Equinor ASA (NYSE:EQNR) Downgraded to Sell Rating by UBS Group

UBS Group lowered shares of Equinor ASA (NYSE:EQNR) from a neutral rating to a sell rating in a research report released on Tuesday, MarketBeat Ratings reports.

A number of other equities research analysts have also recently issued reports on EQNR. Berenberg Bank cut shares of Equinor ASA from a “buy” rating to a “hold” rating and set a $26.44 target price for the company. in a research report on Tuesday, May 20th. Kepler Capital Markets cut shares of Equinor ASA from a “hold” rating to a “reduce” rating in a research report on Tuesday, May 20th. Redburn Atlantic cut shares of Equinor ASA from a “buy” rating to a “sell” rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Equinor ASA in a research report on Wednesday, May 7th. Finally, Barclays cut shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.71.

Equinor ASA Price Performance

NYSE:EQNR opened at $25.54 on Tuesday. The company has a 50-day moving average of $24.51 and a 200-day moving average of $24.12. The company has a market capitalization of $71.31 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 0.68 and a beta of 0.58. Equinor ASA has a 52 week low of $21.41 and a 52 week high of $28.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.27 and a current ratio of 1.37.

Equinor ASA (NYSE:EQNR) last announced its earnings results on Wednesday, April 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.17). The firm had revenue of $27.14 billion for the quarter, compared to analyst estimates of $27.16 billion. Equinor ASA had a return on equity of 18.44% and a net margin of 8.07%. As a group, equities research analysts anticipate that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Equinor ASA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th were paid a $0.304 dividend. This represents a $1.22 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend was Friday, May 16th. Equinor ASA’s dividend payout ratio (DPR) is presently 38.61%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Sound Income Strategies LLC boosted its stake in Equinor ASA by 725.4% during the 1st quarter. Sound Income Strategies LLC now owns 974 shares of the company’s stock worth $26,000 after acquiring an additional 856 shares during the last quarter. GeoWealth Management LLC lifted its stake in Equinor ASA by 254.5% in the fourth quarter. GeoWealth Management LLC now owns 1,372 shares of the company’s stock valued at $33,000 after buying an additional 985 shares in the last quarter. Montag A & Associates Inc. bought a new position in Equinor ASA in the first quarter valued at approximately $53,000. Wayfinding Financial LLC bought a new position in Equinor ASA in the first quarter valued at approximately $54,000. Finally, Headlands Technologies LLC bought a new position in Equinor ASA in the first quarter valued at approximately $57,000. Institutional investors own 5.51% of the company’s stock.

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.