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

TD Cowen began coverage on shares of Equinor ASA (NYSE:EQNR) in a research note published on Wednesday, MarketBeat reports. The firm issued a hold rating and a $28.00 price objective on the stock.

Several other research firms have also weighed in on EQNR. Morgan Stanley upgraded Equinor ASA from an underweight rating to an equal weight rating and raised their target price for the company from $26.40 to $28.50 in a report on Tuesday, February 20th. DZ Bank lowered Equinor ASA from a buy rating to a hold rating in a report on Thursday, February 8th. Finally, StockNews.com upgraded Equinor ASA from a hold rating to a buy rating in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $28.25.

Equinor ASA Price Performance

Shares of NYSE:EQNR opened at $27.69 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.60 and a debt-to-equity ratio of 0.51. Equinor ASA has a 1 year low of $24.44 and a 1 year high of $34.73. The business has a fifty day simple moving average of $26.62 and a 200 day simple moving average of $29.50. The firm has a market cap of $86.45 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 8.08 and a beta of 0.85.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.44). Equinor ASA had a return on equity of 19.78% and a net margin of 9.30%. The firm had revenue of $29.05 billion for the quarter, compared to analysts’ expectations of $27.35 billion. As a group, sell-side analysts predict that Equinor ASA will post 3.37 earnings per share for the current fiscal year.

Equinor ASA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Thursday, May 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend is Wednesday, May 15th. Equinor ASA’s dividend payout ratio is currently 30.34%.

Institutional Investors Weigh In On Equinor ASA

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Legacy Wealth Asset Management LLC grew its position in Equinor ASA by 5.5% during the first quarter. Legacy Wealth Asset Management LLC now owns 47,863 shares of the company’s stock worth $1,294,000 after buying an additional 2,478 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Equinor ASA during the first quarter worth about $550,000. Allspring Global Investments Holdings LLC acquired a new stake in Equinor ASA during the first quarter worth about $81,000. Sandy Cove Advisors LLC acquired a new stake in Equinor ASA during the first quarter worth about $203,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Equinor ASA during the first quarter worth about $113,000. 5.51% of the stock is owned by institutional investors and hedge funds.

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.