TD Cowen Forecasts Strong Price Appreciation for Equinor ASA (NYSE:EQNR) Stock

Equinor ASA (NYSE:EQNR) had its target price lifted by stock analysts at TD Cowen from $25.00 to $37.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price would suggest a potential downside of 10.26% from the company’s current price.

EQNR has been the subject of a number of other reports. Pareto Securities raised Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. UBS Group raised shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Friday. Bank of America lowered shares of Equinor ASA from a “buy” rating to a “neutral” rating in a research note on Thursday, February 5th. Jefferies Financial Group assumed coverage on shares of Equinor ASA in a research note on Thursday, January 8th. They set a “hold” rating on the stock. Finally, Weiss Ratings upgraded shares of Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $28.71.

Equinor ASA Trading Up 1.8%

EQNR traded up $0.72 during trading on Friday, reaching $41.23. 6,055,478 shares of the stock traded hands, compared to its average volume of 6,874,750. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The stock’s 50-day moving average is $28.91 and its 200 day moving average is $25.58. Equinor ASA has a 12 month low of $21.41 and a 12 month high of $42.06. The stock has a market capitalization of $121.41 billion, a PE ratio of 21.66, a P/E/G ratio of 4.38 and a beta of 0.35.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.21. The firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $21.31 billion. Equinor ASA had a return on equity of 15.23% and a net margin of 4.74%. Equities analysts anticipate that Equinor ASA will post 3.46 earnings per share for the current year.

Hedge Funds Weigh In On Equinor ASA

Large investors have recently modified their holdings of the company. UMB Bank n.a. raised its holdings in shares of Equinor ASA by 1,794.0% in the fourth quarter. UMB Bank n.a. now owns 1,269 shares of the company’s stock valued at $30,000 after purchasing an additional 1,202 shares during the last quarter. Global Retirement Partners LLC increased its stake in Equinor ASA by 86.2% in the 4th 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 last quarter. McIlrath & Eck LLC purchased a new stake in Equinor ASA in the 2nd quarter valued at about $36,000. Sound Income Strategies LLC lifted its position in shares of Equinor ASA by 119.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,876 shares of the company’s stock worth $48,000 after buying an additional 1,020 shares in the last quarter. Finally, MAI Capital Management lifted its position in shares of Equinor ASA by 55.6% during the 2nd quarter. MAI Capital Management now owns 2,339 shares of the company’s stock worth $59,000 after buying an additional 836 shares in the last quarter. 5.51% of the stock is currently owned by institutional investors.

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.