StockNews.com Upgrades Equinor ASA (NYSE:EQNR) to Strong-Buy

StockNews.com upgraded shares of Equinor ASA (NYSE:EQNR - Free Report) from a buy rating to a strong-buy rating in a research report released on Wednesday morning.

Several other research firms have also recently commented on EQNR. Citigroup raised shares of Equinor ASA to a "strong sell" rating in a research note on Wednesday, October 2nd. Redburn Atlantic upgraded Equinor ASA from a "neutral" rating to a "buy" rating in a research note on Wednesday, November 20th. Berenberg Bank upgraded Equinor ASA from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 27th. Morgan Stanley upgraded Equinor ASA from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $25.80 to $30.90 in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. upgraded shares of Equinor ASA from an "underweight" rating to an "overweight" rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $29.45.

Equinor ASA Price Performance

EQNR stock traded down $0.07 during trading on Wednesday, hitting $23.98. The stock had a trading volume of 3,294,833 shares, compared to its average volume of 3,052,092. The stock has a market cap of $66.98 billion, a price-to-earnings ratio of 7.36, a price-to-earnings-growth ratio of 1.28 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.38 and a current ratio of 1.48. The company's 50 day moving average price is $23.98 and its two-hundred day moving average price is $24.94. Equinor ASA has a 1-year low of $21.85 and a 1-year high of $29.45.

Equinor ASA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend is Friday, February 14th. Equinor ASA's dividend payout ratio is currently 35.89%.

Institutional Trading of Equinor ASA

Institutional investors and hedge funds have recently bought and sold shares of the business. Reston Wealth Management LLC purchased a new stake in Equinor ASA during the third quarter worth approximately $31,000. Manchester Capital Management LLC purchased a new stake in Equinor ASA during the 4th quarter worth $33,000. Synergy Asset Management LLC purchased a new stake in Equinor ASA during the 4th quarter worth $36,000. R Squared Ltd acquired a new stake in Equinor ASA in the 4th quarter valued at $48,000. Finally, Bruce G. Allen Investments LLC raised its position in Equinor ASA by 363.5% in the third quarter. Bruce G. Allen Investments LLC now owns 1,928 shares of the company's stock valued at $49,000 after purchasing an additional 1,512 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, 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.