Brokerages Set Equinor ASA (NYSE:EQNR) Price Target at $26.90

Equinor ASA (NYSE:EQNR) has received an average recommendation of “Reduce” from the eight analysts that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $26.90.

A number of research analysts have commented on the stock. UBS Group upgraded shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research note on Thursday, August 8th. Morgan Stanley downgraded Equinor ASA from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $30.50 to $25.80 in a research note on Thursday, August 29th. TD Cowen lowered their price objective on Equinor ASA from $30.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, July 10th. Finally, StockNews.com downgraded Equinor ASA from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 29th.

Equinor ASA Stock Up 1.6 %

Shares of Equinor ASA stock opened at $25.26 on Thursday. Equinor ASA has a 1-year low of $24.08 and a 1-year high of $34.73. The company has a market capitalization of $74.38 billion, a PE ratio of 7.82, a P/E/G ratio of 3.44 and a beta of 0.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.53 and a quick ratio of 1.43. The business has a 50-day moving average of $26.28 and a 200-day moving average of $27.17.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. The company had revenue of $25.54 billion for the quarter, compared to the consensus estimate of $25.93 billion. Equinor ASA had a return on equity of 20.65% and a net margin of 9.11%. During the same period in the previous year, the business earned $0.74 EPS. As a group, equities analysts forecast that Equinor ASA will post 3.33 EPS for the current fiscal year.

Equinor ASA Cuts Dividend

The business also recently announced a — dividend, which was paid on Wednesday, August 28th. Shareholders of record on Monday, August 19th were paid a $0.35 dividend. The ex-dividend date was Monday, August 19th. This represents a yield of 4.1%. Equinor ASA’s payout ratio is currently 43.34%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC acquired a new position in Equinor ASA during the 2nd quarter valued at about $205,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Equinor ASA by 1.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 862,570 shares of the company’s stock valued at $24,635,000 after buying an additional 11,500 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Equinor ASA by 52.7% during the second quarter. Cetera Investment Advisers now owns 69,718 shares of the company’s stock worth $1,991,000 after buying an additional 24,052 shares during the period. Truist Financial Corp grew its holdings in Equinor ASA by 9.2% in the 2nd quarter. Truist Financial Corp now owns 13,900 shares of the company’s stock worth $397,000 after buying an additional 1,167 shares in the last quarter. Finally, Chase Investment Counsel Corp acquired a new stake in Equinor ASA in the 2nd quarter valued at approximately $1,085,000. Institutional investors and hedge funds own 5.51% of the company’s stock.

Equinor ASA Company Profile

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.