Equinor ASA (NYSE:EQNR) Raised to “Neutral” at Goldman Sachs Group

Goldman Sachs Group upgraded shares of Equinor ASA (NYSE:EQNR) from a sell rating to a neutral rating in a research report sent to investors on Thursday, BenzingaRatingsTable reports.

A number of other brokerages have also recently commented on EQNR. HSBC upgraded Equinor ASA from a hold rating to a buy rating in a report on Friday, May 31st. Santander upgraded Equinor ASA from an underperform rating to a hold rating in a report on Monday, June 17th. Sanford C. Bernstein upgraded Equinor ASA from a market perform rating to an outperform rating and set a $20.00 target price for the company in a report on Monday, July 1st. ValuEngine cut Equinor ASA from a hold rating to a sell rating in a report on Friday, April 26th. Finally, Banco Santander upgraded Equinor ASA to a hold rating in a report on Monday, June 17th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $24.77.

Equinor ASA stock traded down $0.10 during midday trading on Thursday, reaching $17.31. 2,140,823 shares of the stock traded hands, compared to its average volume of 1,899,623. The business has a 50-day simple moving average of $19.39. Equinor ASA has a 12-month low of $17.22 and a 12-month high of $28.93. The firm has a market capitalization of $57.95 billion, a price-to-earnings ratio of 8.57 and a beta of 0.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.43.

Equinor ASA (NYSE:EQNR) last announced its earnings results on Thursday, July 25th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.07). Equinor ASA had a net margin of 10.94% and a return on equity of 14.13%. The firm had revenue of $17.10 billion for the quarter. On average, analysts expect that Equinor ASA will post 1.61 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its stake in shares of Equinor ASA by 2.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,434 shares of the company’s stock valued at $383,000 after buying an additional 481 shares during the period. Private Capital Group LLC boosted its stake in shares of Equinor ASA by 27.0% in the 1st quarter. Private Capital Group LLC now owns 2,640 shares of the company’s stock valued at $58,000 after buying an additional 561 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Equinor ASA by 6.6% in the 2nd quarter. Raymond James Trust N.A. now owns 10,146 shares of the company’s stock valued at $200,000 after buying an additional 629 shares during the period. BTIM Corp. boosted its stake in shares of Equinor ASA by 0.7% in the 1st quarter. BTIM Corp. now owns 93,710 shares of the company’s stock valued at $2,059,000 after buying an additional 675 shares during the period. Finally, Confluence Investment Management LLC boosted its stake in shares of Equinor ASA by 3.7% in the 2nd quarter. Confluence Investment Management LLC now owns 39,459 shares of the company’s stock valued at $780,000 after buying an additional 1,395 shares during the period. Institutional investors and hedge funds own 5.54% 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.

Further Reading: What does a neutral rating on stocks mean?

Analyst Recommendations for Equinor ASA (NYSE:EQNR)

Receive News & Ratings for Equinor ASA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinor ASA and related companies with MarketBeat.com's FREE daily email newsletter.