Equinor ASA (NYSE:EQNR) Given New $38.00 Price Target at TD Cowen

Equinor ASA (NYSE:EQNR) had its price objective boosted by TD Cowen from $37.00 to $38.00 in a report published on Friday morning, MarketBeat reports. The firm currently has a hold rating on the stock.

A number of other equities analysts have also issued reports on the company. Royal Bank Of Canada raised Equinor ASA from an “underperform” rating to a “sector perform” rating in a report on Thursday. DZ Bank raised Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Wall Street Zen lowered Equinor ASA from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Pareto Securities cut Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 27th. Finally, Zacks Research lowered Equinor ASA from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Equinor ASA presently has a consensus rating of “Hold” and an average price target of $39.20.

Equinor ASA Trading Down 1.5%

Shares of NYSE:EQNR opened at $40.38 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.18 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $35.69 and its 200 day moving average price is $33.96. The company has a market cap of $118.91 billion, a PE ratio of 11.00, a P/E/G ratio of 2.62 and a beta of 0.06. Equinor ASA has a fifty-two week low of $22.26 and a fifty-two week high of $43.46.

Equinor ASA (NYSE:EQNR) last posted its earnings results on Wednesday, July 22nd. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.06). Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%.The firm had revenue of $34.02 billion during the quarter, compared to the consensus estimate of $34.03 billion. Sell-side analysts anticipate that Equinor ASA will post 4.85 earnings per share for the current year.

Equinor ASA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Friday, August 14th will be given a $0.39 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.56 annualized dividend and a yield of 3.9%. Equinor ASA’s payout ratio is 34.88%.

Hedge Funds Weigh In On Equinor ASA

Several large investors have recently made changes to their positions in EQNR. Ashton Thomas Private Wealth LLC bought a new stake in Equinor ASA during the fourth quarter worth approximately $4,734,000. QRG Capital Management Inc. increased its holdings in shares of Equinor ASA by 38.5% in the fourth quarter. QRG Capital Management Inc. now owns 125,044 shares of the company’s stock valued at $2,955,000 after buying an additional 34,757 shares in the last quarter. DJE Kapital AG bought a new position in shares of Equinor ASA in the first quarter valued at $2,913,000. Jennison Associates LLC bought a new position in shares of Equinor ASA in the first quarter valued at $8,582,000. Finally, John G Ullman & Associates Inc. lifted its position in shares of Equinor ASA by 58.7% during the 4th quarter. John G Ullman & Associates Inc. now owns 128,809 shares of the company’s stock valued at $3,044,000 after acquiring an additional 47,650 shares during the last quarter. Institutional investors own 5.51% of the company’s stock.

About Equinor ASA

Equinor ASA (NYSE: EQNR) is a Norway-based integrated energy company headquartered in Stavanger. Historically established as Statoil in the 1970s to develop Norway’s petroleum resources, the company changed its name to Equinor in 2018 to reflect a strategic shift toward a broader energy portfolio. Equinor’s operations span the full upstream value chain, including exploration, development and production of oil and natural gas, alongside trading and marketing activities that support its global commercial operations.

In recent years Equinor has pursued a transition strategy that combines continued development of conventional oil and gas resources with growing investments in low‑carbon energy.