Equinor ASA (NYSE:EQNR) Trading Up 1.9% – Here’s What Happened

Equinor ASA (NYSE:EQNR)’s share price was up 1.9% during mid-day trading on Friday . The company traded as high as $23.16 and last traded at $23.12. Approximately 752,701 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 3,325,969 shares. The stock had previously closed at $22.69.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EQNR shares. Berenberg Bank upgraded shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Barclays upgraded shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 25th. Morgan Stanley raised Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 target price on the stock in a report on Monday, October 14th. StockNews.com upgraded shares of Equinor ASA from a “buy” rating to a “strong-buy” rating in a report on Friday, December 20th. Finally, Redburn Atlantic upgraded Equinor ASA from a “neutral” rating to a “buy” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Equinor ASA has an average rating of “Moderate Buy” and an average price target of $26.90.

Equinor ASA Trading Up 1.8 %

The stock’s 50 day moving average price is $23.66 and its 200-day moving average price is $25.53. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $64.51 billion, a PE ratio of 7.09, a PEG ratio of 1.20 and a beta of 0.84.

Equinor ASA (NYSE:EQNR) last released its earnings results on Thursday, October 24th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.74 by $0.05. The firm had revenue of $25.45 billion for the quarter, compared to the consensus estimate of $24.45 billion. Equinor ASA had a net margin of 8.95% and a return on equity of 19.97%. During the same quarter in the previous year, the firm earned $0.92 earnings per share. On average, sell-side analysts expect that Equinor ASA will post 3.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

Several institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Equinor ASA by 11.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 94,267 shares of the company’s stock valued at $2,388,000 after acquiring an additional 9,512 shares during the last quarter. Logan Capital Management Inc. raised its position in shares of Equinor ASA by 4.2% during the 3rd quarter. Logan Capital Management Inc. now owns 115,879 shares of the company’s stock valued at $2,935,000 after buying an additional 4,626 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Equinor ASA in the 3rd quarter valued at about $3,685,000. Wellington Management Group LLP increased its stake in Equinor ASA by 3.7% during the third quarter. Wellington Management Group LLP now owns 3,751,243 shares of the company’s stock worth $95,019,000 after acquiring an additional 132,157 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Equinor ASA by 20.0% in the 3rd quarter. Stifel Financial Corp now owns 75,475 shares of the company’s stock valued at $1,912,000 after purchasing an additional 12,585 shares during the last quarter. Hedge funds and other institutional investors own 5.51% of the company’s stock.

Equinor ASA Company Profile

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.