JPMorgan Chase & Co. Downgrades Equinor ASA (NYSE:EQNR) to Underweight

Equinor ASA (NYSE:EQNRGet Rating) was downgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report released on Thursday, The Fly reports.

Other equities research analysts have also recently issued research reports about the stock. DNB Markets raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a research report on Friday, January 6th. Sanford C. Bernstein upgraded shares of Equinor ASA from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 3rd. Societe Generale lifted their price objective on shares of Equinor ASA from 345.00 to 360.00 in a research note on Tuesday, November 1st. StockNews.com upgraded shares of Equinor ASA from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 5th. Finally, HSBC lowered Equinor ASA from a “buy” rating to a “hold” rating in a research report on Thursday, December 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Equinor ASA has a consensus rating of “Hold” and an average price target of $318.63.

Equinor ASA Stock Up 0.9 %

Shares of EQNR stock opened at $31.31 on Thursday. The stock has a market cap of $101.64 billion, a price-to-earnings ratio of 4.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.52 and a current ratio of 1.66. Equinor ASA has a 52-week low of $27.02 and a 52-week high of $42.53. The firm’s 50-day moving average is $34.93 and its 200-day moving average is $35.58.

Equinor ASA (NYSE:EQNRGet Rating) last announced its earnings results on Friday, October 28th. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.34. Equinor ASA had a net margin of 16.29% and a return on equity of 51.24%. The business had revenue of $43.63 billion during the quarter, compared to the consensus estimate of $57.68 billion. Sell-side analysts predict that Equinor ASA will post 7.15 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. increased its holdings in Equinor ASA by 867.1% during the 2nd quarter. Financial Gravity Asset Management Inc. now owns 735 shares of the company’s stock worth $4,648,000 after purchasing an additional 659 shares in the last quarter. Godsey & Gibb Inc. acquired a new stake in shares of Equinor ASA in the fourth quarter valued at approximately $27,000. Guardian Wealth Advisors LLC acquired a new stake in shares of Equinor ASA in the third quarter valued at approximately $25,000. Trust Co. of Vermont bought a new position in Equinor ASA in the second quarter valued at approximately $27,000. Finally, Trustcore Financial Services LLC increased its stake in Equinor ASA by 1,877.8% in the third quarter. Trustcore Financial Services LLC now owns 890 shares of the company’s stock valued at $29,000 after acquiring an additional 845 shares during the last quarter. Institutional investors and hedge funds own 5.46% of the company’s stock.

About Equinor ASA

(Get Rating)

Equinor ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and petroleum-derived products, 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.

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