Equinor ASA (NYSE:EQNR) Posts Earnings Results

Equinor ASA (NYSE:EQNR) announced its earnings results on Wednesday. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.21, Zacks reports. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $21.31 billion. Equinor ASA had a return on equity of 15.03% and a net margin of 4.74%.

Here are the key takeaways from Equinor ASA’s conference call:

• Equinor delivered record production of 2,137,000 barrels per day in 2025 and expects around 3% production growth in 2026, with cash flow from operations after tax guided to roughly $16bn in 2026 and ~ $18bn in 2027 at current price assumptions.
• Management reduced its 2026–2027 CapEx outlook by about $4 billion, guiding organic CapEx of ~$13 billion for 2026 and ~$9 billion for 2027 while prioritizing investments (~60% NCS, 30% international oil & gas, 10% power).
• Equinor reaffirmed shareholder returns: quarterly cash dividend raised to $0.39 per share with an ambition to grow it by $0.02 annually, and a $1.5 billion share buyback programme for 2026 (first tranche $375m).
• Empire Wind is >60% complete with total CapEx now expected at about $7.5 billion (?$3bn remaining) and expected ITC benefit of ~$2.5bn, but the project remains exposed to legal risk and potential tariffs despite a preliminary injunction allowing work to resume.
• Safety remains a material concern after a colleague was fatally injured at Mongstad in September; management emphasized the need for further improvement despite overall safety trends improving.

Equinor ASA Stock Performance

Shares of NYSE:EQNR traded up $1.19 during trading on Friday, hitting $27.65. 2,309,754 shares of the company traded hands, compared to its average volume of 5,609,463. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average is $24.09 and its 200-day moving average is $24.30. The stock has a market capitalization of $81.41 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 3.35 and a beta of 0.38. Equinor ASA has a one year low of $21.41 and a one year high of $28.26.

Equinor ASA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Tuesday, February 17th. Equinor ASA’s payout ratio is presently 64.21%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. McIlrath & Eck LLC acquired a new stake in Equinor ASA in the second quarter worth $36,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Equinor ASA by 172.9% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,174 shares of the company’s stock valued at $77,000 after acquiring an additional 2,011 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Equinor ASA by 50.3% during the second quarter. EverSource Wealth Advisors LLC now owns 5,230 shares of the company’s stock valued at $131,000 after acquiring an additional 1,751 shares during the period. Brevan Howard Capital Management LP bought a new position in shares of Equinor ASA during the third quarter worth about $202,000. Finally, Flow Traders U.S. LLC acquired a new stake in shares of Equinor ASA in the 3rd quarter worth about $212,000. Institutional investors and hedge funds own 5.51% of the company’s stock.

Key Stories Impacting Equinor ASA

Here are the key news stories impacting Equinor ASA this week:

• Positive Sentiment: Q4 results beat expectations — EPS of $0.81 (vs. $0.60 est.) and revenue of $25.3B topped forecasts; management also targets ~3% production growth for 2026 while cutting capex ~ $4B, which should support cash generation and shareholder returns. Equinor Q4 & full?year 2025 results
• Positive Sentiment: Divestment: Equinor agreed to sell Argentina onshore (Vaca Muerta) assets to Vista Energy for $1.1B — improves liquidity and focuses exposure on offshore/upstream assets. Divestment to Vista Energy
• Positive Sentiment: Commercial win: Signed a five?year gas supply agreement with Netherlands’ Eneco, providing multi?year contracted volumes and revenue visibility in a core market. Eneco gas deal (Reuters)
• Neutral Sentiment: Analyst coverage: Pareto Securities upgraded Equinor from Hold to Strong?Buy — a constructive signal for sentiment. Pareto upgrade (Zacks)
• Neutral Sentiment: Investor materials and call transparency — earnings call transcript and presentation are available for deeper detail on guidance, cash allocation and project timing (useful for modeling cash flow and capex trajectory). Q4 earnings call transcript Earnings presentation
• Neutral Sentiment: Insider/share plan activity: Allocation of bonus shares under Equinor’s share savings plan was reported (notifiable trading). Typically neutral but monitor for any signaling on insider confidence or dilution. Notifiable trading (GlobeNewswire)
• Negative Sentiment: Bank of America downgraded Equinor from Buy to Neutral — a sign that at least one large strategist is less bullish on near?term upside. BoA downgrade (Finviz)
• Negative Sentiment: TD Cowen raised its price target to $25 but kept a Hold rating; that PT implies downside relative to current levels, which could cap upside until fundamentals or commodity/FX moves justify a higher valuation. TD Cowen PT update (Finviz)

Analysts Set New Price Targets

EQNR has been the topic of several recent analyst reports. Pareto Securities raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Thursday. Jefferies Financial Group began coverage on shares of Equinor ASA in a research report on Thursday, January 8th. They issued a “hold” rating for the company. Barclays reaffirmed an “underweight” rating on shares of Equinor ASA in a research report on Friday, October 31st. Zacks Research downgraded Equinor ASA from a “hold” rating to a “strong sell” rating in a research note on Thursday, December 11th. Finally, TD Cowen upped their price objective on Equinor ASA from $22.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and nine have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $24.71.

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.