Equinor ASA (NYSE:EQNR – Get Free Report)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $45.06 and last traded at $44.8230, with a volume of 422614 shares changing hands. The stock had previously closed at $43.39.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on EQNR. Wall Street Zen cut Equinor ASA from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 22nd. Royal Bank Of Canada raised shares of Equinor ASA from an “underperform” rating to a “sector perform” rating in a report on Thursday, July 23rd. Zacks Research lowered shares of Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings raised shares of Equinor ASA from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Finally, TD Cowen increased their price target on shares of Equinor ASA from $37.00 to $38.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.20.
View Our Latest Research Report on Equinor ASA
Equinor ASA Stock Up 3.8%
Equinor ASA (NYSE:EQNR – Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). The firm had revenue of $34.02 billion during the quarter, compared to the consensus estimate of $34.03 billion. Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%. As a group, analysts predict that Equinor ASA will post 4.92 EPS for the current fiscal year.
Equinor ASA Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 16th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.56 annualized dividend and a yield of 3.5%. Equinor ASA’s dividend payout ratio is currently 34.88%.
Institutional Investors Weigh In On Equinor ASA
A number of institutional investors and hedge funds have recently bought and sold shares of EQNR. Engineers Gate Manager LP purchased a new stake in shares of Equinor ASA during the second quarter worth about $1,195,000. Integrated Wealth Concepts LLC grew its holdings in Equinor ASA by 50.4% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 24,266 shares of the company’s stock valued at $762,000 after buying an additional 8,136 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Equinor ASA by 38.3% in the second quarter. Baird Financial Group Inc. now owns 11,527 shares of the company’s stock worth $362,000 after buying an additional 3,195 shares in the last quarter. Allianz Asset Management GmbH bought a new position in shares of Equinor ASA during the second quarter worth $301,000. Finally, Corient Private Wealth LP boosted its position in shares of Equinor ASA by 26.4% during the second quarter. Corient Private Wealth LP now owns 65,186 shares of the company’s stock worth $2,047,000 after acquiring an additional 13,612 shares during the last quarter. 5.51% of the stock is owned by institutional investors.
Equinor ASA Company Profile
Equinor ASA is a Norwegian energy company engaged primarily in the exploration, development, production and marketing of oil and natural gas. The company also supplies crude oil, natural gas, refined petroleum products and electricity, and participates in energy trading and related activities.
Equinor has expanded beyond its traditional petroleum business into lower-carbon energy, including offshore wind, carbon capture and storage, and hydrogen-related projects. Its operations and partnerships span several regions, with significant activities on the Norwegian continental shelf as well as projects in Europe, North America, South America and other international markets.
The company was established in 1972 as Den norske stats oljeselskap, commonly known as Statoil, and adopted the name Equinor in 2018 to reflect its broader energy strategy.
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