Equinor ASA (EQNR) Shares Gap Down to $23.95

Equinor ASA (NYSE:EQNR) gapped down prior to trading on Thursday . The stock had previously closed at $24.98, but opened at $23.95. Equinor ASA shares last traded at $23.00, with a volume of 2383775 shares trading hands.

Several brokerages recently issued reports on EQNR. Bank of America raised shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Friday, October 5th. Zacks Investment Research raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating and set a $31.00 target price on the stock in a research note on Tuesday, October 16th. Piper Jaffray Companies reissued an “overweight” rating on shares of Equinor ASA in a research note on Tuesday, October 23rd. ValuEngine lowered shares of Equinor ASA from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, Berenberg Bank began coverage on shares of Equinor ASA in a research note on Tuesday, September 11th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Equinor ASA has an average rating of “Hold” and an average target price of $28.00.

The company has a market capitalization of $79.72 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 0.51 and a beta of 0.95. The company has a current ratio of 1.36, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Equinor ASA (NYSE:EQNR) last issued its earnings results on Wednesday, October 24th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.08. The business had revenue of $19.14 billion for the quarter. Equinor ASA had a net margin of 9.08% and a return on equity of 15.62%. Equities analysts anticipate that Equinor ASA will post 2.14 EPS for the current fiscal year.

The business also recently announced a special dividend, which was paid on Friday, November 30th. Investors of record on Wednesday, November 21st were paid a dividend of $0.23 per share. This represents a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, November 20th. Equinor ASA’s dividend payout ratio is presently 48.55%.

Several institutional investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. bought a new position in shares of Equinor ASA in the third quarter valued at $8,773,000. Marshall Wace LLP bought a new position in shares of Equinor ASA in the third quarter valued at $1,012,000. Morgan Stanley lifted its stake in shares of Equinor ASA by 5.2% in the third quarter. Morgan Stanley now owns 229,851 shares of the company’s stock valued at $6,482,000 after buying an additional 11,375 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of Equinor ASA by 2,324.6% in the third quarter. Rehmann Capital Advisory Group now owns 7,783 shares of the company’s stock valued at $276,000 after buying an additional 7,462 shares in the last quarter. Finally, Knowledge Leaders Capital LLC lifted its stake in shares of Equinor ASA by 59.6% in the third quarter. Knowledge Leaders Capital LLC now owns 14,248 shares of the company’s stock valued at $402,000 after buying an additional 5,322 shares in the last quarter. 5.41% of the stock is currently owned by hedge funds and other institutional investors.

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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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