Equinor ASA (NYSE:EQNR) sees a significant increase in short-term interest

Equinor ASA (NYSE:EQNR – Get Rating) was the target of significant short interest growth during the month of May. As of May 31, there were short interests totaling 11,030,000 shares, a growth of 55.6% from the total of 7,090,000 shares as of May 15. Approximately 0.3% of the company’s shares are sold short. Based on an average daily volume of 3,840,000 shares, the short interest rate is currently 2.9 days.

EQNR traded down $0.98 on Wednesday, hitting $35.81. 194,784 shares of the company have been traded, compared to its average volume of 4,093,086. The company has a current ratio of 1.51, a quick ratio of 1.44 and a debt ratio of 0.06. Equinor ASA has a one-year low of $18.44 and a one-year high of $39.15. The company’s 50-day simple moving average is $36.06 and its 200-day simple moving average is $32.14. The company has a market capitalization of $116.25 billion, a price/earnings ratio of 10.04, a P/E/G ratio of 0.13 and a beta of 1.00.

Equinor ASA (NYSE:EQNR – Get Rating) last released its quarterly earnings data on Wednesday, May 4. The company reported earnings per share (EPS) of $1.60 for the quarter, beating analyst consensus estimates of $1.57 by $0.03. Equinor ASA had a return on equity of 35.64% and a net margin of 10.44%. The company had revenue of $36.05 billion for the quarter. As a group, equity analysts expect Equinor ASA to post EPS of 5.56 for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 27. Shareholders of record on Friday, May 13 received a dividend of $0.20. This is an increase from Equinor ASA’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, May 12. This represents a dividend of $0.80 on an annualized basis and a yield of 2.23%. Equinor ASA’s payout ratio is currently 16.43%.

A number of research analysts have weighed in on EQNR shares recently. UBS Group raised its price target on Equinor ASA from 315.00 to 330.00 and gave the company a “neutral” rating in a research report on Thursday May 5. Societe Generale upgraded Equinor ASA from a “buy” rating to a “hold” rating in a Friday, May 20 research report. StockNews.com upgraded Equinor ASA from a “strong buy” rating to a “buy” rating in a Saturday, May 7 research report. Jefferies Financial Group upgraded Equinor ASA from a “buy” rating to a “hold” rating in a Friday, May 13 research report. They noted that the move was a review call. Finally, Credit Suisse Group began covering Equinor ASA in a research report on Thursday, June 9. They set a “neutral” rating on the stock. Five research analysts have assigned the stock a sell rating, eleven have issued a hold rating and six have assigned the stock a buy rating. According to data from MarketBeat, Equinor ASA currently has an average rating of “Hold” and a consensus price target of $181.94.

Major investors have recently increased or reduced their stakes in the company. The State of Kentucky’s Teachers Retirement System increased its stake in Equinor ASA by 3.7% during the first quarter. The Kentucky State Teachers’ Retirement System now owns 1,234,300 shares of the company valued at $46,298,000 after purchasing an additional 44,000 shares during the period. EP Wealth Advisors LLC bought a new position in Equinor ASA during the first quarter worth $242,000. Advisors Asset Management Inc. increased its position in Equinor ASA by 58.3% during the first quarter. Advisors Asset Management Inc. now owns 50,194 shares of the company valued at $1,883,000 after acquiring an additional 18,494 shares in the last quarter. Quantbot Technologies LP increased its position in Equinor ASA by 3,949.7% during the first quarter. Quantbot Technologies LP now owns 51,755 shares of the company valued at $1,941,000 after acquiring an additional 50,477 shares in the last quarter. Finally, the Royal Bank of Canada increased its position in Equinor ASA by 78.5% during the first quarter. Royal Bank of Canada now owns 1,147,514 shares of the company valued at $43,045,000 after acquiring an additional 504,804 shares in the last quarter. 5.66% of the shares are currently held by institutional investors and hedge funds.

About Equinor ASA (Get a rating)

Equinor ASA, an energy company, is engaged in the exploration, production, transportation, refining and marketing of petroleum and petroleum-derived products, as well as other forms of energy in Norway and abroad . It operates through Exploration & Production Norway; International Exploration-Production; Exploration & Production United States; Marketing, intermediary and processing; Renewable energies; and Other Segments.

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