Equinor ASA (NYSE:EQNR) Stock Rating Lowered by Royal Bank of Canada

Equinor ASA (NYSE:EQNR) was downgraded by equities researchers at Royal Bank of Canada from a “sector perform” rating to an “underperform” rating in a report issued on Tuesday, MarketBeat reports.

Several other research firms also recently commented on EQNR. HSBC upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Pareto Securities raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. DZ Bank upgraded Equinor ASA from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Morgan Stanley lowered their target price on Equinor ASA from $30.90 to $28.20 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Finally, Danske upgraded Equinor ASA from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.10.

Equinor ASA Stock Down 1.7 %

Shares of EQNR stock opened at $22.84 on Tuesday. Equinor ASA has a 52-week low of $21.41 and a 52-week high of $29.32. The stock has a market cap of $63.79 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 0.58 and a beta of 0.58. The firm’s 50-day moving average is $23.87 and its 200-day moving average is $23.99. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.36 and a current ratio of 1.48.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.19). Equinor ASA had a net margin of 8.49% and a return on equity of 20.33%. Sell-side analysts predict that Equinor ASA will post 3.46 EPS for the current year.

Institutional Investors Weigh In On Equinor ASA

A number of large investors have recently bought and sold shares of EQNR. Sound Income Strategies LLC lifted its holdings in shares of Equinor ASA by 725.4% during the 1st quarter. Sound Income Strategies LLC now owns 974 shares of the company’s stock worth $26,000 after acquiring an additional 856 shares during the period. Manchester Capital Management LLC bought a new stake in Equinor ASA during the fourth quarter worth $33,000. GeoWealth Management LLC lifted its stake in Equinor ASA by 254.5% during the fourth quarter. GeoWealth Management LLC now owns 1,372 shares of the company’s stock worth $33,000 after purchasing an additional 985 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Equinor ASA in the 4th quarter valued at $36,000. Finally, R Squared Ltd bought a new position in shares of Equinor ASA in the 4th quarter valued at $48,000. 5.51% of the stock is currently owned by institutional investors and hedge funds.

About Equinor ASA

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.