Equinor ASA (NYSE:EQNR) Hits New 52-Week Low – Here’s What Happened

Equinor ASA (NYSE:EQNR)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as $23.95 and last traded at $23.99, with a volume of 875851 shares changing hands. The stock had previously closed at $24.32.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EQNR. Barclays upgraded shares of Equinor ASA to a “hold” rating in a report on Wednesday, October 2nd. StockNews.com cut Equinor ASA from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 29th. TD Cowen lowered their target price on Equinor ASA from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday, July 10th. UBS Group raised Equinor ASA from a “sell” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, Citigroup raised Equinor ASA to a “strong sell” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.90.

Equinor ASA Price Performance

The business has a 50 day moving average of $25.93 and a 200 day moving average of $27.02. The company has a market cap of $71.00 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 2.36 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.

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 analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $25.54 billion during 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 quarter in the prior year, the company earned $0.74 earnings per share. As a group, research analysts predict that Equinor ASA will post 3.34 EPS for the current year.

Equinor ASA Cuts Dividend

The company also recently disclosed a — dividend, which was paid on Wednesday, August 28th. Shareholders of record on Monday, August 19th were issued 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 (DPR) is 43.34%.

Hedge Funds Weigh In On Equinor ASA

A number of institutional investors have recently added to or reduced their stakes in EQNR. Fisher Asset Management LLC increased its holdings in shares of Equinor ASA by 3.7% during the fourth quarter. Fisher Asset Management LLC now owns 392,962 shares of the company’s stock valued at $12,433,000 after acquiring an additional 14,144 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Equinor ASA by 2.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 50,568 shares of the company’s stock valued at $1,600,000 after acquiring an additional 1,189 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Equinor ASA during the first quarter valued at $113,000. Sandy Cove Advisors LLC bought a new position in shares of Equinor ASA during the first quarter valued at $203,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Equinor ASA during the first quarter valued at $81,000. Institutional investors 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.