Equinor ASA (NYSE:EQNR) Receives $28.25 Average Target Price from Brokerages

Equinor ASA (NYSE:EQNR) has been given an average rating of “Reduce” by the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $28.25.

Several analysts recently weighed in on EQNR shares. StockNews.com raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. DZ Bank cut shares of Equinor ASA from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. TD Cowen started coverage on shares of Equinor ASA in a report on Wednesday, April 24th. They issued a “hold” rating and a $28.00 target price on the stock. Finally, Morgan Stanley raised shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $26.40 to $28.50 in a report on Tuesday, February 20th.

Equinor ASA Stock Down 0.0 %

Shares of EQNR opened at $28.54 on Friday. The stock has a market capitalization of $89.10 billion, a PE ratio of 8.84, a P/E/G ratio of 3.77 and a beta of 0.85. Equinor ASA has a 1 year low of $24.44 and a 1 year high of $34.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.76 and a current ratio of 1.88. The company’s 50-day simple moving average is $27.60 and its 200-day simple moving average is $28.77.

Equinor ASA (NYSE:EQNR) last issued its earnings results on Thursday, April 25th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.18. The firm had revenue of $25.14 billion for the quarter, compared to analysts’ expectations of $25.03 billion. Equinor ASA had a net margin of 9.30% and a return on equity of 19.67%. Analysts forecast that Equinor ASA will post 3.5 earnings per share for the current fiscal year.

Equinor ASA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Thursday, May 16th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.20 annualized dividend and a yield of 4.20%. Equinor ASA’s dividend payout ratio is currently 35.60%.

Hedge Funds Weigh In On Equinor ASA

Several hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Equinor ASA by 2,359.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,783,338 shares of the company’s stock worth $183,354,000 after acquiring an additional 6,507,511 shares during the last quarter. Folketrygdfondet grew its position in shares of Equinor ASA by 0.9% during the fourth quarter. Folketrygdfondet now owns 107,959,982 shares of the company’s stock worth $3,415,854,000 after acquiring an additional 917,330 shares during the last quarter. FMR LLC grew its position in shares of Equinor ASA by 4.5% during the third quarter. FMR LLC now owns 10,284,862 shares of the company’s stock worth $337,241,000 after acquiring an additional 444,435 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Equinor ASA by 39.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,045,722 shares of the company’s stock worth $33,105,000 after acquiring an additional 295,162 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Equinor ASA by 9.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,432,242 shares of the company’s stock worth $108,596,000 after acquiring an additional 285,662 shares during the last quarter. 5.51% of the stock is currently owned by hedge funds and other institutional investors.

About Equinor ASA

Equinor ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and other forms of energy in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; Renewables; and Other segments.