Equinor ASA (NYSE:EQNR) Sets New 1-Year High – Should You Buy?

Equinor ASA (NYSE:EQNR)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $43.58 and last traded at $43.4820, with a volume of 297468 shares traded. The stock had previously closed at $42.80.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EQNR shares. Royal Bank Of Canada raised shares of Equinor ASA from an “underperform” rating to a “sector perform” rating in a research report on Thursday, July 23rd. Wall Street Zen cut shares of Equinor ASA from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 22nd. DZ Bank raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. TD Cowen raised their target price on shares of Equinor ASA from $37.00 to $38.00 and gave the company a “hold” rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Equinor ASA from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.20.

Equinor ASA Price Performance

The firm has a 50-day moving average of $37.84 and a 200-day moving average of $36.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.10 and a current ratio of 1.18. The firm has a market capitalization of $104.25 billion, a P/E ratio of 11.88, a PEG ratio of 2.73 and a beta of 0.04.

Equinor ASA (NYSE:EQNR) last posted its earnings results on Tuesday, July 21st. The company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%.The business had revenue of $34.02 billion during the quarter, compared to the consensus estimate of $34.03 billion. As a group, analysts predict that Equinor ASA will post 4.92 EPS for the current year.

Equinor ASA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 16th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.56 annualized dividend and a dividend yield of 3.6%. Equinor ASA’s dividend payout ratio (DPR) is 34.88%.

Hedge Funds Weigh In On Equinor ASA

Hedge funds have recently bought and sold shares of the business. Corient Private Wealth LP lifted its stake in Equinor ASA by 26.4% during the 2nd quarter. Corient Private Wealth LP now owns 65,186 shares of the company’s stock valued at $2,047,000 after acquiring an additional 13,612 shares during the period. XY Capital Ltd purchased a new position in shares of Equinor ASA during the second quarter valued at approximately $823,000. Syon Capital LLC raised its holdings in shares of Equinor ASA by 12.4% during the second quarter. Syon Capital LLC now owns 13,875 shares of the company’s stock valued at $436,000 after purchasing an additional 1,533 shares during the last quarter. GTS Securities LLC bought a new position in Equinor ASA during the second quarter valued at approximately $2,162,000. Finally, Empowered Funds LLC boosted its holdings in Equinor ASA by 0.7% in the second quarter. Empowered Funds LLC now owns 124,499 shares of the company’s stock worth $3,909,000 after purchasing an additional 864 shares during the last quarter. Hedge funds and other institutional investors 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.