Equinor ASA (NYSE:EQNR) Reaches New 52-Week Low – What’s Next?

Equinor ASA (NYSE:EQNR) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $21.41 and last traded at $23.75, with a volume of 5070534 shares changing hands. The stock had previously closed at $22.04.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EQNR shares. HSBC raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Hsbc Global Res upgraded Equinor ASA to a “strong-buy” rating in a report on Monday, February 10th. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Equinor ASA in a report on Thursday, February 6th. StockNews.com cut Equinor ASA from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Pareto Securities raised Equinor ASA from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Equinor ASA has an average rating of “Moderate Buy” and a consensus target price of $28.10.

Equinor ASA Stock Performance

The stock has a market capitalization of $65.90 billion, a price-to-earnings ratio of 7.59, a price-to-earnings-growth ratio of 0.58 and a beta of 0.58. The company has a quick ratio of 1.36, a current ratio of 1.48 and a debt-to-equity ratio of 0.51. The company has a 50 day simple moving average of $24.02 and a 200-day simple moving average of $24.17.

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

Equinor ASA Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 16th will be given a $0.304 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend is Friday, May 16th. Equinor ASA’s payout ratio is 37.30%.

Institutional Investors Weigh In On Equinor ASA

A number of hedge funds have recently added to or reduced their stakes in EQNR. Sarasin & Partners LLP lifted its stake in shares of Equinor ASA by 35.0% in the first quarter. Sarasin & Partners LLP now owns 547,576 shares of the company’s stock valued at $13,870,000 after buying an additional 141,949 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its position in Equinor ASA by 29.8% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 53,171 shares of the company’s stock valued at $1,406,000 after acquiring an additional 12,205 shares in the last quarter. Rhumbline Advisers boosted its stake in Equinor ASA by 20.1% during the 1st quarter. Rhumbline Advisers now owns 35,612 shares of the company’s stock valued at $942,000 after purchasing an additional 5,962 shares during the last quarter. GAMMA Investing LLC increased its holdings in Equinor ASA by 3,508.9% during the 1st quarter. GAMMA Investing LLC now owns 62,290 shares of the company’s stock worth $1,648,000 after purchasing an additional 60,564 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new stake in Equinor ASA during the 1st quarter worth approximately $227,000. Institutional investors and hedge funds 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.