Equinor ASA (EQNR) Shares Gap Down to $23.96

Equinor ASA (NYSE:EQNR) shares gapped down before the market opened on Friday . The stock had previously closed at $25.31, but opened at $23.96. Equinor ASA shares last traded at $22.89, with a volume of 2143579 shares traded.

A number of brokerages recently commented on EQNR. Bank of America upgraded Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Friday, October 5th. Zacks Investment Research upgraded Equinor ASA from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, October 16th. Piper Jaffray Companies restated an “overweight” rating on shares of Equinor ASA in a research note on Tuesday, October 23rd. ValuEngine lowered Equinor ASA from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, Berenberg Bank initiated coverage on Equinor ASA in a research report on Tuesday, September 11th. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Equinor ASA currently has a consensus rating of “Buy” and a consensus target price of $28.00.

The company has a quick ratio of 1.19, a current ratio of 1.36 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $76.42 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 0.48 and a beta of 0.95.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings results on Wednesday, October 24th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.08. Equinor ASA had a return on equity of 15.62% and a net margin of 9.08%. The company had revenue of $19.14 billion during the quarter. On average, research analysts expect that Equinor ASA will post 2.14 earnings per share for the current year.

The firm also recently declared a special dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, November 21st will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, November 20th. This represents a yield of 3.4%. Equinor ASA’s dividend payout ratio (DPR) is presently 48.55%.

Hedge funds have recently made changes to their positions in the business. Stratos Wealth Partners LTD. acquired a new position in Equinor ASA during the 3rd quarter worth $104,000. Tower Research Capital LLC TRC boosted its position in Equinor ASA by 1,621.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,425 shares of the company’s stock worth $125,000 after acquiring an additional 4,168 shares during the period. Proficio Capital Partners LLC acquired a new position in Equinor ASA during the 2nd quarter worth $118,000. CIBC Private Wealth Group LLC acquired a new position in Equinor ASA during the 2nd quarter worth $156,000. Finally, Baker Ellis Asset Management LLC acquired a new position in Equinor ASA during the 2nd quarter worth $161,000. Institutional investors own 5.42% of the company’s stock.

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About Equinor ASA (NYSE:EQNR)

Equinor ASA, an energy company, explores for, produces, transports, refines, and markets petroleum and petroleum-derived products, and other forms of energy in Norway and internationally. The company operates through Development & Production Norway; Development & Production USA; Development & Production International; Marketing, Midstream & Processing; New Energy Solutions; Technology, Projects & Drilling; Exploration; and Global Strategy & Business Development segments.

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