Equinor ASA (NYSE:EQNR) Stock Rating Lowered by Wall Street Zen

Equinor ASA (NYSE:EQNR) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on EQNR. TD Cowen raised their price target on shares of Equinor ASA from $38.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, September 28th. Berenberg Bank reissued a “hold” rating on shares of Equinor ASA in a research report on Friday, July 24th. SEB Equity Research restated a “sell” rating on shares of Equinor ASA in a report on Friday, October 2nd. Morningstar cut shares of Equinor ASA to a “sell” rating in a report on Thursday, July 23rd. Finally, Zacks Research raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Equinor ASA has a consensus rating of “Hold” and a consensus price target of $43.47.

Equinor ASA Stock Up 0.1%

NYSE:EQNR opened at $48.86 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.10 and a current ratio of 1.18. The company has a market cap of $116.81 billion, a PE ratio of 13.31, a PEG ratio of 1.82 and a beta of 0.13. Equinor ASA has a 52-week low of $22.26 and a 52-week high of $49.08. The stock has a 50-day simple moving average of $43.46 and a 200 day simple moving average of $39.40.

Hedge Funds Weigh In On Equinor ASA

Several large investors have recently modified their holdings of the stock. Legacy Wealth Asset Management LLC increased its holdings in shares of Equinor ASA by 0.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 28,296 shares of the company’s stock valued at $1,177,000 after acquiring an additional 266 shares in the last quarter. Inspire Investing LLC raised its position in shares of Equinor ASA by 4.5% during the first quarter. Inspire Investing LLC now owns 11,657 shares of the company’s stock worth $492,000 after purchasing an additional 503 shares during the period. Signaturefd LLC lifted its holdings in shares of Equinor ASA by 2.0% in the 3rd quarter. Signaturefd LLC now owns 27,153 shares of the company’s stock worth $1,130,000 after purchasing an additional 542 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Equinor ASA by 130.2% in the 1st quarter. Assetmark Inc. now owns 1,036 shares of the company’s stock worth $44,000 after purchasing an additional 586 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of Equinor ASA by 1.5% in the 4th quarter. Corient Private Wealth LLC now owns 50,157 shares of the company’s stock worth $1,185,000 after purchasing an additional 723 shares in the last quarter. 5.51% of the stock is owned by institutional investors.

Equinor ASA Company Profile

Equinor ASA is a Norwegian energy company headquartered in Stavanger, Norway. Founded in 1972 as Den norske stats oljeselskap, the company was later known as Statoil and StatoilHydro before adopting the Equinor name in 2018. The Norwegian state remains its largest shareholder.

Equinor’s core business is the exploration, development, production and marketing of oil and natural gas, with Norway’s continental shelf serving as its principal operating area. The company also processes and markets energy products and supplies natural gas and crude oil to customers in Europe and other international markets.

In addition to its oil and gas operations, Equinor is developing lower-carbon energy businesses, including offshore wind, solar power, carbon capture and storage, and other renewable energy projects.