Equinor ASA (NYSE:EQNR) Shares Gap Down – What’s Next?

by · The Markets Daily

Equinor ASA (NYSE:EQNR – Get Free Report)’s share price gapped down before the market opened on Monday . The stock had previously closed at $25.48, but opened at $24.64. Equinor ASA shares last traded at $24.80, with a volume of 474,177 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EQNR. TD Cowen decreased their target price on Equinor ASA from $30.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, July 10th. StockNews.com cut shares of Equinor ASA from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley upgraded 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 note on Monday, October 14th. Barclays raised shares of Equinor ASA to a “hold” rating in a report on Wednesday, October 2nd. Finally, Citigroup raised shares of Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.90.

Read Our Latest Stock Analysis on Equinor ASA

Equinor ASA Price Performance

The stock has a market capitalization of $69.09 billion, a PE ratio of 7.82, a P/E/G ratio of 2.36 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.38. The stock’s fifty day moving average is $25.56 and its 200-day moving average is $26.87.

Equinor ASA (NYSE:EQNR – Get Free Report) last posted its earnings results on Thursday, October 24th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.05. Equinor ASA had a net margin of 8.95% and a return on equity of 19.97%. The business had revenue of $25.45 billion for the quarter, compared to analyst estimates of $24.45 billion. During the same period in the prior year, the company posted $0.92 EPS. As a group, equities analysts predict that Equinor ASA will post 3.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Equinor ASA

A number of institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in Equinor ASA by 2,359.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,783,338 shares of the company’s stock worth $183,354,000 after buying an additional 6,507,511 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Equinor ASA in the third quarter worth approximately $6,203,000. Manning & Napier Advisors LLC purchased a new stake in shares of Equinor ASA during the second quarter worth approximately $5,271,000. Earnest Partners LLC raised its stake in Equinor ASA by 4.5% in the 1st quarter. Earnest Partners LLC now owns 3,865,504 shares of the company’s stock valued at $104,485,000 after purchasing an additional 166,131 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Equinor ASA by 1,334.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 176,993 shares of the company’s stock valued at $5,055,000 after purchasing an additional 164,658 shares during the last quarter. Institutional investors and hedge funds own 5.51% of the company’s stock.

Equinor ASA Company Profile

(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.

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