Equinor ASA (NYSE:EQNR) Reaches New 1-Year High – Here’s Why

Equinor ASA (NYSE:EQNR) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $37.13 and last traded at $36.9440, with a volume of 5473351 shares changing hands. The stock had previously closed at $35.63.

Analyst Upgrades and Downgrades

Several research firms have commented on EQNR. Zacks Research raised shares of Equinor ASA from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. TD Cowen increased their price target on Equinor ASA from $22.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. Jefferies Financial Group assumed coverage on Equinor ASA in a report on Thursday, January 8th. They set a “hold” rating on the stock. Bank of America downgraded Equinor ASA from a “buy” rating to a “neutral” rating in a research report on Thursday, February 5th. Finally, Pareto Securities upgraded Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $24.71.

Equinor ASA Price Performance

The company’s 50-day moving average is $28.27 and its 200-day moving average is $25.38. The firm has a market capitalization of $108.79 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 4.05 and a beta of 0.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.16.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.60 by $0.21. The firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $21.31 billion. Equinor ASA had a net margin of 4.74% and a return on equity of 15.23%. On average, research analysts expect that Equinor ASA will post 3.46 earnings per share for the current year.

Equinor ASA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 4.2%. This is a boost from Equinor ASA’s previous quarterly dividend of $0.37. Equinor ASA’s dividend payout ratio is presently 67.37%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EQNR. UMB Bank n.a. boosted its holdings in Equinor ASA by 1,794.0% in the fourth quarter. UMB Bank n.a. now owns 1,269 shares of the company’s stock valued at $30,000 after acquiring an additional 1,202 shares during the last quarter. Global Retirement Partners LLC increased its stake in Equinor ASA by 86.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,318 shares of the company’s stock worth $31,000 after acquiring an additional 610 shares during the last quarter. McIlrath & Eck LLC purchased a new position in shares of Equinor ASA in the 2nd quarter worth about $36,000. Sound Income Strategies LLC raised its holdings in shares of Equinor ASA by 119.2% in the 4th quarter. Sound Income Strategies LLC now owns 1,876 shares of the company’s stock worth $48,000 after purchasing an additional 1,020 shares during the period. Finally, Arax Advisory Partners lifted its stake in shares of Equinor ASA by 78.6% in the 4th quarter. Arax Advisory Partners now owns 2,377 shares of the company’s stock valued at $56,000 after purchasing an additional 1,046 shares in the last quarter. 5.51% of the stock is owned by hedge funds and other institutional investors.

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.