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

Equinor ASA (NYSE:EQNR)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $22.26 and last traded at $22.26, with a volume of 473826 shares traded. The stock had previously closed at $23.61.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. 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. StockNews.com upgraded Equinor ASA from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. UBS Group raised Equinor ASA from a “sell” rating to a “neutral” rating in a report on Thursday, August 8th. Barclays upgraded Equinor ASA to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Citigroup upgraded shares of Equinor ASA to a “strong sell” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $26.90.

Equinor ASA Trading Down 4.9 %

The company has a 50 day moving average of $25.13 and a 200 day moving average of $26.69. The firm has a market cap of $62.73 billion, a price-to-earnings ratio of 7.24, a price-to-earnings-growth ratio of 5.20 and a beta of 0.84. 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 posted its earnings results on Thursday, October 24th. The company reported $0.79 earnings per share 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 quarter in the prior year, the firm earned $0.92 EPS. As a group, research analysts anticipate that Equinor ASA will post 3.26 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Atwood & Palmer Inc. bought a new position in Equinor ASA in the 2nd quarter valued at $25,000. Reston Wealth Management LLC bought a new position in shares of Equinor ASA in the third quarter valued at about $31,000. Rothschild Investment LLC acquired a new position in Equinor ASA during the 2nd quarter worth about $32,000. EverSource Wealth Advisors LLC lifted its position in Equinor ASA by 27.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock worth $45,000 after buying an additional 365 shares in the last quarter. Finally, Bruce G. Allen Investments LLC grew its holdings in Equinor ASA by 363.5% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,928 shares of the company’s stock worth $49,000 after acquiring an additional 1,512 shares during the last quarter. Institutional investors own 5.51% of the company’s stock.

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.