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Equinor (NYSE:EQNR) shares are on track for an 8-day losing streak and have declined about 7.9% over the last 7 trading sessions.
The petroleum refining company fell as much as 1.6% to a daily low of $29.72 on Wednesday. Shares of the company have fallen about 10.3% in the last 12 months.
The stock has closed in the red for 13 out of 21 total trading days in November.
Looking at Seeking Alpha’s Quant Rating, Equinor has a Hold rating with a score of 3.45 out of 5.
The Stavanger, Norway-based company has been graded an A+ for profitability and a C for momentum, while its growth and valuation prospects have been graded a F and an A-, respectively.
Turning to the Wall Street community, 2 analysts give EQNR a Strong Buy, while 3 are Hold on the stock. Seeking Alpha analysts, on average, see the stock as a Buy.
SA contributor Double Dividend Stocks wrote in their December 3 report that the company is facing “very tough comps” from Energy’s banner year in 2022, but management has a shareholder-friendly approach to attractive dividends. They continue to rate the stock a Hold and said they may add new shares if the price goes lower into the $20’s.
Last week, Equinor was downgraded at Jefferies to Underperform as the ratings research firm reduced its assumptions for 2024–25 European natural gas prices.