Equinor ASA (NYSE:EQNR) Shares Gap Up – Here’s Why

Equinor ASA (NYSE:EQNR)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $38.27, but opened at $40.88. Equinor ASA shares last traded at $40.7110, with a volume of 874,764 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Royal Bank Of Canada raised Equinor ASA from an “underperform” rating to a “sector perform” rating in a research note on Thursday, July 23rd. Rothschild & Co Redburn raised Equinor ASA from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 9th. TD Cowen increased their target price on Equinor ASA from $37.00 to $38.00 and gave the company a “hold” rating in a report on Friday, July 24th. DZ Bank upgraded Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, Zacks Research lowered Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Equinor ASA presently has a consensus rating of “Hold” and an average price target of $39.20.

Equinor ASA Stock Up 6.5%

The company has a market capitalization of $120.00 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 2.55 and a beta of 0.06. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average is $35.62 and its 200 day moving average is $34.25.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). The firm had revenue of $34.02 billion during the quarter, compared to the consensus estimate of $34.03 billion. Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%. Research analysts predict that Equinor ASA will post 4.9 EPS for the current fiscal year.

Equinor ASA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 16th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, November 16th. Equinor ASA’s payout ratio is currently 34.88%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. grew its position in shares of Equinor ASA by 1,794.0% in the 4th quarter. UMB Bank n.a. now owns 1,269 shares of the company’s stock worth $30,000 after buying an additional 1,202 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Equinor ASA by 86.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,318 shares of the company’s stock valued at $31,000 after buying an additional 610 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in shares of Equinor ASA during the first quarter valued at approximately $35,000. Eastern Bank bought a new position in shares of Equinor ASA during the second quarter valued at approximately $35,000. Finally, McIlrath & Eck LLC purchased a new stake in Equinor ASA in the second quarter worth $36,000. Institutional investors 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.