Equinor ASA (NYSE:EQNR) Price Target Raised to $37.00

Equinor ASA (NYSE:EQNRFree Report) had its price target increased by TD Cowen from $25.00 to $37.00 in a research note released on Friday,Benzinga reports. They currently have a hold rating on the stock.

Several other brokerages also recently weighed in on EQNR. Weiss Ratings raised shares of Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Bank of America cut Equinor ASA from a “buy” rating to a “neutral” rating in a research report on Thursday, February 5th. Jefferies Financial Group began coverage on Equinor ASA in a report on Thursday, January 8th. They issued a “hold” rating for the company. UBS Group upgraded Equinor ASA from a “sell” rating to a “neutral” rating in a research note on Friday. Finally, Zacks Research raised Equinor ASA from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, Equinor ASA presently has an average rating of “Reduce” and a consensus price target of $28.71.

Get Our Latest Stock Analysis on EQNR

Equinor ASA Stock Performance

Shares of EQNR stock opened at $41.58 on Friday. The company has a market capitalization of $122.43 billion, a price-to-earnings ratio of 21.88 and a beta of 0.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.27. Equinor ASA has a one year low of $21.41 and a one year high of $42.06. The company’s 50-day moving average is $29.27 and its 200 day moving average is $25.71.

Equinor ASA (NYSE:EQNRGet Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.21. The business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $21.31 billion. Equinor ASA had a net margin of 4.74% and a return on equity of 15.23%. Sell-side analysts expect that Equinor ASA will post 3.46 EPS for the current fiscal year.

Equinor ASA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, May 15th will be issued a $0.39 dividend. This is an increase from Equinor ASA’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, May 15th. Equinor ASA’s dividend payout ratio is 64.21%.

Institutional Investors Weigh In On Equinor ASA

A number of hedge funds have recently added to or reduced their stakes in the stock. Mirabella Financial Services LLP bought a new position in shares of Equinor ASA during the 3rd quarter valued at $730,757,000. Bank of America Corp DE boosted its stake in shares of Equinor ASA by 30.2% in the 3rd quarter. Bank of America Corp DE now owns 15,759,942 shares of the company’s stock worth $384,227,000 after buying an additional 3,659,611 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Equinor ASA by 1,437.7% in the third quarter. JPMorgan Chase & Co. now owns 2,286,328 shares of the company’s stock worth $55,741,000 after acquiring an additional 2,137,642 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Equinor ASA by 113.0% in the second quarter. Fisher Asset Management LLC now owns 1,787,778 shares of the company’s stock worth $44,945,000 after acquiring an additional 948,609 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new stake in Equinor ASA during the third quarter valued at $21,366,000. 5.51% of the stock is currently owned by hedge funds and other institutional investors.

Key Equinor ASA News

Here are the key news stories impacting Equinor ASA this week:

Equinor ASA Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Equinor ASA (NYSE:EQNR)

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