BofA Securities lifts Equinor ASA [EQNR] price estimate. Who else is bullish?


Equinor ASA [NYSE: EQNR] gained 2.54% or 0.86 points to close at $34.70 with a heavy trading volume of 3959325 shares. The company report on May 2, 2022 that Great Lakes Dredge & Dock Corporation Awarded Large-Scale U.S. Offshore Wind Rock Installation Project.

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First offshore wind rock installation contract awarded to a U.S. company.

It opened the trading session at $34.24, the shares rose to $35.01 and dropped to $34.19, the range by which the price of stock traded the whole day. The daily chart for EQNR points out that the company has recorded 32.24% gains over the past six months. However, it is still -88.18% lower than its most recent low trading price.

If we look at the average trading volume of 4.43M shares, EQNR reached to a volume of 3959325 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $42.11 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.

BofA Securities have made an estimate for Equinor ASA shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 08, 2022. The new note on the price target was released on February 17, 2022, representing the official price target for Equinor ASA stock.

The Average True Range (ATR) for Equinor ASA is set at 1.31, with the Price to Sales ratio for EQNR stock in the period of the last 12 months amounting to 1.28. The Price to Book ratio for the last quarter was 3.04, with the Price to Cash per share for the same quarter was set at 8.79. Price to Free Cash Flow for EQNR in the course of the last twelve months was 13.97 with Quick ratio for the last quarter at 1.60.

Trading performance analysis for EQNR stock

Equinor ASA [EQNR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.12. With this latest performance, EQNR shares dropped by -7.86% in over the last four-week period, additionally plugging by 32.24% over the last 6 months – not to mention a rise of 70.01% 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 44.17, with the RSI for the last a single of trading hit 40.89, and the three-weeks RSI is set at 47.43 for Equinor ASA [EQNR]. The present Moving Average for the last 50 days of trading for this stock 35.25, while it was recorded at 34.58 for the last single week of trading, and 27.77 for the last 200 days.

Equinor ASA [EQNR]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Equinor ASA [EQNR] shares currently have an operating margin of +35.90 and a Gross Margin at +36.79. Equinor ASA’s Net Margin is presently recorded at +9.75.

Return on Total Capital for EQNR is now 42.34, given the latest momentum, and Return on Invested Capital for the company is 12.54. Return on Equity for this stock inclined to 23.22, with Return on Assets sitting at 6.29. When it comes to the capital structure of this company, Equinor ASA [EQNR] has a Total Debt to Total Equity ratio set at 92.90. Additionally, EQNR Total Debt to Total Capital is recorded at 48.16, with Total Debt to Total Assets ending up at 24.63. Long-Term Debt to Equity for the company is recorded at 76.53, with the Long-Term Debt to Total Capital now at 39.67.

Reflecting on the efficiency of the workforce at the company, Equinor ASA [EQNR] managed to generate an average of $3,484,828 per employee. Receivables Turnover for the company is 6.61 with a Total Asset Turnover recorded at a value of 0.64.Equinor ASA’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.70.

Equinor ASA [EQNR]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Equinor ASA [EQNR]

There are presently around $6,235 million, or 5.70% of EQNR stock, in the hands of institutional investors. The top three institutional holders of EQNR stocks are: FOLKETRYGDFONDET with ownership of 121,321,782, which is approximately 1.677% of the company’s market cap and around 67.30% of the total institutional ownership; BANK OF AMERICA CORP /DE/, holding 7,486,055 shares of the stock with an approximate value of $253.33 million in EQNR stocks shares; and ARROWSTREET CAPITAL, LIMITED PARTNERSHIP, currently with $241.39 million in EQNR stock with ownership of nearly 351.212% of the company’s market capitalization.

Positions in Equinor ASA stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 174 institutional holders increased their position in Equinor ASA [NYSE:EQNR] by around 14,901,880 shares. Additionally, 121 investors decreased positions by around 6,019,192 shares, while 34 investors held positions by with 163,323,000 shares. The mentioned changes placed institutional holdings at 184,244,072 shares, according to the latest SEC report filing. EQNR stock had 74 new institutional investments in for a total of 2,503,246 shares, while 30 institutional investors sold positions of 2,103,606 shares during the same period.