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.
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.
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