Equinor ASA (NYSE:EQNR) Price Target Raised to $42.00 at TD Cowen

Equinor ASA (NYSE:EQNR) had its price objective raised by investment analysts at TD Cowen from $40.00 to $42.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s target price indicates a potential upside of 13.31% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Wall Street Zen raised Equinor ASA from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Rothschild & Co Redburn upgraded Equinor ASA from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 9th. UBS Group upgraded Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Friday, March 20th. Pareto Securities lowered Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 27th. Finally, Zacks Research lowered Equinor ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $41.20.

Equinor ASA Stock Down 1.6%

Equinor ASA stock traded down $0.58 during midday trading on Friday, hitting $37.07. 985,162 shares of the company were exchanged, compared to its average volume of 6,339,515. The company’s fifty day moving average price is $38.90 and its 200-day moving average price is $31.08. The company has a market cap of $109.15 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 1.12 and a beta of 0.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.24 and a quick ratio of 1.12. Equinor ASA has a fifty-two week low of $22.26 and a fifty-two week high of $43.46.

Equinor ASA (NYSE:EQNR) last announced its earnings results on Tuesday, May 5th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.47. The company had revenue of $28.40 billion for the quarter, compared to analyst estimates of $28.73 billion. Equinor ASA had a return on equity of 20.01% and a net margin of 5.30%. On average, research analysts predict that Equinor ASA will post 5.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Equinor ASA

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirabella Financial Services LLP purchased a new stake in shares of Equinor ASA during the 3rd quarter worth about $7,314,000. JPMorgan Chase & Co. raised its stake in shares of Equinor ASA by 1,437.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,286,328 shares of the company’s stock worth $55,741,000 after purchasing an additional 2,137,642 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Equinor ASA during the 3rd quarter worth about $21,366,000. Fisher Asset Management LLC raised its stake in shares of Equinor ASA by 2.2% during the 3rd quarter. Fisher Asset Management LLC now owns 1,827,302 shares of the company’s stock worth $44,550,000 after purchasing an additional 39,524 shares in the last quarter. Finally, ABC Arbitrage SA raised its stake in shares of Equinor ASA by 100.8% during the 3rd quarter. ABC Arbitrage SA now owns 515,544 shares of the company’s stock worth $12,569,000 after purchasing an additional 258,767 shares in the last quarter. 5.51% of the stock is owned by hedge funds and other institutional investors.

About Equinor ASA

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.