Equinor ASA (NYSE:EQNR) Sets New 12-Month High - Here's What Happened

Key Points

• Equinor shares reached a new 52-week high of $45.06, up 3.8% from the prior close, with the stock last trading near $44.82.
• Analysts maintain a mostly cautious view, with an average rating of “Hold” and an average price target of $39.20. The company’s latest quarterly EPS of $1.33 missed estimates of $1.39, while revenue was essentially in line with expectations.
• Equinor declared a quarterly dividend of $0.39, equivalent to $1.56 annually and a 3.5% yield; institutional investors and hedge funds own 5.51% of the company.

Equinor ASA (NYSE:EQNR - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $45.06 and last traded at $44.8230, with a volume of 422614 shares traded. The stock had previously closed at $43.39.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EQNR shares. Royal Bank Of Canada raised Equinor ASA from an "underperform" rating to a "sector perform" rating in a research note on Thursday, July 23rd. Wall Street Zen cut Equinor ASA from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 22nd. TD Cowen increased their price objective on Equinor ASA from $37.00 to $38.00 and gave the company a "hold" rating in a research report on Friday, July 24th. Weiss Ratings raised Equinor ASA from a "hold (c+)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. Finally, Zacks Research downgraded Equinor ASA from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Equinor ASA currently has an average rating of "Hold" and an average target price of $39.20.

Equinor ASA Stock Up 3.8%

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.18 and a quick ratio of 1.10. The stock has a market capitalization of $107.69 billion, a PE ratio of 12.30, a PEG ratio of 2.78 and a beta of 0.03. The company has a 50 day moving average price of $39.22 and a 200-day moving average price of $37.47.

Equinor ASA (NYSE:EQNR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $1.33 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 business had revenue of $34.02 billion during the quarter, compared to analysts' expectations of $34.03 billion. As a group, analysts forecast that Equinor ASA will post 4.92 earnings per share for the current fiscal year.

Equinor ASA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 16th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, November 16th. Equinor ASA's dividend payout ratio is presently 34.88%.

Hedge Funds Weigh In On Equinor ASA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DJE Kapital AG bought a new position in Equinor ASA during the first quarter valued at approximately $2,913,000. Gibbs Wealth Management bought a new stake in Equinor ASA in the 1st quarter worth approximately $1,189,000. Dimensional Fund Advisors LP raised its stake in Equinor ASA by 24.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 182,992 shares of the company's stock valued at $7,722,000 after buying an additional 36,122 shares during the last quarter. GTS Securities LLC purchased a new stake in Equinor ASA during the 2nd quarter valued at $2,162,000. Finally, Equitable Holdings Inc. bought a new position in shares of Equinor ASA during the 2nd quarter valued at $893,000. 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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