Equinor ASA (NYSE:EQNR) Issues Quarterly Earnings Results

Equinor ASA (NYSE:EQNR) issued its earnings results on Thursday. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.05, Zacks reports. Equinor ASA had a return on equity of 20.65% and a net margin of 9.11%. The firm had revenue of $25.45 billion for the quarter, compared to analyst estimates of $24.45 billion. During the same period last year, the company earned $0.92 earnings per share.

Equinor ASA Price Performance

EQNR stock traded up $0.54 during trading hours on Friday, hitting $25.63. 1,486,930 shares of the stock traded hands, compared to its average volume of 3,242,032. The stock has a 50-day simple moving average of $25.66 and a 200 day simple moving average of $26.92. Equinor ASA has a one year low of $23.95 and a one year high of $34.21. The company has a market cap of $75.47 billion, a P/E ratio of 7.77, a P/E/G ratio of 2.28 and a beta of 0.83. The company has a current ratio of 1.53, a quick ratio of 1.43 and a debt-to-equity ratio of 0.53.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays raised Equinor ASA to a “hold” rating in a research report on Wednesday, October 2nd. Citigroup raised Equinor ASA to a “strong sell” rating in a report on Wednesday, October 2nd. TD Cowen lowered their price target on Equinor ASA from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, July 10th. Morgan Stanley raised Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price target on the stock in a report on Monday, October 14th. Finally, StockNews.com lowered Equinor ASA from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.90.

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.