Equinor ASA (NYSE:EQNR) Receives New Coverage from Analysts at TD Cowen

Research analysts at TD Cowen started coverage on shares of Equinor ASA (NYSE:EQNR - Get Free Report) in a report issued on Wednesday, StockNewsAPI reports. The firm set a "hold" rating and a $28.00 price target on the stock. TD Cowen's target price would indicate a potential upside of 3.34% from the company's current price.

A number of other research firms have also weighed in on EQNR. DZ Bank lowered Equinor ASA from a "buy" rating to a "hold" rating in a research report on Thursday, February 8th. Morgan Stanley upgraded Equinor ASA from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $26.40 to $28.50 in a research note on Tuesday, February 20th. Finally, StockNews.com upgraded Equinor ASA from a "hold" rating to a "buy" rating in a research note on Friday, March 22nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $28.25.

Equinor ASA Price Performance

Shares of EQNR traded down $0.03 during midday trading on Wednesday, reaching $27.10. The stock had a trading volume of 3,238,179 shares, compared to its average volume of 3,600,883. The company's 50-day moving average is $26.48 and its 200 day moving average is $29.60. Equinor ASA has a 12-month low of $24.44 and a 12-month high of $34.73. 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 company has a market capitalization of $84.59 billion, a price-to-earnings ratio of 6.94 and a beta of 0.85.

Equinor ASA (NYSE:EQNR - Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.44). The business had revenue of $29.05 billion for the quarter, compared to the consensus estimate of $27.35 billion. Equinor ASA had a net margin of 11.09% and a return on equity of 20.32%. On average, equities analysts predict that Equinor ASA will post 3.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

Several institutional investors and hedge funds have recently bought and sold shares of EQNR. Principal Securities Inc. bought a new stake in shares of Equinor ASA in the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of Equinor ASA by 136.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,090 shares of the company's stock worth $34,000 after purchasing an additional 629 shares during the last quarter. Avalon Trust Co bought a new stake in shares of Equinor ASA in the fourth quarter worth about $41,000. Princeton Global Asset Management LLC bought a new stake in shares of Equinor ASA in the fourth quarter worth about $43,000. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Equinor ASA by 558.9% in the third quarter. SRS Capital Advisors Inc. now owns 1,331 shares of the company's stock worth $44,000 after purchasing an additional 1,129 shares during the last quarter. 5.51% of the stock is currently owned by hedge funds and other 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.