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

Equinor ASA (NYSE:EQNR)’s share price gapped down before the market opened on Monday. The stock had previously closed at $48.75, but opened at $46.31. Equinor ASA shares last traded at $46.1610, with a volume of 1,402,595 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on EQNR shares. Zacks Research upgraded shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Friday, September 25th. Morningstar cut shares of Equinor ASA to a “sell” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada raised shares of Equinor ASA from an “underperform” rating to a “sector perform” rating in a research report on Thursday, July 23rd. Berenberg Bank restated a “hold” rating on shares of Equinor ASA in a research note on Friday, July 24th. Finally, TD Cowen upped their target price on shares of Equinor ASA from $38.00 to $41.00 and gave the company a “hold” rating in a report on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $43.47.

Equinor ASA Price Performance

The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average price of $44.03 and a 200 day moving average price of $37.43. The company has a market capitalization of $109.46 billion, a P/E ratio of 9.52, a P/E/G ratio of 1.38 and a beta of 0.12.

Equinor ASA (NYSE:EQNR) last posted its earnings results on Wednesday, October 28th. The company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.18). Equinor ASA had a return on equity of 27.45% and a net margin of 9.71%. The business had revenue of $32.96 billion for the quarter, compared to analyst estimates of $33.30 billion. On average, equities analysts predict that Equinor ASA will post 5.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Equinor ASA

Several institutional investors and hedge funds have recently modified their holdings of the stock. Park Avenue Securities LLC lifted its stake in shares of Equinor ASA by 2.7% during the 3rd quarter. Park Avenue Securities LLC now owns 9,341 shares of the company’s stock worth $389,000 after buying an additional 249 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in shares of Equinor ASA by 0.9% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 28,296 shares of the company’s stock worth $1,177,000 after buying an additional 266 shares during the period. Financial Network Wealth Advisors LLC grew its stake in Equinor ASA by 93.1% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 840 shares of the company’s stock valued at $35,000 after buying an additional 405 shares during the last quarter. Inspire Investing LLC grew its stake in Equinor ASA by 4.5% in the 1st quarter. Inspire Investing LLC now owns 11,657 shares of the company’s stock valued at $492,000 after buying an additional 503 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Equinor ASA by 2.0% in the 3rd quarter. Signaturefd LLC now owns 27,153 shares of the company’s stock valued at $1,130,000 after acquiring an additional 542 shares during the period. 5.51% of the stock is currently owned by institutional investors and hedge funds.

Equinor ASA Company Profile

Equinor ASA is a Norwegian energy company headquartered in Stavanger, Norway. Founded in 1972 as Den norske stats oljeselskap, the company was later known as Statoil and StatoilHydro before adopting the Equinor name in 2018. The Norwegian state remains its largest shareholder.

Equinor’s core business is the exploration, development, production and marketing of oil and natural gas, with Norway’s continental shelf serving as its principal operating area. The company also processes and markets energy products and supplies natural gas and crude oil to customers in Europe and other international markets.

In addition to its oil and gas operations, Equinor is developing lower-carbon energy businesses, including offshore wind, solar power, carbon capture and storage, and other renewable energy projects.