Equinor ASA (NYSE:EQNR) Stock Has Consensus Target Price of $43.47

Shares of Equinor ASA (NYSE:EQNR) have been given a consensus recommendation of “Hold” by the twenty research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $43.47.

Several research analysts have issued reports on EQNR shares. Weiss Ratings raised Equinor ASA from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Berenberg Bank reissued a “hold” rating on shares of Equinor ASA in a report on Friday, July 24th. Bank of America raised Equinor ASA from a “neutral” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Friday, September 18th. SEB Equity Research reaffirmed a “sell” rating on shares of Equinor ASA in a research report on Friday, October 2nd. Finally, Royal Bank Of Canada upgraded Equinor ASA from an “underperform” rating to a “sector perform” rating in a research note on Thursday, July 23rd.

Equinor ASA Stock Performance

EQNR stock opened at $43.02 on Friday. The company has a market cap of $102.86 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 1.64 and a beta of 0.13. Equinor ASA has a 1 year low of $22.26 and a 1 year high of $45.84. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.18 and a quick ratio of 1.10. The stock’s fifty day moving average price is $42.27 and its 200-day moving average price is $39.08.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). Equinor ASA had a net margin of 7.92% and a return on equity of 23.60%. The firm had revenue of $34.02 billion for the quarter, compared to analysts’ expectations of $34.03 billion. On average, equities analysts forecast that Equinor ASA will post 5.49 earnings per share for the current year.

Equinor ASA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.56 annualized dividend and a yield of 3.6%. Equinor ASA’s payout ratio is currently 34.88%.

Hedge Funds Weigh In On Equinor ASA

A number of hedge funds have recently modified their holdings of EQNR. Arrowstreet Capital Limited Partnership lifted its position in shares of Equinor ASA by 599.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,966,671 shares of the company’s stock valued at $547,194,000 after acquiring an additional 11,112,362 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Equinor ASA in the first quarter worth about $8,745,000. Jennison Associates LLC purchased a new stake in shares of Equinor ASA during the first quarter worth about $8,582,000. Readystate Asset Management LP purchased a new stake in shares of Equinor ASA during the first quarter worth about $4,544,000. Finally, DJE Kapital AG purchased a new stake in shares of Equinor ASA during the first quarter worth about $2,913,000. 5.51% of the stock is currently owned by institutional investors.

Equinor ASA Company Profile

Equinor ASA is a Norwegian energy company engaged in the exploration, development, production, processing, transportation, marketing and trading of oil and natural gas. The company also operates in renewable energy and other lower-carbon activities, including offshore wind, carbon capture and storage, and hydrogen initiatives.

Equinor’s operations are centered on the Norwegian continental shelf, where it is one of the leading producers of oil and natural gas. The company also has international exploration, production and energy projects across regions including Europe, North America, South America and Africa.