TD Cowen Initiates Coverage on Equinor ASA (NYSE:EQNR)

Research analysts at TD Cowen initiated coverage on shares of Equinor ASA (NYSE:EQNR) in a note issued to investors on Wednesday, MarketBeat reports. The brokerage set a “hold” rating and a $28.00 price target on the stock. TD Cowen’s price target would suggest a potential upside of 0.57% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. StockNews.com upgraded Equinor ASA from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Morgan Stanley upgraded Equinor ASA from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $26.40 to $28.50 in a research report on Tuesday, February 20th. Finally, DZ Bank lowered Equinor ASA from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Equinor ASA has an average rating of “Hold” and an average price target of $28.25.

Equinor ASA Price Performance

EQNR stock opened at $27.84 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.71 and a quick ratio of 1.60. The business has a 50 day simple moving average of $26.58 and a 200-day simple moving average of $29.57. The firm has a market capitalization of $86.91 billion, a PE ratio of 7.12, a price-to-earnings-growth ratio of 7.91 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.44). The company had revenue of $29.05 billion during the quarter, compared to analysts’ expectations of $27.35 billion. Equinor ASA had a net margin of 11.09% and a return on equity of 20.32%. Equities research analysts anticipate that Equinor ASA will post 3.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EQNR. Folketrygdfondet lifted its stake in Equinor ASA by 0.9% during the fourth quarter. Folketrygdfondet now owns 107,959,982 shares of the company’s stock worth $3,415,854,000 after purchasing an additional 917,330 shares in the last quarter. Cambiar Investors LLC acquired a new position in Equinor ASA during the third quarter worth $21,931,000. FMR LLC lifted its stake in Equinor ASA by 4.5% during the third quarter. FMR LLC now owns 10,284,862 shares of the company’s stock worth $337,241,000 after purchasing an additional 444,435 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in Equinor ASA by 39.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,045,722 shares of the company’s stock worth $33,105,000 after purchasing an additional 295,162 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Equinor ASA by 9.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,432,242 shares of the company’s stock worth $108,596,000 after purchasing an additional 285,662 shares in the last quarter. 5.51% of the stock is currently owned by institutional investors and hedge funds.

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.