Equinor ASA (EQNR) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Equinor ASA (NYSE:EQNR) from a strong sell rating to a hold rating in a report published on Tuesday.

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. “

Several other equities analysts have also recently weighed in on the stock. Piper Jaffray Companies cut shares of Equinor ASA from an overweight rating to a neutral rating in a research report on Monday. Credit Suisse Group cut shares of Equinor ASA from a neutral rating to an underperform rating in a research report on Wednesday, January 23rd. Goldman Sachs Group cut shares of Equinor ASA from a neutral rating to a sell rating in a research report on Thursday, December 13th. Pareto Securities cut shares of Equinor ASA from a hold rating to a sell rating in a research report on Thursday, December 13th. Finally, Bank of America lowered shares of Equinor ASA from a buy rating to a neutral rating and set a $23.07 price objective for the company. in a research note on Tuesday, December 11th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Equinor ASA currently has a consensus rating of Hold and a consensus price target of $26.36.

Shares of NYSE EQNR opened at $22.93 on Tuesday. Equinor ASA has a fifty-two week low of $19.95 and a fifty-two week high of $28.93. The stock has a market capitalization of $75.23 billion, a P/E ratio of 11.35 and a beta of 0.97. The company has a current ratio of 1.57, a quick ratio of 1.44 and a debt-to-equity ratio of 0.54.

A number of large investors have recently bought and sold shares of EQNR. Cornerstone Advisors Inc. increased its stake in Equinor ASA by 289.5% in the 3rd quarter. Cornerstone Advisors Inc. now owns 892 shares of the company’s stock valued at $25,000 after buying an additional 663 shares during the last quarter. We Are One Seven LLC purchased a new stake in Equinor ASA in the 4th quarter valued at about $31,000. Lindbrook Capital LLC purchased a new stake in Equinor ASA in the 4th quarter valued at about $52,000. Legacy Financial Advisors Inc. increased its stake in Equinor ASA by 8,963.3% in the 4th quarter. Legacy Financial Advisors Inc. now owns 2,719 shares of the company’s stock valued at $58,000 after buying an additional 2,689 shares during the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new stake in Equinor ASA in the 3rd quarter valued at about $104,000. Hedge funds and other institutional investors own 5.39% 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 USA; Development & Production International; Marketing, Midstream & Processing; New Energy Solutions; Technology, Projects & Drilling; Exploration; and Global Strategy & Business Development segments.

See Also: Bear Market

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Analyst Recommendations for Equinor ASA (NYSE:EQNR)

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