Equinor ASA (NYSE:EQNR) Shares Up 4.8% – Time to Buy?

Equinor ASA (NYSE:EQNR) shares traded up 4.8% on Monday . The stock traded as high as $24.31 and last traded at $24.27. 1,304,755 shares were traded during trading, a decline of 70% from the average session volume of 4,400,312 shares. The stock had previously closed at $23.17.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. HSBC raised Equinor ASA from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. upgraded Equinor ASA from an “underweight” rating to an “overweight” rating in a research report on Monday, December 9th. Morgan Stanley upgraded Equinor ASA from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $25.80 to $30.90 in a report on Tuesday, January 7th. Pareto Securities upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Danske raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.45.

Equinor ASA Price Performance

The firm has a 50-day moving average of $23.93 and a 200 day moving average of $24.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.36. The company has a market capitalization of $67.52 billion, a PE ratio of 7.77, a PEG ratio of 0.58 and a beta of 0.79.

Equinor ASA (NYSE:EQNR) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.19). Equinor ASA had a return on equity of 20.33% and a net margin of 8.49%. As a group, research analysts anticipate that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Equinor ASA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, February 14th. This represents a $1.40 dividend on an annualized basis and a yield of 5.79%. Equinor ASA’s dividend payout ratio is presently 37.30%.

Hedge Funds Weigh In On Equinor ASA

A number of institutional investors and hedge funds have recently modified their holdings of EQNR. Manchester Capital Management LLC bought a new position in Equinor ASA in the fourth quarter valued at about $33,000. GeoWealth Management LLC lifted its stake in shares of Equinor ASA by 254.5% in the 4th quarter. GeoWealth Management LLC now owns 1,372 shares of the company’s stock worth $33,000 after purchasing an additional 985 shares during the period. Synergy Asset Management LLC purchased a new position in shares of Equinor ASA in the fourth quarter worth approximately $36,000. R Squared Ltd bought a new stake in Equinor ASA during the fourth quarter valued at approximately $48,000. Finally, Bessemer Group Inc. increased its holdings in Equinor ASA by 1,009.8% during the fourth quarter. Bessemer Group Inc. now owns 2,497 shares of the company’s stock valued at $60,000 after buying an additional 2,272 shares during the last quarter. 5.51% of the stock is currently 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.