Equinor ASA (NYSE:EQNR) Stock Price Up 6.5% - Still a Buy?

Key Points

• Equinor shares jumped 6.5% in Monday trading, reaching as high as $36.17 after closing at $33.92 the prior session. Trading volume was below average.
• Analyst sentiment remains cautious overall: the stock’s consensus rating is Hold, with 11 Hold ratings, one Strong Buy, and two Sell ratings. The average price target is $38.70.
• Equinor recently beat earnings expectations, reporting $1.48 EPS versus the $1.01 estimate, and it also announced a $0.39 quarterly dividend payable August 27, implying a 4.3% annualized yield.

Equinor ASA (NYSE:EQNR - Get Free Report) shot up 6.5% during mid-day trading on Monday . The company traded as high as $36.17 and last traded at $36.1190. 3,407,923 shares were traded during trading, a decline of 42% from the average daily volume of 5,889,323 shares. The stock had previously closed at $33.92.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EQNR shares. Wall Street Zen downgraded Equinor ASA from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Zacks Research downgraded Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. DZ Bank upgraded Equinor ASA from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. Morgan Stanley upgraded Equinor ASA from an "underweight" rating to an "equal weight" rating and set a $40.40 target price on the stock in a research report on Tuesday, March 24th. Finally, Pareto Securities lowered Equinor ASA from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $38.70.

Equinor ASA Stock Performance

The stock's fifty day simple moving average is $35.88 and its two-hundred day simple moving average is $33.03. The company has a market cap of $106.36 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 2.27 and a beta of 0.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.24.

Equinor ASA (NYSE:EQNR - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.47. The business had revenue of $28.40 billion during the quarter, compared to the consensus estimate of $28.73 billion. Equinor ASA had a return on equity of 20.01% and a net margin of 5.30%. Equities research analysts anticipate that Equinor ASA will post 4.75 EPS for the current year.

Equinor ASA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Friday, August 14th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, August 14th. Equinor ASA's dividend payout ratio (DPR) is 58.72%.

Hedge Funds Weigh In On Equinor ASA

Hedge funds and other institutional investors have recently modified their holdings of the company. Cassaday & Co Wealth Management LLC acquired a new stake in Equinor ASA during the 1st quarter worth approximately $35,000. Assetmark Inc. grew its stake in Equinor ASA by 130.2% during the first quarter. Assetmark Inc. now owns 1,036 shares of the company's stock worth $44,000 after buying an additional 586 shares during the period. Eastern Bank purchased a new stake in Equinor ASA during the second quarter worth approximately $35,000. UMB Bank n.a. increased its position in shares of Equinor ASA by 1,794.0% in the fourth quarter. UMB Bank n.a. now owns 1,269 shares of the company's stock worth $30,000 after acquiring an additional 1,202 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of Equinor ASA by 86.2% in the fourth 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. 5.51% of the stock is owned by institutional investors and hedge funds.

About Equinor ASA

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.