Equinor ASA (NYSE:EQNR) Stock Price Expected to Rise, TD Cowen Analyst Says

Equinor ASA (NYSE:EQNR) had its price objective boosted by investment analysts at TD Cowen from $38.00 to $40.00 in a note issued to investors on Thursday, MarketBeat.com reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price target would indicate a potential upside of 9.03% from the company’s current price.

Other equities analysts have also issued reports about the company. Morgan Stanley raised Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $40.40 price target on the stock in a research note on Tuesday, March 24th. Pareto Securities lowered shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 27th. Weiss Ratings upgraded shares of Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Bank of America lowered shares of Equinor ASA from a “buy” rating to a “neutral” rating in a research note on Thursday, February 5th. Finally, Rothschild & Co Redburn upgraded shares of Equinor ASA from a “strong sell” rating to a “hold” rating in a report on Thursday, April 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.61.

Equinor ASA Stock Performance

EQNR stock opened at $36.69 on Thursday. The firm has a market cap of $108.03 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 1.22 and a beta of 0.07. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $37.42 and a 200-day moving average price of $29.11. Equinor ASA has a 1-year low of $22.26 and a 1-year high of $43.46.

Equinor ASA (NYSE:EQNR) last announced its earnings results on Wednesday, May 6th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.01 by $0.47. Equinor ASA had a return on equity of 20.01% and a net margin of 5.30%.The company had revenue of $28.40 billion for the quarter, compared to analyst estimates of $28.73 billion. As a group, equities research analysts expect that Equinor ASA will post 4.95 earnings per share for the current year.

Institutional Trading of Equinor ASA

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mirabella Financial Services LLP bought a new position in shares of Equinor ASA in the third quarter valued at $730,757,000. Bank of America Corp DE raised its holdings in shares of Equinor ASA by 30.2% in the 3rd quarter. Bank of America Corp DE now owns 15,759,942 shares of the company’s stock worth $384,227,000 after acquiring an additional 3,659,611 shares during the last quarter. Morgan Stanley raised its holdings in shares of Equinor ASA by 5.6% in the 4th quarter. Morgan Stanley now owns 9,250,933 shares of the company’s stock worth $218,600,000 after acquiring an additional 493,801 shares during the last quarter. Earnest Partners LLC lifted its position in Equinor ASA by 10.3% in the 4th quarter. Earnest Partners LLC now owns 4,288,512 shares of the company’s stock valued at $101,338,000 after acquiring an additional 401,424 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Equinor ASA by 0.7% in the 3rd quarter. Wellington Management Group LLP now owns 3,852,448 shares of the company’s stock valued at $93,923,000 after acquiring an additional 25,250 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.