Equinor ASA (NYSE:EQNR) Research Coverage Started at TD Cowen

Analysts at TD Cowen began coverage on shares of Equinor ASA (NYSE:EQNR) in a report issued on Wednesday, StockNewsAPI reports. The brokerage set a “hold” rating and a $28.00 price target on the stock. TD Cowen’s price target suggests a potential upside of 3.24% from the stock’s current price.

EQNR has been the topic of a number of other reports. DZ Bank downgraded shares of Equinor ASA from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. StockNews.com raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley raised shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $26.40 to $28.50 in a research note on Tuesday, February 20th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Equinor ASA currently has a consensus rating of “Hold” and a consensus target price of $28.25.

Equinor ASA Stock Performance

NYSE:EQNR opened at $27.12 on Wednesday. The company’s 50-day moving average price is $26.48 and its 200-day moving average price is $29.60. The company has a current ratio of 1.71, a quick ratio of 1.60 and a debt-to-equity ratio of 0.51. The company has a market cap of $84.67 billion, a P/E ratio of 6.94 and a beta of 0.85. Equinor ASA has a twelve month low of $24.44 and a twelve month high of $34.73.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.44). The business had revenue of $29.05 billion during the quarter, compared to analysts’ expectations of $27.35 billion. Equinor ASA had a return on equity of 20.32% and a net margin of 11.09%. On average, sell-side analysts forecast that Equinor ASA will post 3.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Folketrygdfondet lifted its stake in Equinor ASA by 0.9% in the fourth quarter. Folketrygdfondet now owns 107,959,982 shares of the company’s stock worth $3,415,854,000 after acquiring an additional 917,330 shares during the last quarter. FMR LLC lifted its position in shares of Equinor ASA by 4.5% during the 3rd quarter. FMR LLC now owns 10,284,862 shares of the company’s stock worth $337,241,000 after buying an additional 444,435 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Equinor ASA by 9.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,432,242 shares of the company’s stock worth $108,596,000 after buying an additional 285,662 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Equinor ASA by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 2,774,455 shares of the company’s stock worth $90,974,000 after buying an additional 134,688 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Equinor ASA by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,438,946 shares of the company’s stock worth $47,183,000 after buying an additional 18,694 shares during 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.