Brokerages Set Equinor ASA (NYSE:EQNR) PT at $39.20

Equinor ASA (NYSE:EQNR) has earned a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $39.20.

EQNR has been the subject of several analyst reports. Royal Bank Of Canada upgraded Equinor ASA from an “underperform” rating to a “sector perform” rating in a research note on Thursday, July 23rd. Wall Street Zen raised shares of Equinor ASA from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 12th. TD Cowen raised their price objective on shares of Equinor ASA from $37.00 to $38.00 and gave the company a “hold” rating in a research report on Friday, July 24th. Weiss Ratings raised shares of Equinor ASA from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Finally, Zacks Research cut shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th.

Institutional Investors Weigh In On Equinor ASA

A number of institutional investors and hedge funds have recently made changes to their positions in EQNR. Sequoia Financial Advisors LLC raised its position in shares of Equinor ASA by 2.6% in the second quarter. Sequoia Financial Advisors LLC now owns 36,842 shares of the company’s stock worth $1,157,000 after buying an additional 923 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Equinor ASA during the second quarter worth about $1,195,000. Integrated Wealth Concepts LLC grew its position in Equinor ASA by 50.4% during the second quarter. Integrated Wealth Concepts LLC now owns 24,266 shares of the company’s stock worth $762,000 after buying an additional 8,136 shares in the last quarter. Baird Financial Group Inc. increased its stake in Equinor ASA by 38.3% in the 2nd quarter. Baird Financial Group Inc. now owns 11,527 shares of the company’s stock worth $362,000 after acquiring an additional 3,195 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in Equinor ASA in the 2nd quarter worth about $301,000. Hedge funds and other institutional investors own 5.51% of the company’s stock.

Equinor ASA Trading Down 3.4%

Shares of EQNR stock opened at $44.20 on Monday. The company’s fifty day simple moving average is $40.70 and its two-hundred day simple moving average is $38.14. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.18 and a quick ratio of 1.10. Equinor ASA has a 1 year low of $22.26 and a 1 year high of $45.84. The stock has a market capitalization of $105.66 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 2.17 and a beta of 0.03.

Equinor ASA (NYSE:EQNR) last posted its earnings results on Tuesday, July 21st. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.06). The company had revenue of $34.02 billion for the quarter, compared to analysts’ expectations of $34.03 billion. Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%. As a group, analysts anticipate that Equinor ASA will post 5.22 earnings per share for the current year.

Equinor ASA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, November 16th. Equinor ASA’s payout ratio is 34.88%.

Equinor ASA Company Profile

Equinor ASA is a Norwegian energy company engaged primarily in the exploration, development, production and marketing of oil and natural gas. The company also supplies crude oil, natural gas, refined petroleum products and electricity, and participates in energy trading and related activities.

Equinor has expanded beyond its traditional petroleum business into lower-carbon energy, including offshore wind, carbon capture and storage, and hydrogen-related projects. Its operations and partnerships span several regions, with significant activities on the Norwegian continental shelf as well as projects in Europe, North America, South America and other international markets.

The company was established in 1972 as Den norske stats oljeselskap, commonly known as Statoil, and adopted the name Equinor in 2018 to reflect its broader energy strategy.