Equinor ASA (NYSE:EQNR) Reaches New 52-Week High - Here's What Happened

Key Points

• Equinor shares reached a new 52-week high, trading as high as $46.13 and closing recently at $45.88, above its 50-day and 200-day moving averages.
• Analyst sentiment remains mixed: some firms upgraded the stock, while others maintained hold or sell ratings. The consensus rating is Hold, with an average price target of $43.47.
• Equinor declared a quarterly dividend of $0.39 per share, equivalent to a $1.56 annualized payout and a 3.4% dividend yield. Its latest quarterly earnings of $1.33 per share fell short of the $1.39 consensus estimate.

Equinor ASA (NYSE:EQNR - Get Free Report)'s share price hit a new 52-week high during trading on Friday. The stock traded as high as $46.13 and last traded at $45.8820, with a volume of 418,277 shares. The stock had previously closed at $44.92.

Analyst Ratings Changes

Several research firms have recently weighed in on EQNR. Weiss Ratings raised shares of Equinor ASA from a "hold (c+)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. Berenberg Bank reiterated a "hold" rating on shares of Equinor ASA in a report on Friday, July 24th. TD Cowen raised their price objective on Equinor ASA from $38.00 to $41.00 and gave the company a "hold" rating in a research report on Monday, September 28th. Morningstar lowered shares of Equinor ASA to a "sell" rating in a research note on Thursday, July 23rd. Finally, Zacks Research raised shares of Equinor ASA from a "hold" rating to a "strong-buy" rating in a report on Friday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $43.47.

Equinor ASA Stock Performance

The firm has a 50-day moving average of $42.72 and a two-hundred day moving average of $39.19. The company has a market capitalization of $109.88 billion, a PE ratio of 12.51, a PEG ratio of 1.69 and a beta of 0.13. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 0.56.

Equinor ASA (NYSE:EQNR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.06). Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%. The business had revenue of $34.02 billion during the quarter, compared to analysts' expectations of $34.03 billion. Research analysts anticipate that Equinor ASA will post 5.60 EPS for the current year.

Equinor ASA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, November 16th. Equinor ASA's dividend payout ratio is currently 34.88%.

Institutional Trading of Equinor ASA

Several large investors have recently modified their holdings of EQNR. Arrowstreet Capital Limited Partnership boosted its holdings in Equinor ASA by 599.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,966,671 shares of the company's stock worth $547,194,000 after purchasing an additional 11,112,362 shares during the period. Euro Pacific Asset Management LLC boosted its position in shares of Equinor ASA by 33.2% in the third quarter. Euro Pacific Asset Management LLC now owns 414,023 shares of the company's stock worth $17,776,000 after buying an additional 103,197 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Equinor ASA by 21.2% during the 1st quarter. Quantinno Capital Management LP now owns 220,132 shares of the company's stock valued at $9,290,000 after buying an additional 38,522 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Equinor ASA in the 1st quarter valued at approximately $8,745,000. Finally, Jennison Associates LLC acquired a new position in Equinor ASA during the first quarter worth $8,582,000. 5.51% of the stock is currently owned by institutional investors and hedge funds.

About Equinor ASA

Equinor ASA is a Norwegian energy company engaged in the exploration, development, production, processing, transportation, marketing and trading of oil and natural gas. The company also operates in renewable energy and other lower-carbon activities, including offshore wind, carbon capture and storage, and hydrogen initiatives.

Equinor's operations are centered on the Norwegian continental shelf, where it is one of the leading producers of oil and natural gas. The company also has international exploration, production and energy projects across regions including Europe, North America, South America and Africa.

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