Equinor ASA (NYSE:EQNR) Short Interest Down 11.6% in August

Equinor ASA (NYSE:EQNR) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 2,493,700 shares, a drop of 11.6% from the July 31st total of 2,819,800 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 1,990,000 shares, the short-interest ratio is currently 1.3 days.

A number of institutional investors have recently modified their holdings of EQNR. Lazard Asset Management LLC boosted its position in Equinor ASA by 332.6% in the first quarter. Lazard Asset Management LLC now owns 2,725,421 shares of the company’s stock valued at $59,877,000 after buying an additional 2,095,354 shares in the last quarter. Morgan Stanley boosted its position in Equinor ASA by 198.9% in the second quarter. Morgan Stanley now owns 1,502,684 shares of the company’s stock valued at $29,723,000 after buying an additional 999,931 shares in the last quarter. Citadel Advisors LLC boosted its position in Equinor ASA by 281.0% in the second quarter. Citadel Advisors LLC now owns 1,259,542 shares of the company’s stock valued at $24,914,000 after buying an additional 928,961 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Equinor ASA during the second quarter worth $17,700,000. Finally, Clark Capital Management Group Inc. acquired a new position in shares of Equinor ASA during the second quarter worth $16,793,000. Hedge funds and other institutional investors own 5.73% of the company’s stock.

Equinor ASA stock traded up $0.26 during mid-day trading on Friday, reaching $19.43. The company had a trading volume of 2,316,077 shares, compared to its average volume of 1,580,277. Equinor ASA has a fifty-two week low of $16.24 and a fifty-two week high of $28.93. The company has a current ratio of 1.43, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The company has a market cap of $63.30 billion, a P/E ratio of 9.62 and a beta of 0.93. The business has a fifty day simple moving average of $17.35 and a 200 day simple moving average of $20.22.

Equinor ASA (NYSE:EQNR) last issued its earnings results on Thursday, July 25th. The company reported $0.34 earnings per share 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 company had revenue of $17.10 billion during the quarter. Research analysts forecast that Equinor ASA will post 1.56 EPS for the current year.

EQNR has been the topic of several analyst reports. Banco Santander upgraded shares of Equinor ASA to a “hold” rating in a research report on Monday, June 17th. Zacks Investment Research upgraded shares of Equinor ASA from a “strong sell” rating to a “hold” rating in a research report on Monday, August 19th. Credit Suisse Group upgraded shares of Equinor ASA from an “underperform” rating to an “outperform” rating in a research report on Wednesday, September 4th. Sanford C. Bernstein upgraded shares of Equinor ASA from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research report on Monday, July 1st. Finally, HSBC upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Equinor ASA presently has a consensus rating of “Hold” and a consensus target price of $24.77.

About Equinor ASA

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.

Featured Article: How to start trading in the forex market?

Receive News & Ratings for Equinor ASA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinor ASA and related companies with MarketBeat.com's FREE daily email newsletter.