Equinor ASA (NYSE:EQNR) Short Interest Up 23.2% in September

Equinor ASA (NYSE:EQNR) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 5,790,000 shares, an increase of 23.2% from the August 30th total of 4,700,000 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 2,040,000 shares, the short-interest ratio is currently 2.8 days.

A number of institutional investors have recently modified their holdings of EQNR. Morgan Stanley boosted its stake in Equinor ASA by 198.9% during the 2nd quarter. Morgan Stanley now owns 1,502,684 shares of the company’s stock valued at $29,723,000 after purchasing an additional 999,931 shares during the last quarter. Citadel Advisors LLC boosted its stake in Equinor ASA by 281.0% during the 2nd quarter. Citadel Advisors LLC now owns 1,259,542 shares of the company’s stock valued at $24,914,000 after purchasing an additional 928,961 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Equinor ASA during the 2nd quarter valued at about $17,700,000. Clark Capital Management Group Inc. acquired a new position in Equinor ASA during the 2nd quarter valued at about $16,793,000. Finally, FMR LLC boosted its stake in Equinor ASA by 5.1% during the 1st quarter. FMR LLC now owns 16,656,952 shares of the company’s stock valued at $365,952,000 after purchasing an additional 808,617 shares during the last quarter. 5.73% of the stock is owned by institutional investors and hedge funds.

Equinor ASA stock traded up $0.29 during midday trading on Friday, reaching $18.77. The stock had a trading volume of 1,720,011 shares, compared to its average volume of 2,018,669. Equinor ASA has a 12 month low of $16.24 and a 12 month high of $27.45. The company has a market capitalization of $59.86 billion, a P/E ratio of 9.29 and a beta of 0.94. The company has a fifty day moving average price of $18.44 and a two-hundred day moving average price of $19.76. The company has a current ratio of 1.43, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58.

Equinor ASA (NYSE:EQNR) last issued its earnings results on Thursday, July 25th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.07). Equinor ASA had a net margin of 10.94% and a return on equity of 14.13%. The firm had revenue of $17.10 billion during the quarter. On average, equities research analysts predict that Equinor ASA will post 1.57 earnings per share for the current fiscal year.

EQNR has been the subject of several research analyst reports. JPMorgan Chase & Co. raised Equinor ASA from an “underweight” rating to a “neutral” rating in a research report on Monday, September 16th. Danske lowered Equinor ASA from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Credit Suisse Group raised Equinor ASA from an “underperform” rating to an “outperform” rating in a research report on Wednesday, September 4th. Santander raised Equinor ASA from an “underperform” rating to a “hold” rating in a research report on Monday, June 17th. Finally, ValuEngine raised Equinor ASA from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.77.

Equinor ASA Company Profile

Equinor ASA, an energy company, explores for, produces, transports, refines, and markets petroleum and petroleum-derived products, and other forms of energy in Norway and internationally. The company operates through Development & Production Norway; Development & Production Brazil; Development & Production International; Marketing, Midstream & Processing; New Energy Solutions; Technology, Projects & Drilling; Exploration; and Global Strategy & Business Development segments.

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