Equinor ASA (NYSE:EQNR) Sets New 52-Week High – Here’s What Happened

Equinor ASA (NYSE:EQNR)’s share price hit a new 52-week high on Friday. The stock traded as high as $46.13 and last traded at $45.8820, with a volume of 418,277 shares trading hands. The stock had previously closed at $44.92.

Analyst Ratings Changes

Several research firms recently weighed in on EQNR. Zacks Research raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 25th. Berenberg Bank reiterated a “hold” rating on shares of Equinor ASA in a report on Friday, July 24th. Royal Bank Of Canada upgraded shares of Equinor ASA from an “underperform” rating to a “sector perform” rating in a research note on Thursday, July 23rd. SEB Equity Research reissued a “sell” rating on shares of Equinor ASA in a report on Friday, October 2nd. Finally, Wall Street Zen raised shares of Equinor ASA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $43.47.

Equinor ASA Trading Up 2.3%

The stock has a 50-day moving average price of $42.72 and a two-hundred day moving average price of $39.19. The stock has a market capitalization of $109.88 billion, a PE ratio of 12.51, a PEG ratio of 1.69 and a beta of 0.13. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.10 and a current ratio of 1.18.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings data 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). Equinor ASA had a return on equity of 23.60% and a net margin of 7.92%. The firm had revenue of $34.02 billion during the quarter, compared to analysts’ expectations of $34.03 billion. As a group, equities analysts forecast that Equinor ASA will post 5.60 earnings per share for the current year.

Equinor ASA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be paid a $0.39 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.4%. Equinor ASA’s dividend payout ratio is presently 34.88%.

Institutional Trading of Equinor ASA

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. DJE Kapital AG purchased a new stake in Equinor ASA during the 1st quarter worth approximately $2,913,000. Equitable Holdings Inc. purchased a new position in Equinor ASA during the second quarter worth $893,000. GTS Securities LLC acquired a new position in Equinor ASA in the second quarter valued at $2,162,000. Gibbs Wealth Management acquired a new position in Equinor ASA during the first quarter valued at approximately $1,189,000. Finally, Dimensional Fund Advisors LP grew its stake in Equinor ASA by 24.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 182,992 shares of the company’s stock valued at $7,722,000 after purchasing an additional 36,122 shares in the last quarter. 5.51% of the stock is owned by institutional investors and hedge funds.

Equinor ASA Company Profile

Equinor ASA is a Norwegian energy company engaged in the exploration, development, production, processing, transportation, marketing and trading of oil and natural gas. The company also operates in renewable energy and other lower-carbon activities, including offshore wind, carbon capture and storage, and hydrogen initiatives.

Equinor’s operations are centered on the Norwegian continental shelf, where it is one of the leading producers of oil and natural gas. The company also has international exploration, production and energy projects across regions including Europe, North America, South America and Africa.