Short Interest in Equinor ASA (NYSE:EQNR) Drops By 11.3%

Equinor ASA (NYSE:EQNRGet Free Report) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 11,200,000 shares, a drop of 11.3% from the February 29th total of 12,620,000 shares. Based on an average daily volume of 3,430,000 shares, the short-interest ratio is presently 3.3 days. Currently, 0.4% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley upgraded Equinor ASA from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $26.40 to $28.50 in a research report on Tuesday, February 20th. raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. DZ Bank downgraded Equinor ASA from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. TD Cowen began coverage on Equinor ASA in a research report on Wednesday, January 10th. They set a “market perform” rating and a $28.00 price target on the stock. Finally, Royal Bank of Canada downgraded Equinor ASA from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, December 19th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.25.

Read Our Latest Analysis on Equinor ASA

Equinor ASA Stock Performance

EQNR traded up $0.43 during trading hours on Tuesday, hitting $27.67. The company’s stock had a trading volume of 4,602,400 shares, compared to its average volume of 3,617,954. The company has a current ratio of 1.71, a quick ratio of 1.60 and a debt-to-equity ratio of 0.51. Equinor ASA has a fifty-two week low of $24.44 and a fifty-two week high of $34.73. The company has a 50-day simple moving average of $26.58 and a 200 day simple moving average of $30.11. The firm has a market capitalization of $86.38 billion, a PE ratio of 6.97 and a beta of 0.85.

Equinor ASA (NYSE:EQNRGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.44). Equinor ASA had a return on equity of 20.32% and a net margin of 11.09%. The company had revenue of $29.05 billion during the quarter, compared to analyst estimates of $27.35 billion. As a group, sell-side analysts expect that Equinor ASA will post 3.26 EPS for the current year.

Equinor ASA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Thursday, May 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Wednesday, May 15th. Equinor ASA’s dividend payout ratio (DPR) is presently 25.06%.

Hedge Funds Weigh In On Equinor ASA

Large investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership increased its position in shares of Equinor ASA by 42.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 10,186,246 shares of the company’s stock worth $382,086,000 after acquiring an additional 3,052,907 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Equinor ASA during the 1st quarter valued at $55,819,000. Goldman Sachs Group Inc. lifted its holdings in shares of Equinor ASA by 47.6% in the second quarter. Goldman Sachs Group Inc. now owns 3,752,274 shares of the company’s stock valued at $130,429,000 after purchasing an additional 1,210,930 shares in the last quarter. Folketrygdfondet boosted its position in Equinor ASA by 0.9% during the 4th quarter. Folketrygdfondet now owns 107,959,982 shares of the company’s stock worth $3,415,854,000 after acquiring an additional 917,330 shares during the period. Finally, Cambiar Investors LLC purchased a new position in Equinor ASA during the third quarter valued at approximately $21,931,000. Institutional investors own 5.51% of the company’s stock.

About Equinor ASA

(Get Free Report)

Equinor ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and other forms of energy in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; Renewables; and Other segments.

Further Reading

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