Equinor ASA Forecasted to Earn Q1 2024 Earnings of $0.84 Per Share (NYSE:EQNR)

Equinor ASA (NYSE:EQNR - Free Report) - Equities researchers at Zacks Research dropped their Q1 2024 earnings estimates for shares of Equinor ASA in a note issued to investors on Monday, April 8th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $0.84 per share for the quarter, down from their prior estimate of $0.86. The consensus estimate for Equinor ASA's current full-year earnings is $3.15 per share. Zacks Research also issued estimates for Equinor ASA's Q2 2024 earnings at $1.09 EPS, Q3 2024 earnings at $1.04 EPS, Q4 2024 earnings at $0.85 EPS, FY2024 earnings at $3.83 EPS, Q1 2025 earnings at $0.79 EPS, Q2 2025 earnings at $0.77 EPS, FY2025 earnings at $3.12 EPS, Q1 2026 earnings at $0.76 EPS and FY2026 earnings at $3.00 EPS.

A number of other equities analysts also recently weighed in on EQNR. StockNews.com raised shares of Equinor ASA from a "hold" rating to a "buy" rating in a report on Friday, March 22nd. DZ Bank downgraded shares of Equinor ASA from a "buy" rating to a "hold" rating in a report on Thursday, February 8th. Morgan Stanley raised shares of Equinor ASA from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $26.40 to $28.50 in a report on Tuesday, February 20th. TD Cowen boosted their price objective on Equinor ASA from $26.00 to $28.00 and gave the company a "hold" rating in a research note on Wednesday. Finally, Royal Bank of Canada cut Equinor ASA from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, December 19th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Equinor ASA presently has a consensus rating of "Hold" and a consensus price target of $28.25.

Equinor ASA Stock Performance

Shares of NYSE:EQNR traded up $0.24 during midday trading on Wednesday, reaching $28.07. The company had a trading volume of 5,179,112 shares, compared to its average volume of 3,569,855. The company's 50 day moving average price is $26.46 and its 200 day moving average price is $29.91. The company has a current ratio of 1.71, a quick ratio of 1.60 and a debt-to-equity ratio of 0.51. The stock has a market cap of $87.63 billion, a P/E ratio of 7.07 and a beta of 0.85. Equinor ASA has a 52-week low of $24.44 and a 52-week high of $34.73.

Equinor ASA (NYSE:EQNR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.44). The company had revenue of $29.05 billion during the quarter, compared to analysts' expectations of $27.35 billion. Equinor ASA had a return on equity of 20.32% and a net margin of 11.09%.

Institutional Investors Weigh In On Equinor ASA

Several hedge funds and other institutional investors have recently modified their holdings of EQNR. Arrowstreet Capital Limited Partnership increased its position in shares of Equinor ASA by 42.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 10,186,246 shares of the company's stock valued at $382,086,000 after buying an additional 3,052,907 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Equinor ASA during the first quarter valued at about $55,819,000. Goldman Sachs Group Inc. increased its position in shares of Equinor ASA by 47.6% during the second quarter. Goldman Sachs Group Inc. now owns 3,752,274 shares of the company's stock valued at $130,429,000 after buying an additional 1,210,930 shares during the period. Folketrygdfondet increased its position in shares of Equinor ASA by 0.9% during the fourth quarter. Folketrygdfondet now owns 107,959,982 shares of the company's stock valued at $3,415,854,000 after buying an additional 917,330 shares during the period. Finally, Cambiar Investors LLC purchased a new position in shares of Equinor ASA during the third quarter worth about $21,931,000. 5.51% of the stock is currently owned by institutional investors.

Equinor ASA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Thursday, May 16th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Wednesday, May 15th. Equinor ASA's dividend payout ratio is currently 25.06%.

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.