Equinor ASA (NYSE:EQNR) Receives $22.71 Average Price Target from Brokerages

Shares of Equinor ASA (NYSE:EQNR) have received an average rating of “Reduce” from the nineteen research firms that are covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $22.7133.

EQNR has been the subject of a number of recent research reports. Zacks Research downgraded shares of Equinor ASA from a “hold” rating to a “strong sell” rating in a research report on Thursday, December 11th. Barclays reiterated an “underweight” rating on shares of Equinor ASA in a research report on Friday, October 31st. Sanford C. Bernstein cut Equinor ASA from an “outperform” rating to a “market perform” rating in a research report on Friday, October 17th. Jefferies Financial Group assumed coverage on Equinor ASA in a research report on Thursday, January 8th. They set a “hold” rating on the stock. Finally, Weiss Ratings upgraded shares of Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th.

Equinor ASA Stock Up 1.7%

Shares of EQNR stock opened at $26.40 on Friday. Equinor ASA has a 12 month low of $21.41 and a 12 month high of $28.26. The stock has a market cap of $77.74 billion, a P/E ratio of 12.51, a P/E/G ratio of 3.25 and a beta of 0.38. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 0.62. The company has a 50 day simple moving average of $23.93 and a two-hundred day simple moving average of $24.26.

Equinor ASA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Tuesday, February 17th. Equinor ASA’s dividend payout ratio (DPR) is presently 57.82%.

Institutional Investors Weigh In On Equinor ASA

A number of institutional investors have recently bought and sold shares of EQNR. McIlrath & Eck LLC purchased a new position in shares of Equinor ASA in the second quarter valued at about $36,000. Sound Income Strategies LLC raised its stake in Equinor ASA by 119.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,876 shares of the company’s stock valued at $48,000 after purchasing an additional 1,020 shares during the period. New Millennium Group LLC purchased a new position in Equinor ASA in the 3rd quarter worth approximately $57,000. MAI Capital Management lifted its holdings in Equinor ASA by 55.6% in the 2nd quarter. MAI Capital Management now owns 2,339 shares of the company’s stock worth $59,000 after purchasing an additional 836 shares in the last quarter. Finally, CWM LLC boosted its stake in Equinor ASA by 20.6% in the 4th quarter. CWM LLC now owns 3,051 shares of the company’s stock worth $72,000 after purchasing an additional 522 shares during the period. Hedge funds and other institutional investors own 5.51% of the company’s stock.

About Equinor ASA

Equinor ASA (NYSE: EQNR) is a Norway-based integrated energy company headquartered in Stavanger. Historically established as Statoil in the 1970s to develop Norway’s petroleum resources, the company changed its name to Equinor in 2018 to reflect a strategic shift toward a broader energy portfolio. Equinor’s operations span the full upstream value chain, including exploration, development and production of oil and natural gas, alongside trading and marketing activities that support its global commercial operations.

In recent years Equinor has pursued a transition strategy that combines continued development of conventional oil and gas resources with growing investments in low‑carbon energy.