Equinor ASA (NYSE:EQNR – Get Free Report) released its quarterly earnings results on Wednesday. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.47, FiscalAI reports. Equinor ASA had a net margin of 4.74% and a return on equity of 15.23%. The business had revenue of $28.40 billion for the quarter, compared to analyst estimates of $28.73 billion.
Here are the key takeaways from Equinor ASA’s conference call:
- Record production: Equinor reported all-time high production of >2.3 million bbl/day (up 9% YoY), driven by high regularity on the NCS and record U.S. output from Caesar/Tonga and onshore gas positions.
- Strong quarter and shareholder returns: Adjusted operating income was $9.8bn and net income $3.1bn, MMP trading contributed ~$787m, the company holds ~$20bn cash and the board approved $0.39/share dividend plus up to $375m buyback tranche (maintaining $1.5bn buyback guidance).
- Near-term cash flow headwinds: Cash flow from operations after tax was $6bn but was reduced this quarter by ~ $900m of cash collaterals for trading, a net working capital increase (~$800m) and large NCS tax installments (paid $4.2bn this quarter, with three NOK20bn installments due next quarter).
- Guidance and capital discipline maintained: Management kept 2026 guidance unchanged (?3% production growth, $13bn organic CapEx) and says it does not expect to lean on the balance sheet this year under current prices, while any incremental buybacks would depend on earnings and remain uncertain.
Equinor ASA Stock Performance
Shares of EQNR traded down $3.33 during trading hours on Wednesday, reaching $38.03. 6,446,495 shares of the company traded hands, compared to its average volume of 6,996,004. The stock has a market capitalization of $111.99 billion, a P/E ratio of 20.02, a P/E/G ratio of 1.43 and a beta of 0.07. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. Equinor ASA has a 12-month low of $22.26 and a 12-month high of $43.46. The business has a fifty day moving average price of $37.08 and a 200-day moving average price of $28.90.
Equinor ASA Increases Dividend
Wall Street Analyst Weigh In
EQNR has been the topic of several analyst reports. Zacks Research raised shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 25th. Morgan Stanley raised shares of Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $40.40 price target on the stock in a report on Tuesday, March 24th. Weiss Ratings raised shares of Equinor ASA from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Jefferies Financial Group began coverage on shares of Equinor ASA in a report on Thursday, January 8th. They issued a “hold” rating on the stock. Finally, TD Cowen boosted their price objective on shares of Equinor ASA from $25.00 to $37.00 and gave the company a “hold” rating in a report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $34.61.
View Our Latest Analysis on EQNR
Institutional Investors Weigh In On Equinor ASA
A number of large investors have recently made changes to their positions in the stock. Blair William & Co. IL grew its holdings in shares of Equinor ASA by 2.7% during the fourth quarter. Blair William & Co. IL now owns 14,837 shares of the company’s stock valued at $351,000 after buying an additional 389 shares during the last quarter. National Bank of Canada FI boosted its holdings in Equinor ASA by 1.1% in the third quarter. National Bank of Canada FI now owns 39,045 shares of the company’s stock valued at $952,000 after purchasing an additional 437 shares during the last quarter. TD Asset Management Inc boosted its holdings in Equinor ASA by 5.4% in the fourth quarter. TD Asset Management Inc now owns 9,711 shares of the company’s stock valued at $229,000 after purchasing an additional 501 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Equinor ASA by 86.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,318 shares of the company’s stock valued at $31,000 after purchasing an additional 610 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Equinor ASA by 3.1% in the third quarter. Van ECK Associates Corp now owns 20,173 shares of the company’s stock valued at $492,000 after purchasing an additional 614 shares during the last quarter. 5.51% of the stock is owned by hedge funds and other institutional investors.
Equinor ASA News Summary
Here are the key news stories impacting Equinor ASA this week:
- Positive Sentiment: Company reported strong quarterly profits and an adjusted EPS beat (adjusted EPS $1.48; adjusted operating income USD 9.77B; net income USD 3.10B), which supports valuation. Equinor first quarter 2026 results
- Positive Sentiment: Board approved a second tranche share buy-back of up to USD 375M, supporting shareholder returns and offsetting some investor concerns. Equinor Sets Second 2026 Share Buy-Back Tranche of Up to USD 375 Million
- Positive Sentiment: Higher output and a March price surge tied to the Middle East conflict lifted profits and underpin near-term cash generation potential. Equinor first-quarter profit rises more than expected
- Neutral Sentiment: Demand signals: Equinor says interest in Norwegian petroleum products and LNG has risen in Asia-Pacific after Gulf supply disruption — a potential demand tailwind but timing/contracting is uncertain. Iran war lifts Asia-Pacific interest for Norwegian petroleum products, LNG, Equinor says
- Neutral Sentiment: Company declared a Q1 cash dividend of USD 0.39 — supportive for income investors but already priced into yield-focused holders. Key information relating to cash dividend for first quarter 2026
- Negative Sentiment: Cash generation weakened sharply — cash from operations fell ~42% YoY and cash & equivalents declined ~20% — raising near-term liquidity and free?cash concerns despite the profit beat. Equinor ASA (EQNR) Releases Q1 2026 Earnings: EPS Up 29% Despite Revenue Decline
- Negative Sentiment: Top-line weakness and margin pressure: revenue and gross profit fell YoY while cost of sales rose, which offsets some of the operating-profit strength. Equinor ASA (EQNR) Releases Q1 2026 Earnings: EPS Up 29% Despite Revenue Decline
- Negative Sentiment: Large institutional trimming: several big holders materially reduced positions in recent filings, which can add selling pressure and hurt sentiment. Equinor ASA (EQNR) Releases Q1 2026 Earnings: EPS Up 29% Despite Revenue Decline
- Negative Sentiment: Macro/supply risk: Equinor warns Europe may struggle to hit 80% pre?winter gas storage, which adds uncertainty to gas markets and could increase price volatility. Europe is unlikely reach 80% pre-winter gas storage target, Equinor says
Equinor ASA Company Profile
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.
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