Equinor ASA (NYSE:EQNR) Research Coverage Started at TD Cowen

TD Cowen started coverage on shares of Equinor ASA (NYSE:EQNR) in a report issued on Wednesday, Marketbeat reports. The brokerage issued a hold rating and a $28.00 target price on the stock.

EQNR has been the subject of a number of other reports. StockNews.com upgraded shares of Equinor ASA from a hold rating to a buy rating in a research report on Friday, March 22nd. Morgan Stanley upgraded shares of Equinor ASA from an underweight rating to an equal weight rating and raised their price objective for the stock from $26.40 to $28.50 in a research report on Tuesday, February 20th. Finally, DZ Bank cut shares of Equinor ASA from a buy rating to a hold rating in a research report on Thursday, February 8th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $28.25.

Equinor ASA Stock Performance

NYSE:EQNR opened at $27.70 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.60 and a current ratio of 1.71. The company has a fifty day moving average of $26.62 and a two-hundred day moving average of $29.53. The stock has a market capitalization of $86.48 billion, a PE ratio of 8.58, a P/E/G ratio of 8.12 and a beta of 0.85. Equinor ASA has a fifty-two week low of $24.44 and a fifty-two week high of $34.73.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings data 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 company 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 19.78% and a net margin of 9.30%. As a group, research analysts forecast that Equinor ASA will post 3.33 earnings per share for the current fiscal year.

Equinor ASA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.33%. The ex-dividend date is Wednesday, May 15th. Equinor ASA’s dividend payout ratio (DPR) is presently 30.34%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Legacy Wealth Asset Management LLC boosted its stake in Equinor ASA by 5.5% during the first quarter. Legacy Wealth Asset Management LLC now owns 47,863 shares of the company’s stock worth $1,294,000 after buying an additional 2,478 shares during the period. SeaCrest Wealth Management LLC purchased a new position in Equinor ASA during the first quarter worth about $550,000. Allspring Global Investments Holdings LLC purchased a new position in Equinor ASA during the first quarter worth about $81,000. Sandy Cove Advisors LLC purchased a new position in Equinor ASA during the first quarter worth about $203,000. Finally, Northwest Investment Counselors LLC purchased a new position in Equinor ASA during the first quarter worth about $113,000. Hedge funds and other 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.