Equinor ASA (EQNR) looking to reclaim success with recent performance

Equinor ASA (NYSE: EQNR) stock jumped 5.16% on Tuesday to $35.49 against a previous-day closing price of $33.75. With 2.84 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.73 million shares. During the session, the Oil & Gas Integrated company that operates in wider Energy sector, reached to the highest price of $35.53 whereas the lowest price it dropped to was $34.70. The 52-week range on EQNR shows that it touched its highest point at $41.92 and its lowest point at $23.56 during that stretch. It currently has a 1-year price target of $37.43. With its current market cap of 116.23 billion, EQNR has annualized dividend of $1.68 while the current yield stands at 4.73%. Beta for the stock currently stands at 1.03.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EQNR was down-trending over the past week, with a drop of -1.66%, but this was up by 5.99% over a month. Three-month performance dropped to -14.16% while six-month performance rose 1.70%. The stock gained 46.24% in the past year, while it has gained 38.30% so far this year. A look at the trailing 12-month EPS for EQNR yields 7.58 with Next year EPS estimates of 6.33. For the next quarter, that number is 0.99. This implies an EPS growth rate of 256.20% for this year and -15.27% for next year. EPS is expected to grow by 5.80% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 37.30%.

Float and Shares Shorts:

At present, 3.15 billion EQNR shares are outstanding with a float of 909.93 million shares on hand for trading. On Oct 13, 2022, short shares totaled 6.33 million, which was 0.20% higher than short shares on Sep 14, 2022. In addition to Mr. Anders Opedal as the firm’s Pres & CEO, Ms. Siv Helen Rygh Torstensen serves as its Exec. VP of Legal & Compliance (LEG).

Institutional Ownership:

Through their ownership of 5.39% of EQNR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 1.68% of EQNR, in contrast to 0.31% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in EQNR with 0.30% of the stake, Arrowstreet Capital LP holds 9,953,447 shares worth 9,953,447. A second-largest stockholder of EQNR, Balyasny Asset Management LP, holds 4,425,866 shares, controlling over 0.13% of the firm’s shares. EARNEST Partners LLC is the third largest shareholder in EQNR, holding 3,437,298 shares or 0.10% stake. With a 0.03% stake in EQNR, the VanEck Global Resources Fund is the largest stakeholder. A total of 975,500 shares are owned by the mutual fund manager. The American Century Disciplined Core, which owns about 0.03% of EQNR stock, is the second-largest Mutual Fund holder. It holds 916,397 shares valued at 33.25 million. Metropolitan Series – Van Eck Glo holds 0.03% of the stake in EQNR, owning 883,400 shares worth 32.05 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EQNR since 2 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With EQNR analysts setting a high price target of $42.86 and a low target of $32.00, the average target price over the next 12 months is $37.43. Based on these targets, EQNR could surge 20.77% to reach the target high and fall by -9.83% to reach the target low. Reaching the average price target will result in a growth of 5.47% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. EQNR will report FY 2022 earnings on 02/08/2023. Analysts have provided yearly estimates in a range of $8.29 being high and $6.41 being low. For EQNR, this leads to a yearly average estimate of $7.10. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Equinor ASA surprised analysts by $0.08 when it reported $2.13 EPS against a consensus estimate of $2.06. The surprise factor in the prior quarter was $0.48. Based on analyst estimates, the high estimate for the next quarter is $2.33 and the low estimate is $1.17. The average estimate for the next quarter is thus $1.82.

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