Skip to Content

Equinor ASA ADR EQNR

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Equinor Earnings Recover on Higher Oil Prices, Breakout of Renewable Segment Shows Growing Relevance

Allen Good, CFA Sector Strategist

Analyst Note

| Allen Good, CFA |

Equinor reported first-quarter adjusted earnings after tax of $2.7 billion compared with adjusted earnings after tax of $561 million the year before on higher commodity prices that benefited each upstream segment. E&P Norway adjusted earnings rose to $3.6 billion compared with $1.9 billion a year ago. E&P international segment posted adjusted earnings of $382 million compared with earnings of $4 million last year, and E&P USA posted earnings of $192 million compared with earnings of $11 million last year. Total equity production during the quarter was 2,168 mboed, down 3% from 2,233 last year on natural decline, repairs at Peregrino, and long-term outage of the Hammerfest LNG plant following a fire in September 2020 offset by increased production from Johan Sverdrup and Snorre. Production in 2021 is expected to grow by 2% compared with 2020. Guidance remains for a 3% CAGR from 2020-26.

Read Full Analysis

Company Profile

Business Description

Equinor is a Norway-based integrated oil and gas company. It has been publicly listed since 2001, but the government retains a 67% stake. Operating primarily on the Norwegian Continental Shelf, the firm produced 2.1 million barrels of oil equivalent per day in 2020 (54% oil) and ended the year with 5.3 billion barrels of proven reserves (51% oil). Operations also include oil refineries and natural gas processing, marketing, and trading.

Contact
Forusbeen 50
Stavanger, N-4035, Norway
T +47 51990000
Sector Energy
Industry Oil & Gas Integrated
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 21,245

Related