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.
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).
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.
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.