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

Equinor ASA (NYSE:EQNR) saw a significant increase in short interest in the month of 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. Based on an average daily volume of 2,040,000 shares, the short-interest ratio is presently 2.8 days. Currently, 0.2% of the shares of the company are short sold.

A number of institutional investors have recently bought and sold shares of EQNR. Janney Montgomery Scott LLC boosted its holdings in shares of Equinor ASA by 7.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 18,731 shares of the company’s stock valued at $370,000 after purchasing an additional 1,297 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Equinor ASA by 3.4% in the 2nd quarter. Royal Bank of Canada now owns 559,922 shares of the company’s stock valued at $11,075,000 after purchasing an additional 18,256 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Equinor ASA in the 2nd quarter valued at $213,000. JPMorgan Chase & Co. boosted its holdings in shares of Equinor ASA by 30.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 154,383 shares of the company’s stock valued at $3,054,000 after purchasing an additional 35,597 shares in the last quarter. Finally, Princeton Global Asset Management LLC boosted its holdings in shares of Equinor ASA by 1.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 60,655 shares of the company’s stock valued at $1,200,000 after purchasing an additional 901 shares in the last quarter. Hedge funds and other institutional investors own 5.73% of the company’s stock.

A number of brokerages have recently weighed in on EQNR. Sanford C. Bernstein upgraded Equinor ASA from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Monday, July 1st. Danske lowered Equinor ASA from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Santander upgraded Equinor ASA from an “underperform” rating to a “hold” rating in a research note on Monday, June 17th. Zacks Investment Research upgraded Equinor ASA from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. upgraded Equinor ASA from an “underweight” rating to a “neutral” rating in a research note on Monday, September 16th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $22.77.

Equinor ASA stock traded up $0.29 during mid-day trading on Friday, reaching $18.77. 1,720,011 shares of the company were exchanged, compared to its average volume of 2,018,669. The company has a fifty day simple moving average of $18.44 and a 200-day simple moving average of $19.76. Equinor ASA has a 12 month low of $16.24 and a 12 month high of $27.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.43 and a quick ratio of 1.25. The firm has a market cap of $59.86 billion, a PE ratio of 9.29 and a beta of 0.94.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.07). Equinor ASA had a return on equity of 14.13% and a net margin of 10.94%. The company had revenue of $17.10 billion for the quarter. Sell-side analysts anticipate that Equinor ASA will post 1.57 earnings per share for the current year.

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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