Equinor ASA (NYSE:EQNR) Shares Gap Down to $31.11

Equinor ASA (NYSE:EQNR – Get Rating)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $31.11, but opened at $30.26. Equinor ASA shares last traded at $30.77, with a volume of 1,145,920 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EQNR shares. Morgan Stanley raised Equinor ASA from an “underweight” rating to an “equal weight” rating in a report on Thursday, February 9th. The Goldman Sachs Group upgraded Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Thursday, January 26th. Sanford C. Bernstein raised Equinor ASA from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 3rd. JPMorgan Chase & Co. lowered Equinor ASA from a “neutral” rating to an “underweight” rating in a research note on Thursday, January 19th. Finally, HSBC lowered Equinor ASA from a “buy” rating to a “hold” rating in a research note on Thursday, December 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $318.63.

Equinor ASA Price Performance

The firm’s 50 day moving average is $31.67 and its 200-day moving average is $34.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.67 and a current ratio of 1.78.

Equinor ASA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 25th. Shareholders of record on Tuesday, January 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, January 9th. This represents a $0.80 dividend on an annualized basis and a yield of 2.56%. Equinor ASA’s dividend payout ratio (DPR) is presently 7.51%.

Institutional Investors Weigh In On Equinor ASA

A number of hedge funds and other institutional investors have recently modified their holdings of EQNR. Guardian Wealth Advisors LLC purchased a new position in Equinor ASA during the 3rd quarter worth $25,000. Godsey & Gibb Inc. acquired a new position in Equinor ASA during the fourth quarter worth about $27,000. Trustcore Financial Services LLC grew its holdings in shares of Equinor ASA by 1,877.8% during the third quarter. Trustcore Financial Services LLC now owns 890 shares of the company’s stock worth $29,000 after buying an additional 845 shares in the last quarter. Motco purchased a new stake in shares of Equinor ASA during the third quarter worth about $40,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Equinor ASA during the third quarter worth about $44,000. 5.46% of the stock is currently owned by institutional investors and hedge funds.

About Equinor ASA

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Equinor ASA engages in the exploration, production, transport, refining, and marketing of petroleum and petroleum-derived products. It operates through the following segments: Exploration and Production Norway, Exploration and Production International, Exploration and Production USA, Marketing, Midstream, and Processing, Renewables, and and Other.