Equinor ASA (NYSE:EQNR) Hits New 12-Month High - What's Next?

Key Points

• Equinor shares reached a new 52-week high of $45.62, although they later traded around $44.49. The stock’s average analyst rating remains “Hold,” with a consensus price target of $39.20.
• Equinor reported quarterly EPS of $1.33, slightly below the $1.39 consensus estimate, while revenue of $34.02 billion was essentially in line with expectations.
• The company announced a quarterly dividend of $0.39 per share, equivalent to $1.56 annually and a 3.5% yield; its dividend payout ratio is 34.88%.

Equinor ASA (NYSE:EQNR - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $45.62 and last traded at $44.4850, with a volume of 4111074 shares trading hands. The stock had previously closed at $44.80.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EQNR. Weiss Ratings upgraded shares of Equinor ASA from a "hold (c+)" rating to a "buy (b)" rating in a research note on Thursday, July 23rd. TD Cowen increased their price objective on shares of Equinor ASA from $37.00 to $38.00 and gave the company a "hold" rating in a research report on Friday, July 24th. Royal Bank Of Canada upgraded shares of Equinor ASA from an "underperform" rating to a "sector perform" rating in a report on Thursday, July 23rd. Wall Street Zen raised shares of Equinor ASA from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, Zacks Research lowered shares of Equinor ASA from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $39.20.

Equinor ASA Trading Down 0.7%

The stock has a 50 day simple moving average of $40.26 and a 200-day simple moving average of $37.92. The firm has a market capitalization of $106.35 billion, a P/E ratio of 12.12, a P/E/G ratio of 2.13 and a beta of 0.03. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 0.56.

Equinor ASA (NYSE:EQNR - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.06). The business had revenue of $34.02 billion for the quarter, compared to analysts' expectations of $34.03 billion. Equinor ASA had a net margin of 7.92% and a return on equity of 23.60%. On average, equities research analysts forecast that Equinor ASA will post 5.22 EPS for the current fiscal year.

Equinor ASA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, November 16th. Equinor ASA's dividend payout ratio is currently 34.88%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Inspire Investing LLC grew its position in shares of Equinor ASA by 4.5% during the first quarter. Inspire Investing LLC now owns 11,657 shares of the company's stock valued at $492,000 after purchasing an additional 503 shares in the last quarter. Assetmark Inc. boosted its stake in Equinor ASA by 130.2% during the first quarter. Assetmark Inc. now owns 1,036 shares of the company's stock valued at $44,000 after buying an additional 586 shares during the last quarter. Independent Advisor Alliance boosted its stake in Equinor ASA by 3.4% during the fourth quarter. Independent Advisor Alliance now owns 21,468 shares of the company's stock valued at $507,000 after buying an additional 701 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Equinor ASA by 1.5% during the 4th quarter. Corient Private Wealth LLC now owns 50,157 shares of the company's stock valued at $1,185,000 after buying an additional 723 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in Equinor ASA during the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 5.51% of the company's stock.

Equinor ASA Company Profile

Equinor ASA is a Norwegian energy company engaged primarily in the exploration, development, production and marketing of oil and natural gas. The company also supplies crude oil, natural gas, refined petroleum products and electricity, and participates in energy trading and related activities.

Equinor has expanded beyond its traditional petroleum business into lower-carbon energy, including offshore wind, carbon capture and storage, and hydrogen-related projects. Its operations and partnerships span several regions, with significant activities on the Norwegian continental shelf as well as projects in Europe, North America, South America and other international markets.

The company was established in 1972 as Den norske stats oljeselskap, commonly known as Statoil, and adopted the name Equinor in 2018 to reflect its broader energy strategy.

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