Equinor ASA (NYSE:EQNR) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Equinor ASA (NYSE:EQNR) from a buy rating to a strong-buy rating in a research note issued to investors on Friday morning.

Separately, TD Cowen cut their price objective on Equinor ASA from $30.00 to $28.00 and set a hold rating for the company in a research report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinor ASA currently has a consensus rating of Hold and an average target price of $28.25.

Equinor ASA Trading Up 0.0 %

NYSE:EQNR opened at $26.00 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.53 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $27.75 and its 200-day moving average is $27.46. The firm has a market cap of $72.61 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 3.57 and a beta of 0.84. Equinor ASA has a 12 month low of $24.44 and a 12 month high of $34.73.

Equinor ASA (NYSE:EQNR) last announced its earnings results on Wednesday, July 24th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Equinor ASA had a net margin of 9.11% and a return on equity of 20.65%. The firm had revenue of $25.54 billion for the quarter, compared to the consensus estimate of $25.93 billion. During the same quarter last year, the firm posted $0.74 EPS. Equities analysts anticipate that Equinor ASA will post 3.47 EPS for the current year.

Equinor ASA Cuts Dividend

The business also recently declared a — dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Monday, August 19th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a yield of 4.1%. Equinor ASA’s dividend payout ratio is 35.60%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Atomi Financial Group Inc. acquired a new stake in Equinor ASA during the second quarter worth about $271,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Equinor ASA by 401.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 172,737 shares of the company’s stock worth $4,933,000 after purchasing an additional 138,273 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Equinor ASA by 42.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,261 shares of the company’s stock valued at $122,000 after purchasing an additional 1,278 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Equinor ASA by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 479,848 shares of the company’s stock valued at $13,704,000 after purchasing an additional 2,894 shares in the last quarter. Finally, Summit Global Investments raised its stake in shares of Equinor ASA by 290.0% in the second quarter. Summit Global Investments now owns 199,823 shares of the company’s stock valued at $5,707,000 after purchasing an additional 148,580 shares in the last quarter. Institutional investors and hedge funds own 5.51% of the company’s stock.

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.