Analysts Set Equinor ASA (NYSE:EQNR) Price Target at $39.20

Equinor ASA (NYSE:EQNR) has been assigned a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $39.20.

A number of research firms have recently commented on EQNR. DZ Bank upgraded Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Rothschild & Co Redburn raised Equinor ASA from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 9th. Wall Street Zen upgraded Equinor ASA from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Weiss Ratings raised Equinor ASA from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Finally, Zacks Research lowered Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th.

Hedge Funds Weigh In On Equinor ASA

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its stake in Equinor ASA by 30.2% during the 3rd quarter. Bank of America Corp DE now owns 15,759,942 shares of the company’s stock worth $384,227,000 after purchasing an additional 3,659,611 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Equinor ASA by 599.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,966,671 shares of the company’s stock valued at $547,194,000 after purchasing an additional 11,112,362 shares during the period. Morgan Stanley increased its stake in Equinor ASA by 5.6% in the fourth quarter. Morgan Stanley now owns 9,250,933 shares of the company’s stock valued at $218,600,000 after purchasing an additional 493,801 shares during the period. Earnest Partners LLC raised its holdings in shares of Equinor ASA by 10.3% in the fourth quarter. Earnest Partners LLC now owns 4,288,512 shares of the company’s stock valued at $101,338,000 after buying an additional 401,424 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Equinor ASA by 0.7% in the third quarter. Wellington Management Group LLP now owns 3,852,448 shares of the company’s stock valued at $93,923,000 after buying an additional 25,250 shares during the last quarter. 5.51% of the stock is owned by institutional investors and hedge funds.

Equinor ASA Trading Down 0.5%

NYSE EQNR opened at $40.74 on Friday. The firm’s fifty day moving average price is $35.70 and its 200 day moving average price is $34.49. Equinor ASA has a 12 month low of $22.26 and a 12 month high of $43.46. 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 company has a market capitalization 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.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). Equinor ASA had a net margin of 7.92% and a return on equity of 23.60%. The company had revenue of $34.02 billion during the quarter, compared to analysts’ expectations of $34.03 billion. On average, sell-side analysts expect that Equinor ASA will post 4.93 earnings per share for the current fiscal year.

Equinor ASA Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, November 16th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.8%. Equinor ASA’s dividend payout ratio (DPR) is 34.88%.

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.