Equinor ASA (NYSE:EQNR) Sets New 1-Year High – Here’s What Happened

Equinor ASA (NYSE:EQNR) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $43.58 and last traded at $43.4820, with a volume of 297468 shares changing hands. The stock had previously closed at $42.80.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EQNR shares. Wall Street Zen cut Equinor ASA from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 22nd. Royal Bank Of Canada raised Equinor ASA from an “underperform” rating to a “sector perform” rating in a report on Thursday, July 23rd. TD Cowen upped their target price on Equinor ASA from $37.00 to $38.00 and gave the company a “hold” rating in a research report on Friday, July 24th. DZ Bank upgraded shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, Zacks Research lowered shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $39.20.

Equinor ASA Stock Down 1.5%

The stock has a market cap of $104.21 billion, a PE ratio of 11.88, a P/E/G ratio of 2.92 and a beta of 0.03. The business has a 50 day moving average price of $38.31 and a 200 day moving average price of $37.06. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 0.56.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings results 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). Equinor ASA had a net margin of 7.92% and a return on equity of 23.60%. The company had revenue of $34.02 billion for the quarter, compared to analysts’ expectations of $34.03 billion. Equities research analysts expect that Equinor ASA will post 4.92 EPS for the current fiscal year.

Equinor ASA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be issued 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 payout ratio is 34.88%.

Institutional Trading of Equinor ASA

A number of hedge funds have recently added to or reduced their stakes in EQNR. DJE Kapital AG acquired a new position in shares of Equinor ASA in the first quarter worth about $2,913,000. Gibbs Wealth Management acquired a new stake in shares of Equinor ASA during the 1st quarter valued at about $1,189,000. Dimensional Fund Advisors LP increased its stake in shares of Equinor ASA by 24.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 182,992 shares of the company’s stock valued at $7,722,000 after purchasing an additional 36,122 shares in the last quarter. QRG Capital Management Inc. increased its stake in shares of Equinor ASA by 38.5% in the 4th quarter. QRG Capital Management Inc. now owns 125,044 shares of the company’s stock valued at $2,955,000 after purchasing an additional 34,757 shares in the last quarter. Finally, Readystate Asset Management LP acquired a new position in Equinor ASA in the 1st quarter worth about $4,544,000. 5.51% of the stock is owned by hedge funds and other institutional investors.

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.