Equinor ASA (NYSE:EQNR) Cut to Reduce at Kepler Capital Markets

Kepler Capital Markets cut shares of Equinor ASA (NYSE:EQNR) from a hold rating to a reduce rating in a report released on Tuesday, MarketBeat reports.

Several other analysts have also recently issued reports on EQNR. Pareto Securities upgraded Equinor ASA from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Morgan Stanley cut shares of Equinor ASA from an “overweight” rating to an “equal weight” rating and set a $22.70 target price on the stock. in a report on Monday, May 12th. Redburn Atlantic downgraded shares of Equinor ASA from a “buy” rating to a “sell” rating in a research report on Wednesday, April 23rd. Berenberg Bank cut shares of Equinor ASA from a “buy” rating to a “hold” rating and set a $26.44 target price on the stock. in a report on Tuesday. Finally, Royal Bank of Canada cut Equinor ASA from a “sector perform” rating to an “underperform” rating in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.71.

Equinor ASA Stock Down 0.4%

EQNR stock opened at $23.53 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.36 and a debt-to-equity ratio of 0.51. The firm has a 50 day simple moving average of $23.81 and a 200-day simple moving average of $23.76. The company has a market capitalization of $65.70 billion, a P/E ratio of 7.56, a PEG ratio of 0.58 and a beta of 0.58. Equinor ASA has a twelve month low of $21.41 and a twelve month high of $29.32.

Equinor ASA (NYSE:EQNR) last released its earnings results on Wednesday, April 30th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.17). Equinor ASA had a return on equity of 20.33% and a net margin of 8.49%. The company had revenue of $27.14 billion during the quarter, compared to the consensus estimate of $27.16 billion. On average, equities research analysts predict that Equinor ASA will post 3.46 earnings per share for the current fiscal year.

Equinor ASA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.304 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 5.17%. Equinor ASA’s dividend payout ratio (DPR) is presently 38.29%.

Institutional Trading of Equinor ASA

Several hedge funds have recently added to or reduced their stakes in EQNR. Sound Income Strategies LLC raised its stake in shares of Equinor ASA by 725.4% during the first quarter. Sound Income Strategies LLC now owns 974 shares of the company’s stock valued at $26,000 after purchasing an additional 856 shares in the last quarter. Manchester Capital Management LLC bought a new position in shares of Equinor ASA in the fourth quarter valued at approximately $33,000. GeoWealth Management LLC raised its holdings in Equinor ASA by 254.5% during the fourth quarter. GeoWealth Management LLC now owns 1,372 shares of the company’s stock worth $33,000 after purchasing an additional 985 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in Equinor ASA in the fourth quarter worth approximately $36,000. Finally, R Squared Ltd acquired a new position in shares of Equinor ASA during the 4th quarter valued at $48,000. 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.