Equinor ASA (NYSE:EQNR) Downgraded by Zacks Investment Research Posted by Joseph Griffin on Jul 14th, 2019 Tweet
Zacks Investment Research downgraded 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. “ Get Equinor ASA alerts:
EQNR has been the subject of a number of other research reports. ValuEngine cut W&T Offshore from a hold rating to a sell rating in a report on Friday, April 26th. Banco Santander upgraded Equinor ASA to a hold rating in a report on Monday, June 17th. Santander upgraded ENI from a hold rating to a buy rating in a report on Monday, June 17th. HSBC cut Zurich Insurance Group from a buy rating to a hold rating in a report on Friday, May 31st. 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 research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $24.77. Shares of NYSE EQNR opened at $20.14 on Wednesday. The stock’s 50 day simple moving average is $19.76. The firm has a market capitalization of $67.04 billion, a P/E ratio of 9.97 and a beta of 0.94. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.59. Equinor ASA has a twelve month low of $18.91 and a twelve month high of $28.93.
Equinor ASA (NYSE:EQNR) last announced its quarterly earnings results on Friday, May 3rd. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The firm had revenue of $16.41 billion for the quarter. Equinor ASA had a return on equity of 15.79% and a net margin of 10.46%. Equities analysts forecast that Equinor ASA will post 1.67 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Equinor ASA by 5.1% in the first 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 period. Lazard Asset Management LLC boosted its stake in shares of Equinor ASA by 332.6% in the first 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 period. Parametric Portfolio Associates LLC boosted its stake in shares of Equinor ASA by 4.0% in the first quarter. Parametric Portfolio Associates LLC now owns 1,199,236 shares of the company’s stock valued at $26,347,000 after buying an additional 46,268 shares during the period. Clark Capital Management Group Inc. bought a new stake in shares of Equinor ASA in the second quarter valued at approximately $16,793,000. Finally, Deutsche Bank AG boosted its stake in shares of Equinor ASA by 146.5% in the fourth quarter. Deutsche Bank AG now owns 780,595 shares of the company’s stock valued at $16,525,000 after buying an additional 463,946 shares during the period. 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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