natural gas, alongside trading and marketing activities that support its global commercial operations.

In recent years Equinor has pursued a transition strategy that combines continued development of conventional oil and gas resources with growing investments in low‑carbon energy.

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