Equinor ASA (NYSE:EQNR) Earns Hold Rating from Analysts at TD Cowen

TD Cowen assumed coverage on shares of Equinor ASA (NYSE:EQNR) in a research note released on Wednesday, Marketbeat.com reports. The firm issued a hold rating and a $28.00 target price on the stock.

Other equities research analysts have also issued research reports about the company. StockNews.com raised Equinor ASA from a hold rating to a buy rating in a report on Friday, March 22nd. DZ Bank lowered Equinor ASA from a buy rating to a hold rating in a research note on Thursday, February 8th. Finally, Morgan Stanley raised Equinor ASA from an underweight rating to an equal weight rating and boosted their price target for the stock from $26.40 to $28.50 in a research note on Tuesday, February 20th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $28.25.

Equinor ASA Stock Performance

Shares of EQNR stock opened at $27.10 on Wednesday. The stock has a market capitalization of $84.59 billion, a PE ratio of 6.93, a price-to-earnings-growth ratio of 7.91 and a beta of 0.85. Equinor ASA has a 52-week low of $24.44 and a 52-week high of $34.73. The stock’s 50-day moving average price is $26.52 and its 200 day moving average price is $29.59. The company has a quick ratio of 1.60, a current ratio of 1.71 and a debt-to-equity ratio of 0.51.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.44). The company had revenue of $29.05 billion during the quarter, compared to analyst estimates of $27.35 billion. Equinor ASA had a net margin of 11.09% and a return on equity of 20.32%. As a group, equities research analysts forecast that Equinor ASA will post 3.33 EPS for the current year.

Equinor ASA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Wednesday, May 15th. Equinor ASA’s dividend payout ratio (DPR) is 25.06%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. First Trust Direct Indexing L.P. raised its position in shares of Equinor ASA by 1.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 24,548 shares of the company’s stock worth $805,000 after purchasing an additional 355 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in Equinor ASA by 4.4% in the 3rd quarter. Panagora Asset Management Inc. now owns 9,570 shares of the company’s stock valued at $314,000 after acquiring an additional 400 shares during the last quarter. Peapack Gladstone Financial Corp raised its holdings in Equinor ASA by 3.8% in the 4th quarter. Peapack Gladstone Financial Corp now owns 10,936 shares of the company’s stock valued at $345,000 after acquiring an additional 400 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Equinor ASA by 1.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 37,489 shares of the company’s stock valued at $1,186,000 after acquiring an additional 481 shares during the last quarter. Finally, 180 Wealth Advisors LLC raised its holdings in Equinor ASA by 7.0% in the 3rd quarter. 180 Wealth Advisors LLC now owns 7,490 shares of the company’s stock valued at $246,000 after acquiring an additional 490 shares during the last quarter. 5.51% of the stock is currently owned by institutional investors and hedge funds.

About Equinor ASA

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.