Analysts Set Equinor ASA (NYSE:EQNR) Price Target at $39.20

Shares of Equinor ASA (NYSE:EQNR) have earned an average recommendation of “Hold” from the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $39.20.

Several equities analysts have recently commented on EQNR shares. Royal Bank Of Canada raised shares of Equinor ASA from an “underperform” rating to a “sector perform” rating in a research report on Thursday, July 23rd. Wall Street Zen lowered Equinor ASA from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings upgraded Equinor ASA from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. DZ Bank raised Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, TD Cowen lifted their target price on Equinor ASA from $37.00 to $38.00 and gave the stock a “hold” rating in a research report on Friday, July 24th.

Hedge Funds Weigh In On Equinor ASA

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its position in shares of Equinor ASA by 11.1% in the 1st quarter. Royal Bank of Canada now owns 148,723 shares of the company’s stock worth $3,932,000 after buying an additional 14,913 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Equinor ASA during the 1st quarter valued at about $263,000. Empowered Funds LLC grew its position in shares of Equinor ASA by 1.9% during the 1st quarter. Empowered Funds LLC now owns 112,194 shares of the company’s stock valued at $2,968,000 after buying an additional 2,112 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Equinor ASA during the first quarter worth about $816,000. Finally, EverSource Wealth Advisors LLC raised its stake in Equinor ASA by 50.3% during the second quarter. EverSource Wealth Advisors LLC now owns 5,230 shares of the company’s stock worth $131,000 after acquiring an additional 1,751 shares during the period. Institutional investors and hedge funds own 5.51% of the company’s stock.

Equinor ASA Trading Down 0.0%

EQNR opened at $42.84 on Thursday. Equinor ASA has a 12-month low of $22.26 and a 12-month high of $43.46. 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 has a market capitalization of $102.42 billion, a PE ratio of 11.67, a P/E/G ratio of 2.82 and a beta of 0.04. The firm’s fifty day moving average price is $36.81 and its 200 day moving average price is $36.14.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.06). The company had revenue of $34.02 billion for the quarter, compared to analyst estimates of $34.03 billion. Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%. As a group, research analysts expect that Equinor ASA will post 4.93 EPS for the current fiscal year.

Equinor ASA Announces Dividend

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

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.