TD Cowen Raises Equinor ASA (NYSE:EQNR) Price Target to $38.00

Equinor ASA (NYSE:EQNR) had its target price lifted by analysts at TD Cowen from $37.00 to $38.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price would indicate a potential downside of 5.89% from the stock’s previous close.

Other analysts also recently issued reports about the stock. DZ Bank upgraded shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Rothschild & Co Redburn raised shares of Equinor ASA from a “strong sell” rating to a “hold” rating in a report on Thursday, April 9th. Weiss Ratings upgraded Equinor ASA from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Wall Street Zen cut Equinor ASA from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Pareto Securities downgraded Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.20.

Equinor ASA Price Performance

NYSE EQNR opened at $40.38 on Friday. Equinor ASA has a 12 month low of $22.26 and a 12 month high of $43.46. The stock has a market cap of $118.91 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 2.58 and a beta of 0.06. The company’s 50 day moving average is $35.69 and its two-hundred day moving average is $33.96. The company has a current ratio of 1.18, a quick ratio of 1.12 and a debt-to-equity ratio of 0.56.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.06). The firm had revenue of $34.02 billion for the quarter, compared to analysts’ expectations of $34.03 billion. Equinor ASA had a net margin of 7.92% and a return on equity of 23.60%. As a group, research analysts anticipate that Equinor ASA will post 4.85 earnings per share for the current year.

Hedge Funds Weigh In On Equinor ASA

A number of hedge funds and other institutional investors have recently modified their holdings of EQNR. Ashton Thomas Private Wealth LLC purchased a new position in Equinor ASA during the fourth quarter valued at $4,734,000. QRG Capital Management Inc. lifted its stake in Equinor ASA by 38.5% in the 4th quarter. QRG Capital Management Inc. now owns 125,044 shares of the company’s stock worth $2,955,000 after purchasing an additional 34,757 shares in the last quarter. DJE Kapital AG bought a new position in shares of Equinor ASA during the 1st quarter valued at about $2,913,000. Gibbs Wealth Management bought a new position in shares of Equinor ASA during the 1st quarter valued at about $1,189,000. Finally, Jennison Associates LLC bought a new position in shares of Equinor ASA during the 1st quarter valued at about $8,582,000. Institutional investors own 5.51% of the company’s stock.

Key Stories Impacting Equinor ASA

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

• Positive Sentiment: Wall Street Zen raised Equinor ASA (NYSE: EQNR) to Buy, which could support sentiment if investors see more upside from current levels. Equinor ASA (NYSE:EQNR) Raised to Buy at Wall Street Zen
• Positive Sentiment: Royal Bank of Canada upgraded Equinor ASA (NYSE: EQNR) to Sector Perform, a modestly better stance than a lower-rated view and a sign that some analysts see the shares as reasonably valued. Equinor ASA (NYSE:EQNR) Raised to Sector Perform at Royal Bank Of Canada
• Positive Sentiment: TD Cowen raised its price target on Equinor ASA (NYSE: EQNR) from $37 to $38, suggesting some analysts still expect the stock to hold near its current range even after recent volatility. EQNR Q2 Earnings Miss Estimates, Revenues Rise Y/Y on Higher Output

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.