Equinor ASA (NYSE:EQNR – Get Free Report) shares traded up 6% on Wednesday . The company traded as high as $39.90 and last traded at $39.8360. Approximately 2,931,053 shares were traded during trading, a decline of 49% from the average session volume of 5,802,419 shares. The stock had previously closed at $37.59.
Wall Street Analysts Forecast Growth
EQNR has been the subject of several research reports. TD Cowen lifted their target price on shares of Equinor ASA from $37.00 to $38.00 and gave the company a “hold” rating in a report on Friday. Rothschild & Co Redburn raised Equinor ASA from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 9th. Zacks Research lowered shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings upgraded shares of Equinor ASA from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Finally, Royal Bank Of Canada upgraded shares of Equinor ASA from an “underperform” rating to a “sector perform” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Equinor ASA currently has an average rating of “Hold” and an average target price of $39.20.
Read Our Latest Research Report on Equinor ASA
Equinor ASA Stock Performance
Equinor ASA (NYSE:EQNR – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). Equinor ASA had a net margin of 7.92% and a return on equity of 23.83%. The business had revenue of $34.02 billion during the quarter, compared to analyst estimates of $34.03 billion. As a group, analysts anticipate that Equinor ASA will post 4.73 earnings per share for the current year.
Equinor ASA Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Friday, August 14th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.56 dividend on an annualized basis and a yield of 3.8%. Equinor ASA’s payout ratio is 58.72%.
Institutional Trading of Equinor ASA
Hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. boosted its position in shares of Equinor ASA by 1,794.0% in the 4th quarter. UMB Bank n.a. now owns 1,269 shares of the company’s stock valued at $30,000 after purchasing an additional 1,202 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Equinor ASA by 86.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,318 shares of the company’s stock valued at $31,000 after acquiring an additional 610 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in shares of Equinor ASA during the first quarter worth approximately $35,000. Eastern Bank purchased a new stake in Equinor ASA in the 2nd quarter valued at $35,000. Finally, McIlrath & Eck LLC acquired a new stake in Equinor ASA during the 2nd quarter worth $36,000. Institutional investors and hedge funds own 5.51% of the company’s stock.
Equinor ASA Company Profile
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.
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