Equinor ASA (NYSE:EQNR) Shares Gap Down – Here’s Why

Equinor ASA (NYSE:EQNR)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $25.67, but opened at $24.91. Equinor ASA shares last traded at $24.6110, with a volume of 1,607,172 shares.

Analysts Set New Price Targets

EQNR has been the topic of a number of research analyst reports. Weiss Ratings raised Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Barclays restated an “underweight” rating on shares of Equinor ASA in a report on Friday, October 31st. DZ Bank lowered shares of Equinor ASA from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, October 8th. Jefferies Financial Group started coverage on shares of Equinor ASA in a research note on Thursday, January 8th. They issued a “hold” rating on the stock. Finally, Zacks Research lowered shares of Equinor ASA from a “hold” rating to a “strong sell” rating in a research report on Thursday, December 11th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $22.71.

Equinor ASA Price Performance

The stock has a market cap of $72.57 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 3.07 and a beta of 0.36. The stock’s fifty day moving average is $23.48 and its 200-day moving average is $24.28. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.48 and a quick ratio of 1.38.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.20). The business had revenue of $26.06 billion for the quarter, compared to analysts’ expectations of $23.26 billion. Equinor ASA had a return on equity of 14.34% and a net margin of 5.27%. As a group, equities analysts anticipate that Equinor ASA will post 3.46 EPS for the current year.

Equinor ASA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, February 17th. Equinor ASA’s dividend payout ratio (DPR) is currently 57.82%.

Institutional Investors Weigh In On Equinor ASA

A number of hedge funds have recently bought and sold shares of EQNR. Sound Income Strategies LLC boosted its holdings in shares of Equinor ASA by 119.2% in the fourth quarter. Sound Income Strategies LLC now owns 1,876 shares of the company’s stock valued at $48,000 after acquiring an additional 1,020 shares during the period. Sowell Financial Services LLC increased its position in Equinor ASA by 15.4% during the fourth quarter. Sowell Financial Services LLC now owns 11,298 shares of the company’s stock worth $267,000 after buying an additional 1,505 shares in the last quarter. Perigon Wealth Management LLC raised its stake in Equinor ASA by 29.9% in the 4th quarter. Perigon Wealth Management LLC now owns 16,416 shares of the company’s stock valued at $388,000 after purchasing an additional 3,775 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of Equinor ASA by 2.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 26,533 shares of the company’s stock valued at $627,000 after buying an additional 554 shares during the period. Finally, Compagnie Lombard Odier SCmA purchased a new position in shares of Equinor ASA during the 4th quarter worth $83,000. Institutional investors and hedge funds own 5.51% of the company’s stock.

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.