Based on the recent data and market analysis, here is a concise assessment of EQNR stock:
Technical Analysis
The stock is currently showing bearish momentum with RSI at 45.78, indicating neutral but slightly bearish sentiment. The MACD at -0.15 suggests downward pressure on the price. The stock is trading around its 20-day SMA of $24.33 and 60-day SMA of $23.84, indicating a consolidation phase.
Recent Developments
According to recent reports, Equinor announced Q4 FY24 results with revenue declining 5% YoY to $27.65 billion. The company launched a $5 billion share buyback program for 2025 and declared a combined dividend of $0.72 per share ($0.37 ordinary + $0.35 extraordinary).
Analyst Consensus
Multiple analysts have recently upgraded EQNR to Buy, including DZ Bank, Nordea, and Danske Bank. However, some firms like RBC Capital and Kepler Capital maintain Hold ratings with a price target of NOK300.
Valuation
The stock currently trades at attractive multiples:
- P/E: 7.61x
- EV/EBITDA: 1.88x
- P/B: 1.65x
- Dividend Yield: 11.99%
Conclusion
Based on the attractive valuation metrics, strong dividend yield, and recent analyst upgrades, EQNR appears to be a hold with potential upside from current levels. The company's strong buyback program and dividend policy provide good shareholder returns.