Equinor ASA ADR [EQNR] stock Upgrade by Morgan Stanley analyst, price target now $28.50

Equinor ASA ADR [NYSE: EQNR] gained 2.69% or 0.67 points to close at $25.61 with a heavy trading volume of 4825171 shares. The company report on February 21, 2024 at 3:41 AM that Equinor ASA: Buy-back of shares to share programmes for employees.

Please see below information about transactions made under the buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR) for shares to be used in the share-based incentive programmes for employees and management.

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Date on which the buy-back programme was announced: 7 February 2024.

The daily chart for EQNR points out that the company has recorded -13.25% loss over the past six months.

If we look at the average trading volume of 3.17M shares, EQNR reached to a volume of 4825171 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 ADR [EQNR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EQNR shares is $31.50 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 2.00. 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.

Morgan Stanley have made an estimate for Equinor ASA ADR shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on February 20, 2024. The new note on the price target was released on February 08, 2024, representing the official price target for Equinor ASA ADR stock. Previously, the target price had yet another raise to $28, while TD Cowen analysts kept a Market Perform rating on EQNR stock.

The Average True Range (ATR) for Equinor ASA ADR is set at 0.67, with the Price to Sales ratio for EQNR stock in the period of the last 12 months amounting to 0.71. The Price to Book ratio for the last quarter was 1.55, with the Price to Cash per share for the same quarter was set at 13.11. Price to Free Cash Flow for EQNR in the course of the last twelve months was 5.37 with Quick ratio for the last quarter at 1.60.

Trading performance analysis for EQNR stock

Equinor ASA ADR [EQNR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.40. With this latest performance, EQNR shares dropped by -6.54% in over the last four-week period, additionally sinking by -13.25% over the last 6 months – not to mention a drop of -9.34% 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 38.61, with the RSI for the last a single of trading hit 37.74, and the three-weeks RSI is set at 36.25 for Equinor ASA ADR [EQNR]. The present Moving Average for the last 50 days of trading for this stock 29.34, while it was recorded at 25.19 for the last single week of trading, and 30.47 for the last 200 days.

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

Equinor ASA ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.71.

Equinor ASA ADR [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 ADR go to 5.80%.

An analysis of Institutional ownership at 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%.