Equinor ASA (NYSE:EQNR) Hits New 1-Year Low – Here’s What Happened

by · The Cerbat Gem

Equinor ASA (NYSE:EQNR – Get Free Report) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $22.12 and last traded at $22.13, with a volume of 1040745 shares. The stock had previously closed at $22.68.

Analyst Upgrades and Downgrades

EQNR has been the topic of a number of analyst reports. Citigroup raised Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. Redburn Atlantic raised shares of Equinor ASA from a “neutral” rating to a “buy” rating in a report on Wednesday, November 20th. StockNews.com upgraded shares of Equinor ASA from a “buy” rating to a “strong-buy” rating in a research note on Friday. Morgan Stanley raised shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price objective on the stock in a research report on Monday, October 14th. Finally, Berenberg Bank raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.90.

Check Out Our Latest Report on Equinor ASA

Equinor ASA Price Performance

The stock has a market capitalization of $62.25 billion, a price-to-earnings ratio of 6.84, a P/E/G ratio of 1.20 and a beta of 0.84. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average of $23.87 and a 200-day moving average of $25.72.

Equinor ASA (NYSE:EQNR – Get Free Report) last issued its earnings results on Thursday, October 24th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.05. The business had revenue of $25.45 billion during the quarter, compared to analysts’ expectations of $24.45 billion. Equinor ASA had a net margin of 8.95% and a return on equity of 19.97%. During the same quarter in the prior year, the business posted $0.92 EPS. On average, equities research analysts predict that Equinor ASA will post 3.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

Several large investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in shares of Equinor ASA by 3.7% in the third quarter. Wellington Management Group LLP now owns 3,751,243 shares of the company’s stock valued at $95,019,000 after acquiring an additional 132,157 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in Equinor ASA by 1.4% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 862,570 shares of the company’s stock worth $24,635,000 after purchasing an additional 11,500 shares during the period. Cambiar Investors LLC grew its position in Equinor ASA by 3.9% during the 2nd quarter. Cambiar Investors LLC now owns 572,243 shares of the company’s stock worth $16,343,000 after purchasing an additional 21,469 shares during the last quarter. Fisher Asset Management LLC grew its position in Equinor ASA by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 522,763 shares of the company’s stock worth $13,242,000 after purchasing an additional 16,303 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Equinor ASA by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 479,848 shares of the company’s stock valued at $13,704,000 after purchasing an additional 2,894 shares during the period. Institutional investors and hedge funds own 5.51% of the company’s stock.

About Equinor ASA

(Get Free Report)

Equinor ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and other forms of energy in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; Renewables; and Other segments.

See Also