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

Equinor ASA (NYSE:EQNR) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 26,093,992 shares, a drop of 14.0% from the December 31st total of 30,357,850 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 5,919,253 shares, the short-interest ratio is presently 4.4 days. Based on an average daily trading volume, of 5,919,253 shares, the short-interest ratio is presently 4.4 days. Currently, 0.9% of the company’s shares are short sold.

Wall Street Analyst Weigh In

EQNR has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on Equinor ASA in a research report on Thursday, January 8th. They issued a “hold” rating for the company. Zacks Research downgraded Equinor ASA from a “hold” rating to a “strong sell” rating in a research report on Thursday, December 11th. Barclays reaffirmed an “underweight” rating on shares of Equinor ASA in a research report on Friday, October 31st. DZ Bank cut shares of Equinor ASA from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, October 8th. Finally, Sanford C. Bernstein lowered shares of Equinor ASA from an “outperform” rating to a “market perform” rating in a report on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $22.71.

Hedge Funds Weigh In On Equinor ASA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bayforest Capital Ltd purchased a new position in shares of Equinor ASA in the 2nd quarter valued at $407,000. Callan Family Office LLC grew its holdings in shares of Equinor ASA by 180.0% during the second quarter. Callan Family Office LLC now owns 26,195 shares of the company’s stock worth $659,000 after buying an additional 16,840 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Equinor ASA by 113.0% in the 2nd quarter. Fisher Asset Management LLC now owns 1,787,778 shares of the company’s stock valued at $44,945,000 after purchasing an additional 948,609 shares during the last quarter. Cetera Investment Advisers grew its position in Equinor ASA by 30.5% in the 2nd quarter. Cetera Investment Advisers now owns 108,633 shares of the company’s stock valued at $2,731,000 after buying an additional 25,361 shares during the last quarter. Finally, Foster & Motley Inc. boosted its holdings in shares of Equinor ASA by 712.2% in the second quarter. Foster & Motley Inc. now owns 61,871 shares of the company’s stock valued at $1,555,000 after acquiring an additional 54,253 shares in the last quarter. Hedge funds and other institutional investors own 5.51% of the company’s stock.

Equinor ASA Stock Up 1.7%

EQNR traded up $0.45 during trading hours on Tuesday, hitting $26.40. 8,057,647 shares of the company’s stock were exchanged, compared to its average volume of 5,614,943. The firm has a market cap of $77.74 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 3.36 and a beta of 0.37. Equinor ASA has a 12-month low of $21.41 and a 12-month high of $28.26. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $23.85 and a 200 day moving average of $24.26.

Equinor ASA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Tuesday, February 17th. Equinor ASA’s dividend payout ratio (DPR) is presently 57.82%.

About Equinor ASA

Equinor ASA (NYSE: EQNR) is a Norway-based integrated energy company headquartered in Stavanger. Historically established as Statoil in the 1970s to develop Norway’s petroleum resources, the company changed its name to Equinor in 2018 to reflect a strategic shift toward a broader energy portfolio. Equinor’s operations span the full upstream value chain, including exploration, development and production of oil and natural gas, alongside trading and marketing activities that support its global commercial operations.

In recent years Equinor has pursued a transition strategy that combines continued development of conventional oil and gas resources with growing investments in low‑carbon energy.