Brokerages Set Equinor ASA (NYSE:EQNR) Target Price at $28.25

Shares of Equinor ASA (NYSE:EQNR) have received an average recommendation of “Reduce” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $28.25.

Several analysts have recently weighed in on EQNR shares. DZ Bank lowered shares of Equinor ASA from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Morgan Stanley raised Equinor ASA from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $26.40 to $28.50 in a report on Tuesday, February 20th. StockNews.com raised Equinor ASA from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Finally, TD Cowen initiated coverage on shares of Equinor ASA in a research note on Wednesday. They issued a “hold” rating and a $28.00 target price on the stock.

Equinor ASA Price Performance

Shares of NYSE:EQNR opened at $27.10 on Monday. The business’s 50 day moving average is $26.52 and its 200-day moving average is $29.59. The company has a current ratio of 1.71, a quick ratio of 1.60 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $84.59 billion, a PE ratio of 6.93 and a beta of 0.85. Equinor ASA has a 1-year low of $24.44 and a 1-year high of $34.73.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.44). The business had revenue of $29.05 billion for the quarter, compared to analyst estimates of $27.35 billion. Equinor ASA had a return on equity of 20.32% and a net margin of 11.09%. Sell-side analysts predict that Equinor ASA will post 3.26 earnings per share for the current year.

Equinor ASA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Thursday, May 16th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.43%. Equinor ASA’s dividend payout ratio is 25.06%.

Institutional Investors Weigh In On Equinor ASA

A number of hedge funds have recently added to or reduced their stakes in the stock. Ronald Blue Trust Inc. raised its stake in shares of Equinor ASA by 16.0% in the third quarter. Ronald Blue Trust Inc. now owns 2,971 shares of the company’s stock worth $97,000 after acquiring an additional 409 shares during the last quarter. Ritholtz Wealth Management bought a new position in Equinor ASA in the 3rd quarter worth approximately $236,000. Ballentine Partners LLC lifted its holdings in Equinor ASA by 27.6% during the 3rd quarter. Ballentine Partners LLC now owns 11,023 shares of the company’s stock worth $361,000 after buying an additional 2,382 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Equinor ASA by 18.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 14,714 shares of the company’s stock valued at $482,000 after buying an additional 2,291 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in shares of Equinor ASA by 44.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 4,297 shares of the company’s stock valued at $141,000 after buying an additional 1,317 shares during the period. Institutional investors own 5.51% of the company’s stock.

About Equinor ASA

Equinor ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and other forms of energy in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; Renewables; and Other segments.