Equinor ASA (NYSE:EQNR) Reaches New 1-Year Low – What’s Next?

Equinor ASA (NYSE:EQNR)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $23.89 and last traded at $23.89, with a volume of 1452816 shares. The stock had previously closed at $24.58.

Analyst Ratings Changes

Several research firms recently commented on EQNR. Barclays upgraded Equinor ASA to a “hold” rating in a report on Wednesday, October 2nd. Citigroup upgraded shares of Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley upgraded shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 target price for the company in a research note on Monday, October 14th. UBS Group raised Equinor ASA from a “sell” rating to a “neutral” rating in a report on Thursday, August 8th. Finally, TD Cowen reduced their price objective on Equinor ASA from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.90.

Equinor ASA Trading Down 3.7 %

The stock has a 50 day moving average of $25.41 and a 200-day moving average of $26.81. The company has a market capitalization of $66.08 billion, a P/E ratio of 7.61, a P/E/G ratio of 2.36 and a beta of 0.83. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. Equinor ASA had a return on equity of 19.97% and a net margin of 8.95%. The business had revenue of $25.45 billion for the quarter, compared to the consensus estimate of $24.45 billion. During the same period in the previous year, the business earned $0.92 earnings per share. On average, research analysts predict that Equinor ASA will post 3.32 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EQNR. Milestone Asset Management LLC bought a new stake in Equinor ASA during the second quarter worth approximately $794,000. Cetera Investment Advisers lifted its position in Equinor ASA by 52.7% in the second quarter. Cetera Investment Advisers now owns 69,718 shares of the company’s stock worth $1,991,000 after buying an additional 24,052 shares during the last quarter. US Bancorp DE boosted its stake in Equinor ASA by 228.5% during the first quarter. US Bancorp DE now owns 161,639 shares of the company’s stock worth $4,369,000 after buying an additional 112,438 shares during the period. O Shaughnessy Asset Management LLC increased its position in Equinor ASA by 90.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 44,592 shares of the company’s stock valued at $1,205,000 after acquiring an additional 21,130 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Equinor ASA in the first quarter valued at $670,000. 5.51% of the stock is owned by hedge funds and other institutional investors.

About Equinor ASA

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.