Equinor ASA (NYSE:EQNR) Price Target Cut to $19.00 by Analysts at TD Cowen

Equinor ASA (NYSE:EQNR - Get Free Report) had its price objective cut by equities research analysts at TD Cowen from $22.00 to $19.00 in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm presently has a "hold" rating on the stock. TD Cowen's price target would indicate a potential downside of 16.98% from the stock's current price.

Several other equities research analysts have also recently weighed in on the stock. StockNews.com cut shares of Equinor ASA from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Pareto Securities upgraded shares of Equinor ASA from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Morgan Stanley reduced their price objective on Equinor ASA from $30.90 to $28.20 and set an "overweight" rating on the stock in a report on Monday, March 17th. Nordea Equity Research raised Equinor ASA from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, Danske raised shares of Equinor ASA from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Equinor ASA has an average rating of "Moderate Buy" and an average price target of $23.60.

Equinor ASA Stock Performance

NYSE EQNR traded down $0.39 during midday trading on Friday, hitting $22.89. The company had a trading volume of 2,295,932 shares, compared to its average volume of 3,529,687. The firm has a fifty day simple moving average of $23.84 and a two-hundred day simple moving average of $23.84. Equinor ASA has a fifty-two week low of $21.41 and a fifty-two week high of $29.32. The company has a quick ratio of 1.36, a current ratio of 1.48 and a debt-to-equity ratio of 0.51. The stock has a market cap of $63.91 billion, a price-to-earnings ratio of 7.36, a P/E/G ratio of 0.58 and a beta of 0.58.

Equinor ASA (NYSE:EQNR - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.17). Equinor ASA had a return on equity of 20.33% and a net margin of 8.49%. The business had revenue of $27.14 billion for the quarter, compared to the consensus estimate of $27.16 billion. Equities analysts forecast that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Sound Income Strategies LLC grew its position in Equinor ASA by 725.4% in the first quarter. Sound Income Strategies LLC now owns 974 shares of the company's stock valued at $26,000 after purchasing an additional 856 shares in the last quarter. Manchester Capital Management LLC acquired a new position in shares of Equinor ASA during the 4th quarter worth approximately $33,000. GeoWealth Management LLC raised its stake in shares of Equinor ASA by 254.5% during the 4th quarter. GeoWealth Management LLC now owns 1,372 shares of the company's stock worth $33,000 after purchasing an additional 985 shares in the last quarter. Synergy Asset Management LLC acquired a new position in Equinor ASA during the fourth quarter worth $36,000. Finally, R Squared Ltd acquired a new stake in Equinor ASA in the fourth quarter valued at $48,000. 5.51% of the stock is currently owned by institutional investors.

About Equinor ASA

Equinor ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and other forms of energy in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; Renewables; and Other segments.