Equinor ASA (NYSE:EQNR) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Equinor ASA (NYSE:EQNR) from a hold rating to a buy rating in a research note released on Saturday.

A number of other brokerages have also recently commented on EQNR. Pareto Securities cut Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 27th. Rothschild & Co Redburn raised shares of Equinor ASA from a “strong sell” rating to a “hold” rating in a report on Thursday, April 9th. TD Cowen boosted their price objective on Equinor ASA from $37.00 to $38.00 and gave the stock a “hold” rating in a report on Friday. DZ Bank upgraded shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Finally, Zacks Research downgraded shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $39.20.

Equinor ASA Price Performance

Equinor ASA stock opened at $40.38 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.18 and a debt-to-equity ratio of 0.56. The stock has a market cap of $118.91 billion, a P/E ratio of 11.00, a P/E/G ratio of 2.58 and a beta of 0.06. The company’s 50 day moving average price is $35.69 and its two-hundred day moving average price is $33.96. Equinor ASA has a 52 week low of $22.26 and a 52 week high of $43.46.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.06). The business had revenue of $34.02 billion during the quarter, compared to analysts’ expectations of $34.03 billion. Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%. On average, equities analysts predict that Equinor ASA will post 4.85 earnings per share for the current year.

Equinor ASA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Friday, August 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, August 14th. Equinor ASA’s dividend payout ratio (DPR) is currently 34.88%.

Institutional Trading of Equinor ASA

A number of hedge funds have recently bought and sold shares of EQNR. UMB Bank n.a. grew its position in Equinor ASA by 1,794.0% during the fourth quarter. UMB Bank n.a. now owns 1,269 shares of the company’s stock valued at $30,000 after acquiring an additional 1,202 shares during 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 acquiring an additional 610 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Equinor ASA in the 1st quarter worth approximately $35,000. Eastern Bank purchased a new stake in shares of Equinor ASA in the 2nd quarter valued at $35,000. Finally, McIlrath & Eck LLC purchased a new stake in shares of Equinor ASA in the 2nd quarter valued at $36,000. Institutional investors own 5.51% of the company’s stock.

More Equinor ASA News

Here are the key news stories impacting Equinor ASA this week:

• Positive Sentiment: Wall Street Zen raised Equinor ASA (NYSE: EQNR) to Buy, which could support sentiment if investors see more upside from current levels. Equinor ASA (NYSE:EQNR) Raised to Buy at Wall Street Zen
• Positive Sentiment: Royal Bank of Canada upgraded Equinor ASA (NYSE: EQNR) to Sector Perform, a modestly better stance than a lower-rated view and a sign that some analysts see the shares as reasonably valued. Equinor ASA (NYSE:EQNR) Raised to Sector Perform at Royal Bank Of Canada
• Positive Sentiment: TD Cowen raised its price target on Equinor ASA (NYSE: EQNR) from $37 to $38, suggesting some analysts still expect the stock to hold near its current range even after recent volatility. EQNR Q2 Earnings Miss Estimates, Revenues Rise Y/Y on Higher Output

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.