Equinor ASA (Equinor ASA) Momentum Rank : 2 (As of May. 03, 2024)

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What is Equinor ASA Momentum Rank?

Equinor ASA has the Momentum Rank of 2.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of Equinor ASA's Momentum Rank

For the Oil & Gas Integrated subindustry, Equinor ASA's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Equinor ASA's Momentum Rank Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Equinor ASA's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Equinor ASA's Momentum Rank falls into.

Equinor ASA Momentum Rank Related Terms

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Equinor ASA (Equinor ASA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Equinor ASA (NYSE:EQNR) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

STOHF:USA EQNR:Sweden EQNR:Norway EQNR:Mexico EQNRo:UK 0M2Z:UK DNQA:Germany DNQ:Germany DNQ:Germany DNQA:Germany DNQ:Germany E1QN34:Brazil

Address

Forusbeen 50, Stavanger, NOR, N-4035

Website

https://www.equinor.com

Equinor is a Norway-based integrated oil and gas company. It has been publicly listed since 2001, but the government retains a 67% stake. Operating primarily on the Norwegian Continental Shelf, the firm produced 2.0 million barrels of oil equivalent per day in 2022 (50% liquids) and ended the year with 5.2 billion barrels of proven reserves (49% liquidsl). Operations also include offshore wind, solar, oil refineries and natural gas processing, marketing, and trading.