Equinor ASA (NYSE:EQNR) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Equinor ASA (NYSE:EQNR) from a hold rating to a strong sell rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Equinor ASA operates as an energy company. It engaged in developing oil, gas, wind and solar energy projects and focuses on offshore operations and exploration services. Equinor ASA, formerly known as Statoil ASA, is based in Norway, Europe. “

EQNR has been the subject of a number of other reports. ValuEngine downgraded W&T Offshore from a hold rating to a sell rating in a report on Friday, April 26th. HSBC downgraded Zurich Insurance Group from a buy rating to a hold rating in a report on Friday, May 31st. Santander upgraded ENI from a hold rating to a buy rating in a report on Monday, June 17th. Banco Santander upgraded Equinor ASA to a hold rating in a report on Monday, June 17th. Finally, Sanford C. Bernstein upgraded Equinor ASA from a market perform rating to an outperform rating and set a $20.00 price objective for the company in a report on Monday, July 1st. Five analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $24.77.

NYSE EQNR opened at $20.14 on Wednesday. The firm has a market capitalization of $67.04 billion, a P/E ratio of 9.97 and a beta of 0.94. Equinor ASA has a twelve month low of $18.91 and a twelve month high of $28.93. The firm has a fifty day moving average of $19.76. The company has a quick ratio of 1.35, a current ratio of 1.48 and a debt-to-equity ratio of 0.59.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. The business had revenue of $16.41 billion during the quarter. Equinor ASA had a return on equity of 15.79% and a net margin of 10.46%. Sell-side analysts anticipate that Equinor ASA will post 1.67 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Clark Capital Management Group Inc. purchased a new stake in Equinor ASA in the 2nd quarter valued at about $16,793,000. FMR LLC increased its stake in Equinor ASA by 5.1% in the 1st quarter. FMR LLC now owns 16,656,952 shares of the company’s stock valued at $365,952,000 after buying an additional 808,617 shares during the last quarter. Clearbridge Investments LLC increased its stake in Equinor ASA by 46.5% in the 1st quarter. Clearbridge Investments LLC now owns 78,630 shares of the company’s stock valued at $1,728,000 after buying an additional 24,957 shares during the last quarter. Lazard Asset Management LLC increased its stake in Equinor ASA by 332.6% in the 1st quarter. Lazard Asset Management LLC now owns 2,725,421 shares of the company’s stock valued at $59,877,000 after buying an additional 2,095,354 shares during the last quarter. Finally, U S Global Investors Inc. purchased a new stake in Equinor ASA in the 1st quarter valued at about $549,000. Institutional investors and hedge funds own 5.51% of the company’s stock.

Equinor ASA Company Profile

Equinor ASA, an energy company, explores for, produces, transports, refines, and markets petroleum and petroleum-derived products, and other forms of energy in Norway and internationally. The company operates through Development & Production Norway; Development & Production Brazil; Development & Production International; Marketing, Midstream & Processing; New Energy Solutions; Technology, Projects & Drilling; Exploration; and Global Strategy & Business Development segments.

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