Equinor (EQNR) closed at $35.31 in the latest trading session, marking a -0.14% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.03%. Elsewhere, the Dow lost 1.15%, while the tech-heavy Nasdaq added 0.39%.Heading into today, shares of the oil and gas company had lost 0.37% over the past month, lagging the Oils-Energy sector's of 0% and outpacing the S&P 500's loss of 3.51% in that time.Equinor will be looking to display strength as it nears its next earnings release. In that report, analysts expect Equinor to post earnings of $1.78 per share. This would mark year-over-year growth of 109.41%. Meanwhile, our latest consensus estimate is calling for revenue of $57.68 billion, up 147.93% from the prior-year quarter.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.11 per share and revenue of $203.96 billion. These totals would mark changes of +130.84% and +127.98%, respectively, from last year.Investors should also note any recent changes to analyst estimates for Equinor. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 12.67% higher. Equinor is currently sporting a Zacks Rank of #2 (Buy).Digging into valuation, Equinor currently has a Forward P/E ratio of 4.97. For comparison, its industry has an average Forward P/E of 5.68, which means Equinor is trading at a discount to the group.Meanwhile, EQNR's PEG ratio is currently 0.99. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 0.46 at yesterday's closing price.The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 5, which puts it in the top 2% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Equinor ASA (EQNR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research