Equinor ASA (NYSE:EQNR) Price Target Raised to $41.00

Equinor ASA (NYSE:EQNR) had its price target raised by TD Cowen from $38.00 to $41.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a hold rating on the stock.

Other equities analysts have also issued research reports about the stock. Wall Street Zen raised shares of Equinor ASA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 12th. 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. Bank of America upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Friday, September 18th. Finally, Weiss Ratings upgraded shares of Equinor ASA from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.47.

Equinor ASA Stock Up 0.7%

EQNR stock opened at $41.64 on Monday. Equinor ASA has a 12-month low of $22.26 and a 12-month high of $45.84. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 0.56. The company has a market cap of $99.56 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.94 and a beta of 0.03. The company has a 50 day moving average of $41.94 and a two-hundred day moving average of $38.87.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings data on Tuesday, July 21st. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). Equinor ASA had a net margin of 7.92% and a return on equity of 23.60%. The firm had revenue of $34.02 billion for the quarter, compared to analyst estimates of $34.03 billion. On average, equities analysts anticipate that Equinor ASA will post 5.29 earnings per share for the current fiscal year.

Equinor ASA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 16th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.56 dividend on an annualized basis and a yield of 3.7%. Equinor ASA’s dividend payout ratio is presently 34.88%.

Hedge Funds Weigh In On Equinor ASA

Institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its stake in Equinor ASA by 599.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,966,671 shares of the company’s stock valued at $547,194,000 after purchasing an additional 11,112,362 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Equinor ASA in the 1st quarter worth $8,745,000. Jennison Associates LLC bought a new position in shares of Equinor ASA during the 1st quarter worth about $8,582,000. Readystate Asset Management LP bought a new position in shares of Equinor ASA during the 1st quarter worth about $4,544,000. Finally, DJE Kapital AG acquired a new position in shares of Equinor ASA during the first quarter valued at about $2,913,000. Institutional investors own 5.51% of the company’s stock.

Equinor ASA Company Profile

Equinor ASA is a Norwegian energy company engaged in the exploration, development, production, processing, transportation, marketing and trading of oil and natural gas. The company also operates in renewable energy and other lower-carbon activities, including offshore wind, carbon capture and storage, and hydrogen initiatives.

Equinor’s operations are centered on the Norwegian continental shelf, where it is one of the leading producers of oil and natural gas. The company also has international exploration, production and energy projects across regions including Europe, North America, South America and Africa.