Equinor ASA (NYSE:EQNR) Price Target Cut to $37.00 by Analysts at TD Cowen

Equinor ASA (NYSE:EQNR) had its target price dropped by research analysts at TD Cowen from $42.00 to $37.00 in a report released on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price target would suggest a potential upside of 17.83% from the company’s current price.

EQNR has been the topic of several other reports. UBS Group raised Equinor ASA from a “sell” rating to a “neutral” rating in a research note on Friday, March 20th. Rothschild & Co Redburn upgraded Equinor ASA from a “strong sell” rating to a “hold” rating in a report on Thursday, April 9th. Pareto Securities lowered Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. Morgan Stanley raised shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $40.40 price objective on the stock in a research report on Tuesday, March 24th. Finally, DZ Bank raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Equinor ASA presently has a consensus rating of “Hold” and a consensus price target of $38.70.

Equinor ASA Price Performance

Shares of NYSE:EQNR traded up $0.37 on Monday, reaching $31.40. The company’s stock had a trading volume of 1,086,284 shares, compared to its average volume of 6,062,871. The company has a 50-day simple moving average of $36.93 and a 200 day simple moving average of $32.34. Equinor ASA has a 52-week low of $22.26 and a 52-week high of $43.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.24. The company has a market cap of $92.46 billion, a P/E ratio of 14.39, a PEG ratio of 1.97 and a beta of 0.03.

Equinor ASA (NYSE:EQNR) last announced its earnings results on Tuesday, May 5th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.47. Equinor ASA had a net margin of 5.30% and a return on equity of 20.01%. The firm had revenue of $28.40 billion for the quarter, compared to analysts’ expectations of $28.73 billion. As a group, equities research analysts anticipate that Equinor ASA will post 5.01 EPS for the current fiscal year.

Institutional Trading of Equinor ASA

Institutional investors have recently made changes to their positions in the business. Mirabella Financial Services LLP purchased a new position in Equinor ASA during the 3rd quarter worth $730,757,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Equinor ASA by 599.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,966,671 shares of the company’s stock worth $547,194,000 after acquiring an additional 11,112,362 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Equinor ASA by 30.2% during the third quarter. Bank of America Corp DE now owns 15,759,942 shares of the company’s stock valued at $384,227,000 after acquiring an additional 3,659,611 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Equinor ASA by 1,437.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,286,328 shares of the company’s stock valued at $55,741,000 after purchasing an additional 2,137,642 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in Equinor ASA in the 3rd quarter worth approximately $21,366,000. Institutional investors and hedge funds own 5.51% of the company’s stock.

About Equinor ASA

Equinor ASA (NYSE: EQNR) is a Norway-based integrated energy company headquartered in Stavanger. Historically established as Statoil in the 1970s to develop Norway’s petroleum resources, the company changed its name to Equinor in 2018 to reflect a strategic shift toward a broader energy portfolio. Equinor’s operations span the full upstream value chain, including exploration, development and production of oil and natural gas, alongside trading and marketing activities that support its global commercial operations.

In recent years Equinor has pursued a transition strategy that combines continued development of conventional oil and gas resources with growing investments in low‑carbon energy.