Short Interest in Equinor ASA (NYSE:EQNR) Drops By 7.5%

Equinor ASA (NYSE:EQNR) was the recipient of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 14,370,000 shares, a decline of 7.5% from the November 15th total of 15,530,000 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 3,880,000 shares, the short-interest ratio is currently 3.7 days.

Institutional Investors Weigh In On Equinor ASA

A number of hedge funds and other institutional investors have recently bought and sold shares of EQNR. Rothschild Investment LLC purchased a new position in shares of Equinor ASA in the second quarter valued at $32,000. Reston Wealth Management LLC acquired a new stake in Equinor ASA in the 3rd quarter worth about $31,000. EverSource Wealth Advisors LLC boosted its stake in Equinor ASA by 27.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock worth $45,000 after buying an additional 365 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Equinor ASA in the 2nd quarter worth about $51,000. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of Equinor ASA by 363.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,928 shares of the company’s stock valued at $49,000 after purchasing an additional 1,512 shares in the last quarter. Institutional investors and hedge funds own 5.51% of the company’s stock.

Analyst Ratings Changes

EQNR has been the topic of several research analyst reports. Barclays upgraded shares of Equinor ASA from an “equal weight” rating to an “overweight” rating in a report on Monday, November 25th. Redburn Atlantic upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a report on Wednesday, November 20th. Citigroup raised Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. Berenberg Bank raised Equinor ASA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Finally, Morgan Stanley upgraded shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 target price on the stock in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Equinor ASA currently has a consensus rating of “Hold” and a consensus target price of $26.90.

Equinor ASA Stock Performance

Shares of EQNR stock traded down $0.84 during trading hours on Monday, hitting $22.35. The stock had a trading volume of 2,760,179 shares, compared to its average volume of 3,375,485. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.38. The stock’s 50 day moving average is $24.13 and its 200 day moving average is $25.86. Equinor ASA has a twelve month low of $22.15 and a twelve month high of $32.66. The firm has a market capitalization of $62.42 billion, a PE ratio of 6.87, a PEG ratio of 1.20 and a beta of 0.84.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.05. Equinor ASA had a return on equity of 19.97% and a net margin of 8.95%. The firm had revenue of $25.45 billion during the quarter, compared to the consensus estimate of $24.45 billion. During the same period last year, the company earned $0.92 earnings per share. As a group, research analysts forecast that Equinor ASA will post 3.35 earnings per share for the current fiscal year.

About Equinor ASA

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.