Equinor ASA (NYSE:EQNR) Stock Rating Lowered by Sanford C. Bernstein

Equinor ASA (NYSE:EQNR) was downgraded by Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a report released on Friday, Marketbeat reports.

Other research analysts also recently issued research reports about the stock. Weiss Ratings upgraded shares of Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. downgraded shares of Equinor ASA from a “neutral” rating to an “underweight” rating in a report on Tuesday, August 12th. DZ Bank downgraded shares of Equinor ASA from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, October 8th. UBS Group downgraded shares of Equinor ASA from a “neutral” rating to a “sell” rating in a report on Tuesday, July 1st. Finally, Pareto Securities downgraded shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat, Equinor ASA has a consensus rating of “Reduce” and an average target price of $22.71.

Equinor ASA Stock Up 1.0%

Equinor ASA stock opened at $23.12 on Friday. The company has a market capitalization of $68.08 billion, a P/E ratio of 7.68, a P/E/G ratio of 0.83 and a beta of 0.52. The firm’s fifty day simple moving average is $24.42 and its 200-day simple moving average is $24.53. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.58. Equinor ASA has a 1-year low of $21.41 and a 1-year high of $28.26.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $25.12 billion for the quarter, compared to the consensus estimate of $23.88 billion. Equinor ASA had a net margin of 7.60% and a return on equity of 16.91%. Sell-side analysts forecast that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Institutional Trading of Equinor ASA

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Elevation Point Wealth Partners LLC grew its position in Equinor ASA by 1.9% in the 2nd quarter. Elevation Point Wealth Partners LLC now owns 23,101 shares of the company’s stock worth $581,000 after purchasing an additional 424 shares during the last quarter. Lazari Capital Management Inc. boosted its position in shares of Equinor ASA by 5.2% during the 2nd quarter. Lazari Capital Management Inc. now owns 8,544 shares of the company’s stock valued at $215,000 after acquiring an additional 426 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its position in shares of Equinor ASA by 1.8% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 24,805 shares of the company’s stock valued at $605,000 after acquiring an additional 437 shares in the last quarter. Gallacher Capital Management LLC boosted its position in shares of Equinor ASA by 2.2% during the 2nd quarter. Gallacher Capital Management LLC now owns 21,603 shares of the company’s stock valued at $543,000 after acquiring an additional 474 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. boosted its position in shares of Equinor ASA by 0.9% during the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 55,396 shares of the company’s stock valued at $1,351,000 after acquiring an additional 500 shares in the last quarter. 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.