Equinor ASA (NYSE:EQNR) Shares Gap Down – Here’s What Happened

Equinor ASA (NYSE:EQNR) gapped down before the market opened on Monday . The stock had previously closed at $23.19, but opened at $22.61. Equinor ASA shares last traded at $22.53, with a volume of 441,219 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Redburn Atlantic raised shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 20th. StockNews.com cut shares of Equinor ASA from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 12th. Barclays upgraded Equinor ASA from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 25th. Berenberg Bank upgraded Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. raised Equinor ASA from an “underweight” rating to an “overweight” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.90.

Equinor ASA Price Performance

The stock’s 50-day moving average is $24.00 and its two-hundred day moving average is $25.77. The company has a market capitalization of $63.34 billion, a PE ratio of 6.96, a price-to-earnings-growth ratio of 1.20 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 issued its quarterly earnings results on Thursday, October 24th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. The firm had revenue of $25.45 billion during the quarter, compared to analyst estimates of $24.45 billion. Equinor ASA had a return on equity of 19.97% and a net margin of 8.95%. During the same period last year, the company earned $0.92 EPS. On average, equities analysts predict that Equinor ASA will post 3.35 EPS for the current year.

Hedge Funds Weigh In On Equinor ASA

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new stake in Equinor ASA during the 3rd quarter valued at $1,933,000. Cetera Investment Advisers increased its position in shares of Equinor ASA by 52.7% in the 2nd quarter. Cetera Investment Advisers now owns 69,718 shares of the company’s stock valued at $1,991,000 after acquiring an additional 24,052 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Equinor ASA in the third quarter worth about $2,509,000. Truist Financial Corp increased its stake in shares of Equinor ASA by 9.2% in the second quarter. Truist Financial Corp now owns 13,900 shares of the company’s stock worth $397,000 after acquiring an additional 1,167 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of Equinor ASA by 52.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 86,174 shares of the company’s stock valued at $2,183,000 after buying an additional 29,516 shares during the period. 5.51% of the stock is currently owned by 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.