Equinor ASA (NYSE:EQNR) Given Average Recommendation of “Hold” by Brokerages

Equinor ASA (NYSE:EQNR) has earned a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $42.4667.

EQNR has been the subject of a number of research analyst reports. Royal Bank Of Canada raised Equinor ASA from an “underperform” rating to a “sector perform” rating in a report on Thursday, July 23rd. Zacks Research downgraded Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. TD Cowen upped their price objective on 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 Equinor ASA from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen raised Equinor ASA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 12th.

Hedge Funds Weigh In On Equinor ASA

Institutional investors have recently modified their holdings of the stock. Inspire Investing LLC grew its stake in Equinor ASA by 4.5% during 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. Assetmark Inc. boosted its holdings in shares of Equinor ASA by 130.2% during the 1st quarter. Assetmark Inc. now owns 1,036 shares of the company’s stock worth $44,000 after purchasing an additional 586 shares during the last quarter. Independent Advisor Alliance boosted its holdings in shares of Equinor ASA by 3.4% during the 4th quarter. Independent Advisor Alliance now owns 21,468 shares of the company’s stock worth $507,000 after purchasing an additional 701 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Equinor ASA by 1.5% in the fourth quarter. Corient Private Wealth LLC now owns 50,157 shares of the company’s stock valued at $1,185,000 after purchasing an additional 723 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in shares of Equinor ASA in the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 5.51% of the company’s stock.

Equinor ASA Price Performance

Shares of Equinor ASA stock opened at $44.06 on Monday. The business’s 50 day simple moving average is $41.11 and its two-hundred day simple moving average is $38.33. The stock has a market capitalization of $105.34 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 2.08 and a beta of 0.03. 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 one year low of $22.26 and a one year high of $45.84.

Equinor ASA (NYSE:EQNR) last announced its earnings results on Tuesday, July 21st. The company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). The business had revenue of $34.02 billion for the quarter, compared to the consensus estimate of $34.03 billion. Equinor ASA had a net margin of 7.92% and a return on equity of 23.60%. Analysts forecast that Equinor ASA will post 5.27 EPS for the current year.

Equinor ASA Dividend Announcement

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

About Equinor ASA

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.