Equinor ASA (NYSE:EQNR) Hits New 1-Year High – Here’s Why

Equinor ASA (NYSE:EQNR)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $29.53 and last traded at $29.3450, with a volume of 1462777 shares changing hands. The stock had previously closed at $29.16.

Analysts Set New Price Targets

Several research firms recently issued reports on EQNR. Jefferies Financial Group initiated coverage on Equinor ASA in a research report on Thursday, January 8th. They set a “hold” rating for the company. Zacks Research upgraded Equinor ASA from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Weiss Ratings upgraded shares of Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Barclays reiterated an “underweight” rating on shares of Equinor ASA in a research note on Friday, October 31st. Finally, Bank of America lowered Equinor ASA from a “buy” rating to a “neutral” rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, Equinor ASA currently has an average rating of “Reduce” and an average price target of $24.71.

Equinor ASA Trading Up 3.0%

The stock has a fifty day moving average of $25.85 and a 200-day moving average of $24.63. The company has a market cap of $87.83 billion, a PE ratio of 15.70, a PEG ratio of 3.56 and a beta of 0.38. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.27.

Equinor ASA (NYSE:EQNR) last released its earnings results on Wednesday, February 4th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.21. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $21.31 billion. Equinor ASA had a return on equity of 15.23% and a net margin of 4.74%. Sell-side analysts anticipate that Equinor ASA will post 3.46 EPS for the current fiscal year.

Equinor ASA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th will be given a $0.39 dividend. This is a positive change from Equinor ASA’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.56 annualized dividend and a yield of 5.2%. Equinor ASA’s dividend payout ratio is presently 64.21%.

Institutional Trading of Equinor ASA

Several institutional investors and hedge funds have recently modified their holdings of EQNR. UMB Bank n.a. grew its stake in Equinor ASA by 1,794.0% in the fourth quarter. UMB Bank n.a. now owns 1,269 shares of the company’s stock worth $30,000 after purchasing an additional 1,202 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Equinor ASA by 86.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,318 shares of the company’s stock worth $31,000 after buying an additional 610 shares during the period. McIlrath & Eck LLC bought a new position in shares of Equinor ASA during the 2nd quarter worth $36,000. Sound Income Strategies LLC increased its stake in shares of Equinor ASA by 119.2% during the fourth quarter. Sound Income Strategies LLC now owns 1,876 shares of the company’s stock valued at $48,000 after buying an additional 1,020 shares during the period. Finally, MAI Capital Management raised its holdings in shares of Equinor ASA by 55.6% in the second quarter. MAI Capital Management now owns 2,339 shares of the company’s stock valued at $59,000 after acquiring an additional 836 shares in the last quarter. Institutional investors own 5.51% of the company’s stock.

Equinor ASA Company Profile

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.