Bernstein slashes price target on Equinor ASA [EQNR] – find out why.


Equinor ASA [NYSE: EQNR] traded at a high on 01/13/22, posting a 0.28 gain after which it closed the day’ session at $28.30. The company report on January 12, 2022 that Equinor ASA: Revision to Mariner reserves.

Equinor (OSE: EQNR, NYSE: EQNR) has revised its estimate of the total recoverable reserves in the Mariner field from an earlier assessment of approximately 275 mmbbl to about 180 mmbbl. The revision will result in an impairment in the region of USD 1.8 billion which will be reflected in IFRS net operating income for Equinor’s Exploration and Production International segment in Q4 2021 results, to be reported on 9 February 2022.

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The Mariner field began producing in 2019 and consists of two reservoirs: Heimdal and Maureen. Mariner’s reserves have a wide range of uncertainty given the high subsurface complexity and the early production phase of the field. The reserve revision is linked to an updated seismic interpretation and experience from production of the Maureen reservoir which led to a revised reservoir model. This revised reservoir model is further supported by results from the first well into the Heimdal reservoir, drilled in Q4 2021.

The results of the trading session contributed to over 3781914 shares changing hands. Over the past one week, the price volatility of Equinor ASA stands at 2.29% while the volatility over the past one month is 2.10%.

The market cap for EQNR stock reached $92.38 billion, with 3.25 billion shares outstanding and 1.07 billion shares in the current float. Compared to the average trading volume of 2.89M shares, EQNR reached a trading volume of 3781914 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Equinor ASA [EQNR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EQNR shares is $33.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EQNR stock is a recommendation set at 1.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Bernstein have made an estimate for Equinor ASA shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on January 04, 2022. The new note on the price target was released on September 17, 2021, representing the official price target for Equinor ASA stock.

The Average True Range (ATR) for Equinor ASA is set at 0.66, with the Price to Sales ratio for EQNR stock in the period of the last 12 months amounting to 1.35. The Price to Book ratio for the last quarter was 2.48, with the Price to Cash per share for the same quarter was set at 8.84. Price to Free Cash Flow for EQNR in the course of the last twelve months was 7.02 with Quick ratio for the last quarter at 1.60.

How has EQNR stock performed recently?

Equinor ASA [EQNR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.62. With this latest performance, EQNR shares gained by 10.81% in over the last four-week period, additionally plugging by 44.76% over the last 6 months – not to mention a rise of 43.58% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EQNR stock in for the last two-week period is set at 62.66, with the RSI for the last a single of trading hit 67.06, and the three-weeks RSI is set at 59.96 for Equinor ASA [EQNR]. The present Moving Average for the last 50 days of trading for this stock 26.43, while it was recorded at 27.91 for the last single week of trading, and 23.18 for the last 200 days.

Equinor ASA [EQNR]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Equinor ASA [EQNR] shares currently have an operating margin of +9.67 and a Gross Margin at +11.17. Equinor ASA’s Net Margin is presently recorded at -12.07.

Return on Total Capital for EQNR is now 6.74, given the latest momentum, and Return on Invested Capital for the company is -9.04. Return on Equity for this stock declined to -15.92, with Return on Assets sitting at -4.98. When it comes to the capital structure of this company, Equinor ASA [EQNR] has a Total Debt to Total Equity ratio set at 112.53. Additionally, EQNR Total Debt to Total Capital is recorded at 52.95, with Total Debt to Total Assets ending up at 31.25. Long-Term Debt to Equity for the company is recorded at 95.47, with the Long-Term Debt to Total Capital now at 44.92.

Reflecting on the efficiency of the workforce at the company, Equinor ASA [EQNR] managed to generate an average of -$2,441,438 per employee. Receivables Turnover for the company is 6.02 with a Total Asset Turnover recorded at a value of 0.41.Equinor ASA’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.70.

Earnings analysis for Equinor ASA [EQNR]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EQNR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Equinor ASA go to 5.80%.

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Insider trade positions for Equinor ASA [EQNR]

There are presently around $4,963 million, or 5.50% of EQNR stock, in the hands of institutional investors. The top three institutional holders of EQNR stocks are: FOLKETRYGDFONDET with ownership of 119,321,335, which is approximately 0% of the company’s market cap and around 67.30% of the total institutional ownership; BANK OF AMERICA CORP /DE/, holding 6,929,081 shares of the stock with an approximate value of $196.09 million in EQNR stocks shares; and BLACKROCK INC., currently with $169.14 million in EQNR stock with ownership of nearly -18.64% of the company’s market capitalization.

Positions in Equinor ASA stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 135 institutional holders increased their position in Equinor ASA [NYSE:EQNR] by around 8,445,546 shares. Additionally, 83 investors decreased positions by around 8,342,868 shares, while 52 investors held positions by with 158,576,651 shares. The mentioned changes placed institutional holdings at 175,365,065 shares, according to the latest SEC report filing. EQNR stock had 37 new institutional investments in for a total of 3,120,076 shares, while 23 institutional investors sold positions of 782,395 shares during the same period.