EQNR
Boost for Norway as North Sea oil giants profits top $11bn
Article Summary
HOLD- Norway's national oil company Equinor ASA ADR (OTC: EQORF) posted record quarterly profits of $11.5bn, up from $6.5 billion last year, driven by rising oil and gas prices driven by the Iran conflict and strong North Sea production.
- Equinor ASA ADR, which is 67% owned by the Norwegian government, delivered higher earnings after Brent crude prices surged above $100 per barrel and global gas prices exceeded $70 per barrel.
- Strong production and strong cash flow supported the company's ability to maintain reliable energy supply in a volatile world.
- However, environmental groups remain concerned about its involvement in UK projects, including the Rosebank and Jackdaw gas fields, where it holds a 50% stake in operator Adura.
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Growth Stock Scoring Breakdown
| METRIC | VALUE | WEIGHT | ANALYSIS |
|---|---|---|---|
| Sales Growth TTM ? | -1.9% | 25% | 0.0 ptsDeclining (-1.9%) - NOT a growth stock |
| EPS Growth Next 5Y ? | 13.3% | 25% | 35.0 ptsBelow Screener (13.3%) - Modest outlook |
| Target Price Upside ? | 11.0% above | 20% | 0.0 ptsAbove Target (11.0% above) - Target: $35.30 vs Current: $39.68 |
| Gross Margin % ? | 27.5% | 15% | 40.0 ptsModerate (27.5%) - Adequate margins |
| Drawdown from 52-Wk High ? | -8.7% | 15% | 20.0 ptsBarely a Dip (-8.7%) - Near recent highs |
Disclaimer: This rating is for informational purposes only and is not financial advice.
All data sourced from Finviz.
Always conduct your own research and consult with a financial advisor before making investment decisions.
Past performance does not guarantee future results.
About EQNR
- Equinor ASA operates as an energy company in Norway and internationally.
- It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; and Renewables segments.
- The company engages in the discovery and appraisal of new resources, as well as commercial development and operation of the oil and gas portfolios; oil and gas field development, well deliveries, and sourcing; research, technology development, specialist advisory services, digitalization, IT, improvement, innovation, and ventures and future business; and developing, exploring, investing in, and operating areas within renewable energy, such as offshore wind, green hydrogen, storage solutions, and solar power.
- It is also involved in the marketing, trading, processing, and transportation of crude oil and condensate, natural gas, NGL and refined products, including refineries, terminals, and processing plant operation; power and emissions trading; development of transportation solutions for natural gas, liquids, and crude oil, including pipelines, shipping, trucking, and rail; and provision of low carbon solutions.
- The company was formerly known as Statoil ASA and changed its name to Equinor ASA in May 2018.
- Equinor ASA was incorporated in 1972 and is headquartered in Stavanger, Norway.