Equinor ASA (NYSE:EQNR) Sees Large Volume Increase – Still a Buy?

Shares of Equinor ASA (NYSE:EQNR) saw unusually-strong trading volume on Thursday . Approximately 6,872,117 shares traded hands during trading, an increase of 81% from the previous session’s volume of 3,794,214 shares.The stock last traded at $23.04 and had previously closed at $23.45.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EQNR shares. Redburn Atlantic raised shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded shares of Equinor ASA from an “underweight” rating to an “overweight” rating in a report on Monday, December 9th. Morgan Stanley raised Equinor ASA from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $25.80 to $30.90 in a research report on Tuesday, January 7th. Pareto Securities upgraded Equinor ASA from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada reiterated a “sector perform” rating on shares of Equinor ASA in a report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.45.

Equinor ASA Stock Up 2.2 %

The firm has a market capitalization of $65.84 billion, a price-to-earnings ratio of 7.58, a price-to-earnings-growth ratio of 1.27 and a beta of 0.83. The business has a 50 day moving average of $23.93 and a 200 day moving average of $24.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.38.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.19). Equinor ASA had a net margin of 8.49% and a return on equity of 20.33%. On average, equities analysts anticipate that Equinor ASA will post 3.38 EPS for the current year.

Equinor ASA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.40 annualized dividend and a dividend yield of 5.94%. Equinor ASA’s dividend payout ratio is presently 37.62%.

Institutional Investors Weigh In On Equinor ASA

A number of hedge funds have recently made changes to their positions in EQNR. Reston Wealth Management LLC bought a new stake in Equinor ASA during the third quarter worth about $31,000. Manchester Capital Management LLC acquired a new position in shares of Equinor ASA in the 4th quarter worth approximately $33,000. Synergy Asset Management LLC bought a new stake in Equinor ASA during the 4th quarter worth approximately $36,000. R Squared Ltd acquired a new stake in Equinor ASA during the 4th quarter valued at $48,000. Finally, Bruce G. Allen Investments LLC raised its position in Equinor ASA by 363.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,928 shares of the company’s stock valued at $49,000 after purchasing an additional 1,512 shares during the last quarter. Institutional investors and hedge funds own 5.51% of the company’s stock.

Equinor ASA Company Profile

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.