Equinor ASA (NYSE:EQNR) Upgraded to Outperform by Royal Bank of Canada

Posted by Defense World Staff on Aug 9th, 2023

Equinor ASA (NYSE:EQNR – Get Free Report) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports.

EQNR has been the subject of a number of other reports. StockNews.com lowered shares of Equinor ASA from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Berenberg Bank downgraded shares of Equinor ASA from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Morgan Stanley downgraded shares of Equinor ASA from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, June 21st. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $361.75.

Read Our Latest Research Report on EQNR

Equinor ASA Price Performance

Shares of EQNR stock opened at $30.86 on Wednesday. The firm has a market cap of $96.34 billion, a P/E ratio of 4.02, a P/E/G ratio of 0.89 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.84 and a quick ratio of 1.73. Equinor ASA has a 1-year low of $25.23 and a 1-year high of $42.53. The firm has a fifty day moving average of $29.35 and a two-hundred day moving average of $29.27.

Equinor ASA (NYSE:EQNR – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.08). Equinor ASA had a net margin of 18.50% and a return on equity of 35.90%. The business had revenue of $22.87 billion during the quarter, compared to analyst estimates of $43.43 billion. During the same period last year, the firm posted $1.56 earnings per share. As a group, research analysts anticipate that Equinor ASA will post 4.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Equinor ASA

Large investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its position in Equinor ASA by 42.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 10,186,246 shares of the company’s stock valued at $382,086,000 after purchasing an additional 3,052,907 shares in the last quarter. FMR LLC grew its position in Equinor ASA by 30.3% in the first quarter. FMR LLC now owns 9,137,576 shares of the company’s stock worth $259,781,000 after acquiring an additional 2,125,122 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Equinor ASA by 47.6% in the second quarter. Goldman Sachs Group Inc. now owns 3,752,274 shares of the company’s stock worth $130,429,000 after acquiring an additional 1,210,930 shares in the last quarter. Earnest Partners LLC grew its position in Equinor ASA by 10.7% in the second quarter. Earnest Partners LLC now owns 3,747,753 shares of the company’s stock worth $109,472,000 after acquiring an additional 362,405 shares in the last quarter. Finally, Todd Asset Management LLC grew its position in Equinor ASA by 2.5% in the fourth quarter. Todd Asset Management LLC now owns 2,351,830 shares of the company’s stock worth $84,219,000 after acquiring an additional 57,388 shares in the last quarter.

Equinor ASA Company Profile

(Get Free Report)

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.