Equinor ASA (NYSE:EQNR) Receives Average Recommendation of “Reduce” from Brokerages

Equinor ASA (NYSE:EQNR) has received a consensus rating of “Reduce” from the seventeen brokerages that are covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $22.7133.

EQNR has been the topic of several recent research reports. JPMorgan Chase & Co. downgraded shares of Equinor ASA from a “neutral” rating to an “underweight” rating in a report on Tuesday, August 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Equinor ASA in a research report on Thursday. DZ Bank lowered Equinor ASA from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, October 8th. Hsbc Global Res cut Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Finally, Sanford C. Bernstein cut Equinor ASA from an “outperform” rating to a “market perform” rating in a report on Friday, October 17th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. McIlrath & Eck LLC purchased a new position in Equinor ASA during the second quarter worth approximately $36,000. Montag A & Associates Inc. acquired a new stake in shares of Equinor ASA during the 1st quarter worth $53,000. Headlands Technologies LLC purchased a new position in shares of Equinor ASA in the 1st quarter worth $57,000. New Millennium Group LLC purchased a new position in shares of Equinor ASA in the 3rd quarter worth $57,000. Finally, MAI Capital Management boosted its holdings in Equinor ASA by 55.6% in the second quarter. MAI Capital Management now owns 2,339 shares of the company’s stock valued at $59,000 after acquiring an additional 836 shares during the last quarter. 5.51% of the stock is currently owned by hedge funds and other institutional investors.

Equinor ASA Stock Down 0.6%

EQNR opened at $24.30 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.37 and a current ratio of 1.47. The company has a market cap of $71.56 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 0.87 and a beta of 0.48. Equinor ASA has a one year low of $21.41 and a one year high of $28.26. The business’s fifty day moving average is $24.28 and its two-hundred day moving average is $24.71.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.20). Equinor ASA had a return on equity of 14.11% and a net margin of 5.27%.The firm had revenue of $26.06 billion for the quarter, compared to analyst estimates of $23.26 billion. Analysts anticipate that Equinor ASA will post 3.46 EPS for the current fiscal year.

Equinor ASA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, November 14th. This represents a $1.48 dividend on an annualized basis and a yield of 6.1%. This is a boost from Equinor ASA’s previous quarterly dividend of $0.30. Equinor ASA’s dividend payout ratio (DPR) is 57.35%.

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.