Equinor ASA (NYSE:EQNR) Shares Gap Down - What's Next?

Equinor ASA (NYSE:EQNR - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $26.49, but opened at $25.29. Equinor ASA shares last traded at $25.42, with a volume of 2,337,717 shares traded.

Analysts Set New Price Targets

Several analysts have recently issued reports on EQNR shares. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Equinor ASA in a research report on Wednesday, May 7th. Royal Bank Of Canada cut shares of Equinor ASA from a "sector perform" rating to an "underperform" rating in a research note on Tuesday, April 22nd. Berenberg Bank cut shares of Equinor ASA from a "buy" rating to a "hold" rating and set a $26.44 price objective on the stock. in a research report on Tuesday, May 20th. Kepler Capital Markets lowered shares of Equinor ASA from a "hold" rating to a "reduce" rating in a research report on Tuesday, May 20th. Finally, Morgan Stanley downgraded Equinor ASA from an "overweight" rating to an "equal weight" rating and set a $22.70 price target on the stock. in a research report on Monday, May 12th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $22.71.

Equinor ASA Stock Performance

The company has a quick ratio of 1.27, a current ratio of 1.37 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average price of $24.28 and a 200 day moving average price of $24.05. The stock has a market cap of $70.19 billion, a PE ratio of 7.94, a P/E/G ratio of 0.64 and a beta of 0.57.

Equinor ASA (NYSE:EQNR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.17). The company had revenue of $27.14 billion during the quarter, compared to analysts' expectations of $27.16 billion. Equinor ASA had a return on equity of 18.44% and a net margin of 8.07%. Analysts expect that Equinor ASA will post 3.46 earnings per share for the current year.

Equinor ASA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 16th were issued a dividend of $0.304 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.22 dividend on an annualized basis and a yield of 4.84%. Equinor ASA's dividend payout ratio is currently 38.61%.

Institutional Investors Weigh In On Equinor ASA

Institutional investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC raised its stake in shares of Equinor ASA by 725.4% during the first quarter. Sound Income Strategies LLC now owns 974 shares of the company's stock valued at $26,000 after acquiring an additional 856 shares during the last quarter. GeoWealth Management LLC raised its position in Equinor ASA by 254.5% during the 4th quarter. GeoWealth Management LLC now owns 1,372 shares of the company's stock valued at $33,000 after purchasing an additional 985 shares during the last quarter. Montag A & Associates Inc. bought a new position in Equinor ASA during the 1st quarter valued at approximately $53,000. Wayfinding Financial LLC purchased a new stake in Equinor ASA in the 1st quarter worth approximately $54,000. Finally, Headlands Technologies LLC bought a new stake in shares of Equinor ASA in the 1st quarter worth approximately $57,000. Hedge funds and other institutional investors own 5.51% of the company's stock.

Equinor ASA Company Profile

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.