Equinor ASA (NYSE:EQNR) Sees Large Volume Increase – Here’s Why

Shares of Equinor ASA (NYSE:EQNR) saw an uptick in trading volume on Thursday . 6,872,117 shares traded hands during mid-day trading, an increase of 81% from the previous session’s volume of 3,794,214 shares.The stock last traded at $23.04 and had previously closed at $23.45.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised Equinor ASA from an “underweight” rating to an “overweight” rating in a research note on Monday, December 9th. Nordea Equity Research raised Equinor ASA from a “hold” rating to a “buy” rating in a report on Thursday. DZ Bank raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley raised shares of Equinor ASA from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $25.80 to $30.90 in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Equinor ASA in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.45.

Equinor ASA Price Performance

The company has a 50 day moving average of $23.93 and a 200 day moving average of $24.83. The firm has a market cap of $65.84 billion, a price-to-earnings ratio of 7.58, a P/E/G ratio of 1.27 and a beta of 0.83. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.19). Equinor ASA had a net margin of 8.49% and a return on equity of 20.33%. Equities research analysts predict that Equinor ASA will post 3.38 EPS for the current fiscal year.

Equinor ASA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date of this dividend is Friday, February 14th. Equinor ASA’s dividend payout ratio (DPR) is presently 37.62%.

Institutional Trading of Equinor ASA

Institutional investors have recently modified their holdings of the company. Reston Wealth Management LLC acquired a new stake in Equinor ASA in the 3rd quarter valued at approximately $31,000. Manchester Capital Management LLC acquired a new stake in shares of Equinor ASA in the fourth quarter valued at approximately $33,000. Synergy Asset Management LLC bought a new stake in shares of Equinor ASA in the fourth quarter worth $36,000. R Squared Ltd acquired a new position in Equinor ASA during the fourth quarter worth $48,000. Finally, Bruce G. Allen Investments LLC grew its position in Equinor ASA by 363.5% in the third quarter. Bruce G. Allen Investments LLC now owns 1,928 shares of the company’s stock valued at $49,000 after purchasing an additional 1,512 shares in the last quarter. 5.51% of the stock is currently owned by 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.