TD Cowen Issues Positive Forecast for Equinor ASA (NYSE:EQNR) Stock Price

Equinor ASA (NYSE:EQNR) had its price target raised by TD Cowen from $40.00 to $42.00 in a research report report published on Friday,Benzinga reports. The firm currently has a hold rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Pareto Securities cut Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. DZ Bank upgraded Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Rothschild & Co Redburn upgraded Equinor ASA from a “strong sell” rating to a “hold” rating in a report on Thursday, April 9th. Wall Street Zen upgraded Equinor ASA from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Morgan Stanley upgraded Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $40.40 price objective for the company in a report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $41.20.

Equinor ASA Trading Down 1.8%

Shares of EQNR stock opened at $36.96 on Friday. The stock has a market capitalization of $108.83 billion, a PE ratio of 16.95, a P/E/G ratio of 1.12 and a beta of 0.03. Equinor ASA has a 1-year low of $22.26 and a 1-year high of $43.46. The business has a 50-day moving average of $38.83 and a 200 day moving average of $31.13. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.24 and a quick ratio of 1.12.

Equinor ASA (NYSE:EQNR) last issued its earnings results on Tuesday, May 5th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.47. The company had revenue of $28.40 billion during the quarter, compared to analysts’ expectations of $28.73 billion. Equinor ASA had a return on equity of 20.01% and a net margin of 5.30%. As a group, sell-side analysts anticipate that Equinor ASA will post 5.1 earnings per share for the current year.

Equinor ASA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Friday, August 14th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.56 annualized dividend and a dividend yield of 4.2%. Equinor ASA’s dividend payout ratio is currently 58.72%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. UMB Bank n.a. raised its position in shares of Equinor ASA by 1,794.0% in the 4th quarter. UMB Bank n.a. now owns 1,269 shares of the company’s stock worth $30,000 after acquiring an additional 1,202 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Equinor ASA by 86.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,318 shares of the company’s stock worth $31,000 after acquiring an additional 610 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Equinor ASA in the 1st quarter worth approximately $35,000. McIlrath & Eck LLC bought a new position in shares of Equinor ASA in the 2nd quarter worth approximately $36,000. Finally, Assetmark Inc. raised its position in shares of Equinor ASA by 130.2% in the 1st quarter. Assetmark Inc. now owns 1,036 shares of the company’s stock worth $44,000 after acquiring an additional 586 shares in the last quarter. Institutional investors own 5.51% of the company’s stock.

Equinor ASA Company Profile

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.