Equinor ASA (NYSE:EQNR) Sees Significant Decrease in Short Interest

Equinor ASA (NYSE:EQNR) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 13,610,000 shares, a decrease of 6.9% from the January 15th total of 14,620,000 shares. Based on an average daily volume of 3,780,000 shares, the days-to-cover ratio is presently 3.6 days. Currently, 0.5% of the company’s shares are sold short.

Equinor ASA Stock Up 0.3 %

EQNR traded up $0.07 during trading on Tuesday, reaching $23.16. The stock had a trading volume of 6,699,125 shares, compared to its average volume of 4,528,059. The stock’s 50 day moving average is $23.90 and its two-hundred day moving average is $24.71. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $64.67 billion, a price-to-earnings ratio of 7.45, a P/E/G ratio of 1.27 and a beta of 0.83. Equinor ASA has a one year low of $21.85 and a one year high of $29.32.

Equinor ASA (NYSE:EQNR) last released its earnings results on Wednesday, February 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.19). Equinor ASA had a return on equity of 20.33% and a net margin of 8.49%. As a group, analysts expect that Equinor ASA will post 3.38 earnings per share for the current year.

Equinor ASA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.05%. Equinor ASA’s dividend payout ratio is currently 37.62%.

Institutional Investors Weigh In On Equinor ASA

A number of institutional investors have recently modified their holdings of EQNR. Reston Wealth Management LLC purchased a new stake in shares of Equinor ASA in the third quarter worth $31,000. Manchester Capital Management LLC purchased a new position in Equinor ASA in the 4th quarter worth about $33,000. GeoWealth Management LLC lifted its stake in Equinor ASA by 254.5% during the 4th quarter. GeoWealth Management LLC now owns 1,372 shares of the company’s stock valued at $33,000 after acquiring an additional 985 shares during the period. Synergy Asset Management LLC bought a new position in Equinor ASA during the 4th quarter valued at about $36,000. Finally, R Squared Ltd bought a new position in Equinor ASA during the 4th quarter valued at about $48,000. 5.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EQNR. Redburn Atlantic raised Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 20th. Royal Bank of Canada reissued a “sector perform” rating on shares of Equinor ASA in a research note on Thursday, February 6th. HSBC raised Equinor ASA from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Berenberg Bank upgraded Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 27th. Finally, Morgan Stanley upgraded Equinor ASA from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $25.80 to $30.90 in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.45.

Equinor ASA Company Profile

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.