Equinor ASA (NYSE:EQNR) Stock Has Average Target Price of $43.47

Equinor ASA (NYSE:EQNR) has received an average recommendation of “Hold” from the eighteen ratings firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $43.47.

EQNR has been the topic of several analyst reports. Morgan Stanley downgraded shares of Equinor ASA from an “equal weight” rating to an “underweight” rating in a research note on Friday. Wall Street Zen cut shares of Equinor ASA from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 24th. Bank of America upgraded Equinor ASA from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Friday, September 18th. Zacks Research raised Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 25th. Finally, Royal Bank Of Canada raised Equinor ASA from an “underperform” rating to a “sector perform” rating in a research report on Thursday, July 23rd.

Institutional Investors Weigh In On Equinor ASA

Hedge funds have recently bought and sold shares of the business. DJE Kapital AG acquired a new position in Equinor ASA during the 1st quarter worth $2,913,000. Equitable Holdings Inc. bought a new stake in shares of Equinor ASA in the 2nd quarter worth about $893,000. GTS Securities LLC bought a new stake in shares of Equinor ASA in the 2nd quarter worth about $2,162,000. XY Capital Ltd acquired a new stake in shares of Equinor ASA in the 2nd quarter valued at about $823,000. Finally, Gibbs Wealth Management acquired a new stake in shares of Equinor ASA in the 1st quarter valued at about $1,189,000. Institutional investors and hedge funds own 5.51% of the company’s stock.

Equinor ASA Stock Down 1.3%

Shares of NYSE:EQNR opened at $41.98 on Tuesday. The company has a market capitalization of $100.38 billion, a price-to-earnings ratio of 8.73, a price-to-earnings-growth ratio of 1.17 and a beta of 0.12. The company has a 50 day moving average of $44.21 and a two-hundred day moving average of $37.90. Equinor ASA has a 52-week low of $22.26 and a 52-week high of $49.08. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.53.

Equinor ASA (NYSE:EQNR) last posted its earnings results on Tuesday, October 27th. The company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.18). The firm had revenue of $32.96 billion for the quarter, compared to analyst estimates of $33.30 billion. Equinor ASA had a return on equity of 27.45% and a net margin of 9.71%. As a group, analysts forecast that Equinor ASA will post 5.67 earnings per share for the current fiscal year.

About Equinor ASA

Equinor ASA is a Norwegian energy company headquartered in Stavanger. Founded in 1972 as the state-owned Den Norske Stats Oljeselskap, it later operated as Statoil before adopting the Equinor name in 2018. The Norwegian state remains its majority owner.

The company’s core business is the exploration, development, and production of oil and natural gas, with a substantial focus on the Norwegian Continental Shelf. Equinor also markets and trades energy products and operates across international markets, including in Europe and North America.

Alongside its oil and gas activities, Equinor develops renewable energy projects, particularly offshore wind, and pursues lower-carbon energy solutions.