Short Interest in Equinor ASA (NYSE:EQNR) Declines By 12.6%

Equinor ASA (NYSE:EQNR) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 10,100,000 shares, a decrease of 12.6% from the September 30th total of 11,550,000 shares. Based on an average trading volume of 3,180,000 shares, the days-to-cover ratio is presently 3.2 days. Currently, 0.4% of the shares of the company are sold short.

Equinor ASA Price Performance

Shares of NYSE EQNR traded up $0.09 during midday trading on Tuesday, reaching $24.77. 3,342,336 shares of the company traded hands, compared to its average volume of 3,262,084. The firm has a market cap of $69.16 billion, a PE ratio of 7.66, a PEG ratio of 2.36 and a beta of 0.83. The stock’s 50-day simple moving average is $25.50 and its 200-day simple moving average is $26.85. Equinor ASA has a 12 month low of $23.95 and a 12 month high of $34.21. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.38 and a current ratio of 1.48.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. Equinor ASA had a return on equity of 19.97% and a net margin of 8.95%. The company had revenue of $25.45 billion during the quarter, compared to analysts’ expectations of $24.45 billion. During the same period last year, the business earned $0.92 earnings per share. As a group, equities analysts anticipate that Equinor ASA will post 3.32 earnings per share for the current fiscal year.

Institutional Trading of Equinor ASA

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Atwood & Palmer Inc. acquired a new stake in Equinor ASA in the second quarter worth about $25,000. Reston Wealth Management LLC acquired a new stake in Equinor ASA in the third quarter worth about $31,000. Rothschild Investment LLC acquired a new stake in Equinor ASA in the second quarter worth about $32,000. EverSource Wealth Advisors LLC increased its position in Equinor ASA by 27.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,712 shares of the company’s stock worth $45,000 after purchasing an additional 365 shares during the period. Finally, Bruce G. Allen Investments LLC increased its position in Equinor ASA by 363.5% in the third quarter. Bruce G. Allen Investments LLC now owns 1,928 shares of the company’s stock worth $49,000 after purchasing an additional 1,512 shares during the period. 5.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on EQNR shares. Citigroup raised Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. TD Cowen reduced their target price on Equinor ASA from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, July 10th. Barclays raised Equinor ASA to a “hold” rating in a research report on Wednesday, October 2nd. UBS Group raised Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, StockNews.com cut Equinor ASA from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.90.

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.