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

Equinor ASA (NYSE:EQNR) was downgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a note issued to investors on Tuesday, MarketBeat.com reports.

Other equities analysts have also issued reports about the company. UBS Group lowered Equinor ASA from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 1st. Barclays lowered Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Kepler Capital Markets lowered Equinor ASA from a “hold” rating to a “reduce” rating in a research report on Tuesday, May 20th. Hsbc Global Res lowered Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Finally, TD Cowen reduced their price target on Equinor ASA from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, May 2nd. Six research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.71.

Equinor ASA Price Performance

Shares of Equinor ASA stock opened at $24.59 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $72.41 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 0.83 and a beta of 0.59. The business’s 50-day moving average price is $25.78 and its 200-day moving average price is $24.42. Equinor ASA has a 12 month low of $21.41 and a 12 month high of $28.26.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $25.12 billion for the quarter, compared to the consensus estimate of $23.88 billion. Equinor ASA had a net margin of 7.60% and a return on equity of 16.91%. Sell-side analysts forecast that Equinor ASA will post 3.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jump Financial LLC grew its position in shares of Equinor ASA by 381.2% in the 2nd quarter. Jump Financial LLC now owns 396,163 shares of the company’s stock worth $9,960,000 after buying an additional 313,837 shares during the last quarter. Cresset Asset Management LLC grew its position in shares of Equinor ASA by 13.7% in the 2nd quarter. Cresset Asset Management LLC now owns 31,522 shares of the company’s stock worth $792,000 after buying an additional 3,788 shares during the last quarter. Guggenheim Capital LLC grew its position in shares of Equinor ASA by 38.6% in the 2nd quarter. Guggenheim Capital LLC now owns 40,487 shares of the company’s stock worth $1,018,000 after buying an additional 11,278 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Equinor ASA by 50.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,230 shares of the company’s stock worth $131,000 after buying an additional 1,751 shares during the last quarter. Finally, M&T Bank Corp grew its position in shares of Equinor ASA by 9.2% in the 2nd quarter. M&T Bank Corp now owns 15,843 shares of the company’s stock worth $399,000 after buying an additional 1,341 shares during the last quarter. 5.51% of the stock is currently owned by institutional investors.

About Equinor ASA

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.