Equinor ASA ADR [EQNR] Stock trading around $28.67 per share: What’s Next?

Equinor ASA ADR [NYSE: EQNR] slipped around -0.79 points on Wednesday, while shares priced at $28.67 at the close of the session, down -2.68%. The company report on January 25, 2024 at 3:00 PM that Equinor to take full ownership in Empire Wind through a swap transaction with bp in the US.

Equinor (OSE: EQNR, NYSE: EQNR) has entered into a swap transaction with bp, under which Equinor will take full ownership of the Empire Wind lease and projects and bp will take full ownership of the Beacon Wind lease and projects.

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Under the agreement, Equinor will take 100% ownership of Empire Offshore Wind Holdings LLC. Subject to certain conditions, Equinor will also take over bp’s 50% share of the South Brooklyn Marine Terminal (SBMT) lease. Bp will take over Beacon Wind Holdings LLC and the associated project company that holds the Astoria Gateway for Renewable Energy site and will become the operator of the Beacon Wind projects. The transaction will be cash neutral, except for standard settlements of cash and working capital items.

Compared to the average trading volume of 2.50M shares, EQNR reached a trading volume of 4862993 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 ADR [EQNR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EQNR shares is $35.17 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 2.17. 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.

TD Cowen have made an estimate for Equinor ASA ADR shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on January 10, 2024.

The Average True Range (ATR) for Equinor ASA ADR is set at 0.61, with the Price to Sales ratio for EQNR stock in the period of the last 12 months amounting to 0.76. The Price to Book ratio for the last quarter was 1.74, with the Price to Cash per share for the same quarter was set at 13.57. Price to Free Cash Flow for EQNR in the course of the last twelve months was 5.35 with Quick ratio for the last quarter at 1.66.

How has EQNR stock performed recently?

Equinor ASA ADR [EQNR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.56. With this latest performance, EQNR shares dropped by -9.39% in over the last four-week period, additionally sinking by -2.34% over the last 6 months – not to mention a rise of 1.07% 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 39.20, with the RSI for the last a single of trading hit 39.20, and the three-weeks RSI is set at 40.03 for Equinor ASA ADR [EQNR]. The present Moving Average for the last 50 days of trading for this stock 30.79, while it was recorded at 29.04 for the last single week of trading, and 30.59 for the last 200 days.

Equinor ASA ADR [EQNR]: Deeper insight into the fundamentals

Equinor ASA ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.66 and a Current Ratio set at 1.80.

Earnings analysis for Equinor ASA ADR [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 ADR go to 5.80%.

Insider trade positions for Equinor ASA ADR [EQNR]

The top three institutional holders of EQNR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in EQNR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in EQNR stock with ownership which is approximately 5.8325%.