Equinor ASA (NYSE:EQNR) Stock Price Down 5.2% – Here’s What Happened

Shares of Equinor ASA (NYSE:EQNR) traded down 5.2% during mid-day trading on Wednesday . The company traded as low as $23.50 and last traded at $23.38. 2,797,633 shares traded hands during trading, a decline of 35% from the average session volume of 4,317,454 shares. The stock had previously closed at $24.67.

Analyst Ratings Changes

Several brokerages recently weighed in on EQNR. HSBC upgraded Equinor ASA from a “hold” rating to a “buy” rating in a research note on Monday. Barclays raised shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a report on Monday, November 25th. Berenberg Bank raised Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. upgraded Equinor ASA from an “underweight” rating to an “overweight” rating in a research note on Monday, December 9th. Finally, Morgan Stanley raised Equinor ASA from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $25.80 to $30.90 in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.45.

Equinor ASA Stock Down 6.1 %

The company has a market cap of $64.72 billion, a PE ratio of 7.46, a P/E/G ratio of 1.27 and a beta of 0.83. The business has a 50-day simple moving average of $23.94 and a 200-day simple moving average of $24.79. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 0.51.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.19). Equinor ASA had a net margin of 8.49% and a return on equity of 20.33%. Equities research analysts anticipate that Equinor ASA will post 3.38 EPS for the current year.

Equinor ASA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, February 14th. This represents a $1.40 annualized dividend and a dividend yield of 6.04%. Equinor ASA’s dividend payout ratio (DPR) is presently 37.62%.

Institutional Investors Weigh In On Equinor ASA

Institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp lifted its position in shares of Equinor ASA by 3.1% in the fourth quarter. Van ECK Associates Corp now owns 16,288 shares of the company’s stock valued at $386,000 after acquiring an additional 487 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Equinor ASA by 10.8% in the 4th quarter. Jones Financial Companies Lllp now owns 5,195 shares of the company’s stock valued at $123,000 after purchasing an additional 505 shares in the last quarter. Gallacher Capital Management LLC boosted its stake in Equinor ASA by 2.7% during the 4th quarter. Gallacher Capital Management LLC now owns 19,581 shares of the company’s stock worth $464,000 after purchasing an additional 518 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Equinor ASA by 12.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,804 shares of the company’s stock worth $122,000 after buying an additional 543 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Equinor ASA by 10.6% during the fourth quarter. Farther Finance Advisors LLC now owns 6,173 shares of the company’s stock worth $146,000 after buying an additional 593 shares in the last quarter. 5.51% of the stock is currently owned by institutional investors and hedge funds.

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.