Brokerages Set Equinor ASA (NYSE:EQNR) Price Target at $26.90

Shares of Equinor ASA (NYSE:EQNR) have been assigned a consensus rating of “Reduce” from the nine analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $26.90.

EQNR has been the topic of several recent analyst reports. Barclays upgraded Equinor ASA to a “hold” rating in a report on Wednesday, October 2nd. Citigroup upgraded Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. StockNews.com upgraded Equinor ASA from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 5th. UBS Group upgraded Equinor ASA from a “sell” rating to a “neutral” rating in a report on Thursday, August 8th. Finally, Morgan Stanley upgraded Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 target price on the stock in a report on Monday, October 14th.

Equinor ASA Price Performance

Shares of NYSE EQNR opened at $22.78 on Friday. Equinor ASA has a twelve month low of $22.15 and a twelve month high of $33.63. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $63.62 billion, a price-to-earnings ratio of 6.99, a PEG ratio of 5.01 and a beta of 0.84. The firm has a 50-day moving average of $24.87 and a two-hundred day moving average of $26.60.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. Equinor ASA had a net margin of 8.95% and a return on equity of 19.97%. The company had revenue of $25.45 billion during the quarter, compared to the consensus estimate of $24.45 billion. During the same period in the prior year, the company earned $0.92 EPS. As a group, analysts expect that Equinor ASA will post 3.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

A number of hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in Equinor ASA by 2,359.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,783,338 shares of the company’s stock worth $183,354,000 after buying an additional 6,507,511 shares during the last quarter. Earnest Partners LLC increased its holdings in Equinor ASA by 4.5% in the first quarter. Earnest Partners LLC now owns 3,865,504 shares of the company’s stock worth $104,485,000 after buying an additional 166,131 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Equinor ASA by 1.4% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 862,570 shares of the company’s stock worth $24,635,000 after buying an additional 11,500 shares during the last quarter. Cambiar Investors LLC boosted its position in Equinor ASA by 3.9% during the second quarter. Cambiar Investors LLC now owns 572,243 shares of the company’s stock worth $16,343,000 after purchasing an additional 21,469 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Equinor ASA by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 479,848 shares of the company’s stock worth $13,704,000 after purchasing an additional 2,894 shares during the period. 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.