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

Equinor ASA (NYSE:EQNR) has received a consensus recommendation of “Reduce” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $26.90.

EQNR has been the topic of several recent research reports. StockNews.com cut Equinor ASA from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 29th. TD Cowen lowered their price objective on Equinor ASA from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, July 10th. Morgan Stanley downgraded Equinor ASA from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $30.50 to $25.80 in a research note on Thursday, August 29th. Finally, UBS Group raised shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Thursday, August 8th.

Institutional Trading of Equinor ASA

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

Equinor ASA Price Performance

Shares of EQNR opened at $24.86 on Thursday. The stock has a 50 day moving average price of $26.32 and a 200 day moving average price of $27.17. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.43 and a current ratio of 1.53. The stock has a market capitalization of $69.43 billion, a price-to-earnings ratio of 7.70, a PEG ratio of 3.44 and a beta of 0.83. Equinor ASA has a one year low of $24.08 and a one year high of $34.73.

Equinor ASA (NYSE:EQNR) last issued its earnings results on Wednesday, July 24th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $25.54 billion during the quarter, compared to analysts’ expectations of $25.93 billion. Equinor ASA had a net margin of 9.11% and a return on equity of 20.65%. During the same period in the prior year, the business earned $0.74 earnings per share. Equities research analysts forecast that Equinor ASA will post 3.33 earnings per share for the current fiscal year.

Equinor ASA Cuts Dividend

The firm also recently announced a — dividend, which was paid on Wednesday, August 28th. Shareholders of record on Monday, August 19th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a yield of 4.1%. Equinor ASA’s dividend payout ratio is currently 36.84%.

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.