Equinor ASA (NYSE:EQNR) Shares Gap Up – What’s Next?

Equinor ASA (NYSE:EQNR) shares 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 changing hands.

Analyst Ratings Changes

Several brokerages have issued reports on EQNR. TD Cowen lifted their price target on shares of Equinor ASA from $37.00 to $38.00 and gave the company a “hold” rating in a research note on Friday, July 24th. Rothschild & Co Redburn upgraded Equinor ASA from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 9th. Weiss Ratings upgraded shares of Equinor ASA from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada raised Equinor ASA from an “underperform” rating to a “sector perform” rating in a report on Thursday, July 23rd. Finally, Wall Street Zen upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Equinor ASA currently has an average rating of “Hold” and an average target price of $39.20.

Equinor ASA Price Performance

The stock has a market cap of $119.98 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 2.70 and a beta of 0.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.18 and a quick ratio of 1.10. The business’s 50-day simple moving average is $35.70 and its two-hundred day simple moving average is $34.49.

Equinor ASA (NYSE:EQNR) last issued its 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). Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%.The firm had revenue of $34.02 billion during the quarter, compared to analyst estimates of $34.03 billion. Research analysts expect that Equinor ASA will post 4.93 earnings per share for the current year.

Equinor ASA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 16th will be issued a $0.39 dividend. 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 dividend payout ratio is presently 34.88%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Blair William & Co. IL raised its position in shares of Equinor ASA by 2.7% in the 4th quarter. Blair William & Co. IL now owns 14,837 shares of the company’s stock worth $351,000 after acquiring an additional 389 shares in the last quarter. National Bank of Canada FI raised its position in shares of Equinor ASA by 1.1% during the third quarter. National Bank of Canada FI now owns 39,045 shares of the company’s stock worth $952,000 after purchasing an additional 437 shares during the period. TD Asset Management Inc lifted its stake in shares of Equinor ASA by 5.4% in the fourth quarter. TD Asset Management Inc now owns 9,711 shares of the company’s stock valued at $229,000 after buying an additional 501 shares in the last quarter. Inspire Investing LLC lifted its position in Equinor ASA by 4.5% in the 1st quarter. Inspire Investing LLC now owns 11,657 shares of the company’s stock valued at $492,000 after acquiring an additional 503 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Equinor ASA by 20.6% in the fourth quarter. CWM LLC now owns 3,051 shares of the company’s stock valued at $72,000 after purchasing an additional 522 shares in the last quarter. Institutional investors own 5.51% of the company’s stock.

Equinor ASA Company Profile

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.