TD Cowen Forecasts Strong Price Appreciation for Equinor ASA (NYSE:EQNR) Stock

Key Points

• TD Cowen raised its price target on Equinor ASA to $38 from $37, while keeping a hold rating. The new target still implies about 7.17% downside from the current share price.
• Analyst sentiment remains cautious overall: MarketBeat says Equinor has a consensus Hold rating, with 11 Hold ratings, 2 Sell ratings, and 1 Strong Buy rating. The average price target stands at $39.20.
• Equinor reported Q2 EPS of $1.33, missing estimates, while revenue was essentially in line at $34.02 billion. The stock was up 2.4% and opened at $40.94, near its 52-week high of $43.46.

Equinor ASA (NYSE:EQNR - Get Free Report) had its price target boosted by stock analysts at TD Cowen from $37.00 to $38.00 in a research note issued on Friday. The brokerage presently has a "hold" rating on the stock. TD Cowen's target price points to a potential downside of 7.17% from the stock's current price.

Several other equities analysts have also issued reports on EQNR. Rothschild & Co Redburn raised shares of Equinor ASA from a "strong sell" rating to a "hold" rating in a report on Thursday, April 9th. Weiss Ratings raised Equinor ASA from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 7th. Royal Bank Of Canada raised Equinor ASA from an "underperform" rating to a "sector perform" rating in a research note on Thursday. Pareto Securities lowered Equinor ASA from a "strong-buy" rating to a "hold" rating in a report on Friday, March 27th. Finally, Zacks Research cut 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, eleven have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $39.20.

Equinor ASA Stock Up 2.4%

Equinor ASA stock opened at $40.94 on Friday. The company's 50 day simple moving average is $35.67 and its 200 day simple moving average is $33.92. Equinor ASA has a fifty-two week low of $22.26 and a fifty-two week high of $43.46. The firm has a market capitalization of $120.54 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 2.62 and a beta of 0.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.24 and a quick ratio of 1.12.

Equinor ASA (NYSE:EQNR - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.06). The firm had revenue of $34.02 billion during the quarter, compared to the consensus estimate of $34.03 billion. Equinor ASA had a net margin of 7.92% and a return on equity of 23.83%. As a group, sell-side analysts anticipate that Equinor ASA will post 4.73 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. UMB Bank n.a. increased its position in shares of Equinor ASA by 1,794.0% during the 4th quarter. UMB Bank n.a. now owns 1,269 shares of the company's stock worth $30,000 after purchasing an additional 1,202 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Equinor ASA by 86.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,318 shares of the company's stock valued at $31,000 after buying an additional 610 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Equinor ASA during the first quarter worth $35,000. Eastern Bank acquired a new position in Equinor ASA during the second quarter worth $35,000. Finally, McIlrath & Eck LLC bought a new stake in Equinor ASA during the second quarter worth $36,000. 5.51% of the stock is owned by institutional investors and hedge funds.

Equinor ASA Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.