Equinor ASA (NYSE:EQNR) Shares Gap Down - Here's Why

Key Points

• Shares gapped down at the open from $42.07 to $37.35 and were last trading around $38.40, reflecting roughly an 8% intraday decline.
• Analyst sentiment is mixed-to-negative after several recent re-ratings; the MarketBeat consensus is an average rating of "Reduce" with an average price target of $34.61, below the current share price.
• Equinor raised its quarterly dividend to $0.39 (annualized $1.56) for a ~4.0% yield, with an ex-dividend date of May 15 and payment on May 27.

Shares of Equinor ASA (NYSE:EQNR - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $42.07, but opened at $37.35. Equinor ASA shares last traded at $38.3970, with a volume of 4,502,057 shares trading hands.

Analysts Set New Price Targets

EQNR has been the topic of a number of research analyst reports. UBS Group upgraded Equinor ASA from a "sell" rating to a "neutral" rating in a report on Friday, March 20th. Morgan Stanley upgraded Equinor ASA from an "underweight" rating to an "equal weight" rating and set a $40.40 price target on the stock in a report on Tuesday, March 24th. Pareto Securities downgraded Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Friday, March 27th. Bank of America downgraded Equinor ASA from a "buy" rating to a "neutral" rating in a report on Thursday, February 5th. Finally, Zacks Research upgraded Equinor ASA from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $34.61.

Equinor ASA Stock Down 8.0%

The business has a 50 day simple moving average of $33.14 and a 200 day simple moving average of $27.14. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.16. The stock has a market cap of $113.99 billion, a PE ratio of 20.38 and a beta of 0.13.

Equinor ASA (NYSE:EQNR - Get Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.21. Equinor ASA had a return on equity of 15.23% and a net margin of 4.74%.The firm had revenue of $25.26 billion for the quarter, compared to the consensus estimate of $21.31 billion. On average, equities research analysts forecast that Equinor ASA will post 3.46 EPS for the current fiscal year.

Equinor ASA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 4.0%. This is an increase from Equinor ASA's previous quarterly dividend of $0.37. The ex-dividend date is Friday, May 15th. Equinor ASA's dividend payout ratio is presently 67.37%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. UMB Bank n.a. grew its stake in Equinor ASA by 1,794.0% in the fourth 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 in the last quarter. Global Retirement Partners LLC boosted its stake in shares of 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 acquiring an additional 610 shares in the last quarter. McIlrath & Eck LLC bought a new stake in shares of Equinor ASA during the 2nd quarter worth about $36,000. Sound Income Strategies LLC boosted its stake in shares of Equinor ASA by 119.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,876 shares of the company's stock worth $48,000 after acquiring an additional 1,020 shares in the last quarter. Finally, New Millennium Group LLC bought a new stake in shares of Equinor ASA during the 3rd quarter worth about $57,000. Hedge funds and other institutional investors own 5.51% of the company's stock.

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.

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