Equinor ASA (NYSE:EQNR) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Equinor ASA (NYSE:EQNR) from a buy rating to a strong-buy rating in a report published on Wednesday morning.

Several other research analysts have also recently weighed in on the stock. Redburn Atlantic upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. raised Equinor ASA from an “underweight” rating to an “overweight” rating in a research note on Monday, December 9th. Morgan Stanley raised Equinor ASA from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $25.80 to $30.90 in a report on Tuesday, January 7th. Barclays upgraded shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 25th. Finally, Berenberg Bank upgraded shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Equinor ASA presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.45.

Equinor ASA Stock Performance

NYSE EQNR opened at $23.98 on Wednesday. The company’s 50 day simple moving average is $24.00 and its two-hundred day simple moving average is $24.97. The stock has a market capitalization of $66.98 billion, a PE ratio of 7.36, a P/E/G ratio of 1.28 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.38. Equinor ASA has a 1 year low of $21.85 and a 1 year high of $29.45.

Equinor ASA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date of this dividend is Friday, February 14th. Equinor ASA’s dividend payout ratio (DPR) is presently 35.89%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can increased its position in shares of Equinor ASA by 7.4% in the second quarter. Bank of Montreal Can now owns 136,581 shares of the company’s stock valued at $3,903,000 after acquiring an additional 9,406 shares during the period. Creative Planning increased its holdings in Equinor ASA by 39.1% during the 2nd quarter. Creative Planning now owns 54,888 shares of the company’s stock valued at $1,568,000 after purchasing an additional 15,419 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Equinor ASA by 2.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,810 shares of the company’s stock valued at $480,000 after purchasing an additional 440 shares during the last quarter. Truist Financial Corp lifted its holdings in Equinor ASA by 9.2% in the 2nd quarter. Truist Financial Corp now owns 13,900 shares of the company’s stock worth $397,000 after buying an additional 1,167 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of Equinor ASA by 52.7% in the 2nd quarter. Cetera Investment Advisers now owns 69,718 shares of the company’s stock worth $1,991,000 after buying an additional 24,052 shares during the last quarter. 5.51% of the stock is owned by hedge funds and other institutional investors.

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.