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

Equinor ASA (NYSE:EQNR) had its target price boosted by investment analysts at TD Cowen from $37.00 to $38.00 in a research note issued on Friday. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price target would suggest a potential downside of 7.17% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Pareto Securities lowered Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. DZ Bank raised Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Rothschild & Co Redburn raised shares of Equinor ASA from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 9th. Wall Street Zen downgraded shares of Equinor ASA from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Royal Bank Of Canada raised shares of Equinor ASA from an “underperform” rating to a “sector perform” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.20.

Equinor ASA Price Performance

Shares of NYSE EQNR opened at $40.94 on Friday. The business’s 50 day moving average price is $35.67 and its two-hundred day moving average price is $33.92. The company has a market cap of $120.54 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 2.62 and a beta of 0.06. The company has a quick ratio of 1.12, a current ratio of 1.24 and a debt-to-equity ratio of 0.57. Equinor ASA has a twelve month low of $22.26 and a twelve month high of $43.46.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings data on Wednesday, July 22nd. 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 23.83%. The business had revenue of $34.02 billion during the quarter, compared to analyst estimates of $34.03 billion. On average, analysts predict that Equinor ASA will post 4.73 EPS for the current year.

Institutional Trading of Equinor ASA

Several hedge funds have recently added to or reduced their stakes in EQNR. UMB Bank n.a. boosted its stake in Equinor ASA by 1,794.0% in the 4th quarter. UMB Bank n.a. now owns 1,269 shares of the company’s stock valued at $30,000 after purchasing an additional 1,202 shares during the period. Global Retirement Partners LLC increased its position in Equinor ASA by 86.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,318 shares of the company’s stock worth $31,000 after buying an additional 610 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in Equinor ASA during the 1st quarter worth $35,000. Eastern Bank bought a new position in Equinor ASA during the 2nd quarter worth $35,000. Finally, McIlrath & Eck LLC acquired a new stake in shares of Equinor ASA during the second quarter worth $36,000. 5.51% of the stock is owned by institutional investors and hedge funds.

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.