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

Key Points

• Equinor shares reached a new 52-week high of $43.58, trading well above their 50-day and 200-day moving averages.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $39.20, below the current share price.
• Equinor missed quarterly EPS expectations slightly but announced a quarterly dividend of $0.39, representing a 3.6% annualized yield.

Equinor ASA (NYSE:EQNR - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $43.58 and last traded at $43.4820, with a volume of 297468 shares. The stock had previously closed at $42.80.

Wall Street Analyst Weigh In

Several research firms recently commented on EQNR. Wall Street Zen lowered shares of Equinor ASA from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 22nd. TD Cowen boosted their price target on shares of Equinor ASA from $37.00 to $38.00 and gave the stock a "hold" rating in a research note on Friday, July 24th. Royal Bank Of Canada upgraded shares of Equinor ASA from an "underperform" rating to a "sector perform" rating in a research report on Thursday, July 23rd. DZ Bank raised Equinor ASA from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. Finally, Zacks Research downgraded Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Equinor ASA currently has an average rating of "Hold" and a consensus target price of $39.20.

Equinor ASA Price Performance

The business's 50 day moving average price is $37.84 and its two-hundred day moving average price is $36.84. The stock has a market cap of $104.25 billion, a P/E ratio of 11.88, a price-to-earnings-growth ratio of 2.73 and a beta of 0.04. 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.39 by ($0.06). Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%.The company had revenue of $34.02 billion during the quarter, compared to the consensus estimate of $34.03 billion. As a group, sell-side analysts expect that Equinor ASA will post 4.92 earnings per share for the current fiscal year.

Equinor ASA Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.56 annualized dividend and a dividend yield of 3.6%. Equinor ASA's dividend payout ratio is currently 34.88%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EQNR. Blair William & Co. IL boosted its position in shares of Equinor ASA by 2.7% during the fourth quarter. Blair William & Co. IL now owns 14,837 shares of the company's stock valued at $351,000 after purchasing an additional 389 shares in the last quarter. National Bank of Canada FI raised its holdings in Equinor ASA by 1.1% in the third quarter. National Bank of Canada FI now owns 39,045 shares of the company's stock worth $952,000 after purchasing an additional 437 shares in the last quarter. TD Asset Management Inc raised its holdings in Equinor ASA by 5.4% in the fourth quarter. TD Asset Management Inc now owns 9,711 shares of the company's stock worth $229,000 after purchasing an additional 501 shares in the last quarter. Inspire Investing LLC lifted its position in 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 buying an additional 503 shares during the period. Finally, CWM LLC lifted its position in Equinor ASA by 20.6% during the fourth quarter. CWM LLC now owns 3,051 shares of the company's stock valued at $72,000 after buying an additional 522 shares during the period. Hedge funds and other institutional investors own 5.51% of the company's stock.

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.

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