Equinor ASA (NYSE:EQNR) Cut to “Hold” at DZ Bank

DZ Bank downgraded shares of Equinor ASA (NYSE:EQNR) from a buy rating to a hold rating in a research note published on Wednesday morning, Marketbeat Ratings reports.

Several other research firms have also recently commented on EQNR. TD Cowen raised their target price on shares of Equinor ASA from $38.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, September 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Equinor ASA in a research note on Wednesday, October 21st. Zacks Research raised Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 25th. Wall Street Zen cut Equinor ASA from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 24th. Finally, Bank of America raised Equinor ASA from a “neutral” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Equinor ASA presently has an average rating of “Hold” and a consensus price target of $43.47.

Equinor ASA Trading Up 2.5%

Shares of EQNR opened at $48.77 on Wednesday. The stock’s 50-day moving average is $44.03 and its two-hundred day moving average is $37.43. The stock has a market cap of $116.58 billion, a PE ratio of 9.87, a P/E/G ratio of 1.77 and a beta of 0.13. Equinor ASA has a 12 month low of $22.26 and a 12 month high of $49.08. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.16 and a quick ratio of 1.10.

Equinor ASA (NYSE:EQNR) last announced its earnings results on Wednesday, October 28th. The company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.18). The business had revenue of $32.96 billion during the quarter, compared to analyst estimates of $33.30 billion. Equinor ASA had a net margin of 9.71% and a return on equity of 27.45%. Equities analysts forecast that Equinor ASA will post 5.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

Several large investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership boosted its position in Equinor ASA by 599.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,966,671 shares of the company’s stock worth $547,194,000 after purchasing an additional 11,112,362 shares during the period. Euro Pacific Asset Management LLC grew its stake in Equinor ASA by 33.2% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 414,023 shares of the company’s stock valued at $17,776,000 after buying an additional 103,197 shares during the last quarter. Quantinno Capital Management LP raised its holdings in Equinor ASA by 21.2% in the 1st quarter. Quantinno Capital Management LP now owns 220,132 shares of the company’s stock worth $9,290,000 after acquiring an additional 38,522 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Equinor ASA during the 1st quarter worth $8,745,000. Finally, Jennison Associates LLC acquired a new position in Equinor ASA during the 1st quarter worth $8,582,000. Institutional investors own 5.51% of the company’s stock.

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.