HSBC Reiterates $19.76 Price Target for Equinor ASA (NYSE:EQNR)

Equinor ASA (NYSE:EQNR) has been assigned a $19.76 price target by investment analysts at HSBC in a research note issued on Thursday, The Fly reports. The brokerage presently has a “hold” rating on the stock. HSBC’s target price indicates a potential upside of 0.61% from the company’s current price.

A number of other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Equinor ASA from a “strong-buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Tuesday, May 4th. UBS Group restated a “neutral” rating on shares of Equinor ASA in a research report on Friday, June 18th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Equinor ASA in a research report on Tuesday, July 6th. Danske lowered shares of Equinor ASA from a “buy” rating to a “hold” rating in a report on Wednesday, June 16th. Finally, Exane BNP Paribas downgraded shares of Equinor ASA from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the stock. Equinor ASA has a consensus rating of “Hold” and an average target price of $23.59.

Shares of EQNR traded down $0.04 during trading hours on Thursday, reaching $19.64. 80,838 shares of the company traded hands, compared to its average volume of 1,829,918. Equinor ASA has a 1-year low of $12.11 and a 1-year high of $23.36. The company has a current ratio of 1.74, a quick ratio of 1.58 and a debt-to-equity ratio of 0.87. The firm has a market cap of $63.76 billion, a PE ratio of -21.46, a P/E/G ratio of 0.14 and a beta of 1.24. The firm has a fifty day moving average of $21.39.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings results on Thursday, April 29th. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.33. Equinor ASA had a negative net margin of 6.30% and a positive return on equity of 8.68%. The business had revenue of $16.13 billion for the quarter. Sell-side analysts predict that Equinor ASA will post 2.74 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. bought a new position in shares of Equinor ASA in the first quarter valued at approximately $25,000. Asset Dedication LLC purchased a new stake in Equinor ASA in the first quarter valued at approximately $29,000. Financial Management Professionals Inc. raised its stake in Equinor ASA by 2,078.4% in the first quarter. Financial Management Professionals Inc. now owns 2,113 shares of the company’s stock valued at $41,000 after purchasing an additional 2,016 shares in the last quarter. Arkadios Wealth Advisors raised its stake in shares of Equinor ASA by 139.6% during the first quarter. Arkadios Wealth Advisors now owns 2,736 shares of the company’s stock worth $53,000 after acquiring an additional 1,594 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Equinor ASA by 43.3% during the first quarter. Captrust Financial Advisors now owns 4,486 shares of the company’s stock worth $87,000 after acquiring an additional 1,356 shares in the last quarter.

About Equinor ASA

Equinor ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and petroleum-derived products, and other forms of energy, as well as other businesses in Norway and internationally. The company operates in five segments: Exploration Norway; Exploration & Production (E&P) International; E&P USA; Marketing, Midstream & Processing; and Other.

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