Equinor ASA (NYSE:EQNR) Sees Large Growth in Short Interest

Equinor ASA (NYSE:EQNRGet Rating) was the recipient of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 8,720,000 shares, a growth of 36.7% from the April 15th total of 6,380,000 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 4,450,000 shares, the short-interest ratio is currently 2.0 days.

EQNR has been the topic of several recent analyst reports. Royal Bank of Canada cut shares of Equinor ASA from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $320.00 to $330.00 in a research report on Monday, May 9th. SEB Equities upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating and set a $42.02 price objective on the stock in a research report on Friday, April 1st. UBS Group lifted their price objective on shares of Equinor ASA from 315.00 to 330.00 and gave the company a “neutral” rating in a research report on Thursday, May 5th. HSBC upgraded shares of Equinor ASA from a “hold” rating to a “buy” rating in a research report on Thursday, February 17th. Finally, Bank of America raised shares of Equinor ASA from a “neutral” rating to a “buy” rating in a report on Tuesday, March 8th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Equinor ASA has an average rating of “Hold” and a consensus target price of $168.22.

Several hedge funds have recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC bought a new position in Equinor ASA in the fourth quarter worth about $28,000. JFS Wealth Advisors LLC raised its holdings in Equinor ASA by 378.4% in the first quarter. JFS Wealth Advisors LLC now owns 842 shares of the company’s stock worth $32,000 after purchasing an additional 666 shares in the last quarter. Evoke Wealth LLC raised its holdings in Equinor ASA by 2,643.5% in the fourth quarter. Evoke Wealth LLC now owns 1,262 shares of the company’s stock worth $33,000 after purchasing an additional 1,216 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Equinor ASA by 220.9% during the third quarter. BNP Paribas Arbitrage SA now owns 1,306 shares of the company’s stock worth $33,000 after acquiring an additional 899 shares during the last quarter. Finally, Tcwp LLC purchased a new stake in shares of Equinor ASA during the first quarter worth about $36,000. Hedge funds and other institutional investors own 5.66% of the company’s stock.

EQNR stock opened at $33.89 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 1.44. The business has a 50-day moving average price of $35.72 and a 200 day moving average price of $30.62. The company has a market capitalization of $110.02 billion, a P/E ratio of 9.60, a PEG ratio of 0.13 and a beta of 1.01. Equinor ASA has a 1-year low of $18.44 and a 1-year high of $39.15.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Friday, May 13th will be issued a $0.20 dividend. This is an increase from Equinor ASA’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, May 12th. Equinor ASA’s payout ratio is presently 16.43%.

About Equinor ASA (Get Rating)

Equinor ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and petroleum-derived products, 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.

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