Piper Jaffray Companies Reiterates “Buy” Rating for Equinor ASA (EQNR)
Equinor ASA (NYSE:EQNR)‘s stock had its “buy” rating reiterated by research analysts at Piper Jaffray Companies in a research report issued to clients and investors on Monday. They presently have a $27.00 target price on the stock. Piper Jaffray Companies’ price target would suggest a potential upside of 16.13% from the stock’s previous close. Piper Jaffray Companies also issued estimates for Equinor ASA’s Q1 2019 earnings at $0.50 EPS and FY2019 earnings at $1.89 EPS.
EQNR has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Equinor ASA from a “hold” rating to a “strong-buy” rating and set a $31.00 target price for the company in a research note on Tuesday, October 16th. Barclays upgraded shares of Equinor ASA from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, September 11th. Bank of America upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Friday, October 5th. ValuEngine cut shares of Equinor ASA from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, Berenberg Bank assumed coverage on shares of Equinor ASA in a research note on Tuesday, September 11th. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $28.00.
NYSE EQNR opened at $23.25 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.36 and a debt-to-equity ratio of 0.58. The stock has a market cap of $81.33 billion, a PE ratio of 12.49, a P/E/G ratio of 0.51 and a beta of 0.95. Equinor ASA has a 52-week low of $19.91 and a 52-week high of $28.93.
A number of large investors have recently added to or reduced their stakes in EQNR. Folketrygdfondet bought a new position in Equinor ASA during the second quarter worth about $3,042,083,000. Renaissance Technologies LLC bought a new position in Equinor ASA during the second quarter worth about $243,319,000. FMR LLC bought a new position in Equinor ASA during the second quarter worth about $166,549,000. Earnest Partners LLC bought a new position in Equinor ASA during the second quarter worth about $154,133,000. Finally, Bank of America Corp DE bought a new position in Equinor ASA during the second quarter worth about $56,964,000. 5.42% of the stock is currently owned by institutional investors and hedge funds.
About Equinor ASA
Equinor ASA, an energy company, explores for, produces, transports, refines, and markets petroleum and petroleum-derived products, and other forms of energy in Norway and internationally. The company operates through Development & Production Norway; Development & Production USA; Development & Production International; Marketing, Midstream & Processing; New Energy Solutions; Technology, Projects & Drilling; Exploration; and Global Strategy & Business Development segments.
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