Equinor ASA (NYSE:EQNR) Sets New 12-Month Low – Here’s Why

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EQNR. UBS Group upgraded shares of Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Thursday, August 8th. StockNews.com upgraded Equinor ASA from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Barclays raised Equinor ASA to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley raised shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 target price on the stock in a research note on Monday, October 14th. Finally, Citigroup raised shares of Equinor ASA to a “strong sell” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Equinor ASA has an average rating of “Hold” and an average target price of $26.90.

Equinor ASA Stock Performance

The firm has a market cap of $63.59 billion, a P/E ratio of 6.98, a price-to-earnings-growth ratio of 4.96 and a beta of 0.84. The stock’s 50-day moving average price is $24.87 and its 200 day moving average price is $26.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.38.

Equinor ASA (NYSE:EQNR) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. The firm had revenue of $25.45 billion for the quarter, compared to the consensus estimate of $24.45 billion. Equinor ASA had a net margin of 8.95% and a return on equity of 19.97%. During the same period in the previous year, the company earned $0.92 earnings per share. As a group, equities analysts predict that Equinor ASA will post 3.26 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its stake in Equinor ASA by 27.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock valued at $45,000 after purchasing an additional 365 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in Equinor ASA by 0.7% in the second quarter. Crossmark Global Holdings Inc. now owns 56,658 shares of the company’s stock valued at $1,618,000 after purchasing an additional 402 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Equinor ASA by 2.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,810 shares of the company’s stock valued at $480,000 after purchasing an additional 440 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Equinor ASA by 12.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,804 shares of the company’s stock worth $122,000 after purchasing an additional 543 shares during the last quarter. Finally, Profund Advisors LLC increased its stake in shares of Equinor ASA by 3.0% in the second quarter. Profund Advisors LLC now owns 19,260 shares of the company’s stock valued at $550,000 after buying an additional 559 shares during the period. Institutional investors own 5.51% of the company’s stock.

Equinor ASA Company Profile

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.