Equinor ASA (NYSE:EQNR) Sets New 1-Year Low – Here’s Why

Equinor ASA (NYSE:EQNR) shares hit a new 52-week low on Friday . The stock traded as low as $23.95 and last traded at $23.99, with a volume of 875851 shares trading hands. The stock had previously closed at $24.32.

Analyst Ratings Changes

EQNR has been the subject of several analyst reports. Citigroup upgraded shares of Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. TD Cowen dropped their target price 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. Barclays upgraded Equinor ASA to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley upgraded Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price objective for the company in a report on Monday, October 14th. Finally, StockNews.com lowered Equinor ASA from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Equinor ASA has an average rating of “Hold” and a consensus price target of $26.90.

Equinor ASA Stock Down 0.7 %

The stock has a market cap of $71.12 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 2.36 and a beta of 0.83. The business has a fifty day moving average of $25.87 and a 200-day moving average of $26.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.53 and a quick ratio of 1.43.

Equinor ASA (NYSE:EQNR) last issued its earnings results on Wednesday, July 24th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. Equinor ASA had a return on equity of 20.65% and a net margin of 9.11%. The business had revenue of $25.54 billion during the quarter, compared to analysts’ expectations of $25.93 billion. During the same period in the prior year, the business earned $0.74 EPS. Equities research analysts anticipate that Equinor ASA will post 3.34 earnings per share for the current year.

Equinor ASA Cuts Dividend

The firm also recently announced a — dividend, which was paid on Wednesday, August 28th. Shareholders of record on Monday, August 19th were issued a dividend of $0.35 per share. This represents a yield of 4.1%. The ex-dividend date of this dividend was Monday, August 19th. Equinor ASA’s payout ratio is 43.34%.

Institutional Investors Weigh In On Equinor ASA

Several large investors have recently modified their holdings of EQNR. Price T Rowe Associates Inc. MD raised its stake in Equinor ASA by 2,359.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,783,338 shares of the company’s stock worth $183,354,000 after buying an additional 6,507,511 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Equinor ASA during the 2nd quarter worth $5,271,000. Earnest Partners LLC boosted its position in Equinor ASA by 4.5% during the first quarter. Earnest Partners LLC now owns 3,865,504 shares of the company’s stock valued at $104,485,000 after purchasing an additional 166,131 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Equinor ASA by 1,334.9% in the second quarter. Commonwealth Equity Services LLC now owns 176,993 shares of the company’s stock valued at $5,055,000 after purchasing an additional 164,658 shares during the last quarter. Finally, Summit Global Investments raised its holdings in Equinor ASA by 290.0% in the second quarter. Summit Global Investments now owns 199,823 shares of the company’s stock worth $5,707,000 after purchasing an additional 148,580 shares in the last quarter. Institutional investors 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.