Equinor (ADR)
Operates offshore oil and gas alongside integrated power, trading and low-carbon projects.
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Profile
Produces oil and gas across Norway, international basins and the United States, with the Norwegian continental shelf supplying most output. Marketing and trading connect the upstream portfolio to customers, while Power combines renewables, flexible generation and storage.
Produces oil and gas across Norway, international basins and the United States, with the Norwegian continental shelf at the center of output. Marketing, Midstream & Processing sells, trades, transports and processes energy commodities, while Power combines renewables, flexible generation, storage and trading.
Offshore operating expertise, a portfolio enlarged by Hydro's former oil-and-gas business, and integrated marketing connect production to customers. International activity spans multiple regions, but Norway supplies most of the group's equity production.
Oil and gas remain the production and investment core as offshore wind, carbon storage and other low-carbon projects advance selectively. The Norwegian state's roughly two-thirds direct ownership controls ordinary shareholder votes and can meet the threshold for amendments to the articles.
Company facts
Key statistics
Year to date +68.5% · Average volume (30d) 3.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| Jul 23, 2026 | RBC Capital | Upgrade | Underperform | Sector Perform | |
| Jul 1, 2026 | Nordea | Upgrade | Buy | ||
| Apr 9, 2026 | Redburn Partners | Target | $36.50 | ||
| Aug 12, 2025 | JP Morgan | Downgrade | Neutral | Underweight | |
| May 22, 2025 | Barclays | Downgrade | Overweight | Equal Weight |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 22, 2026Q2 FY26 | $1.39 | $1.33 | −4.3% | $34.03B | $34.52B | +1.5% | +2.58% |
| May 6, 2026Q1 FY26 | $1.01 | $1.48 | +46.5% | $28.73B | $27.84B | −3.1% | −2.95% |
| Feb 4, 2026Q4 FY25 | $0.60 | $0.81 | +35.0% | $22.06B | $25.30B | +14.7% | −1.23% |
| Oct 29, 2025Q3 FY25 | $0.57 | $0.37 | −35.1% | $21.36B | $26.02B | +21.8% | −0.83% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $29.38B | $25.13B | $26.02B | $25.26B | $27.82B | $34.52B | |
| Gross profit | $11.63B | $8.97B | $8.80B | $6.35B | $12.33B | $15.87B | |
| Operating income | $8.87B | $5.72B | $5.27B | $6.06B | $8.80B | $12.86B | |
| Net income | $2.63B | $1.31B | −$210.0M | $1.31B | $3.11B | $4.85B | |
| Diluted EPS | $0.93 | $0.50 | −$0.08 | $0.52 | $1.24 | $1.99 | |
| Gross margin | 39.6% | 35.7% | 33.8% | 25.1% | 44.3% | 46.0% | |
| Operating margin | 30.2% | 22.8% | 20.3% | 24.0% | 31.6% | 37.3% |
Fiscal years (4-quarter sums)FY21 $88.74B · FY22 $149.00B · FY23 $106.85B · FY24 $102.50B · FY25 $105.80B
Revenue by product · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $23.73B · Total debt $32.42B · Total assets $140.90B · Shareholders' equity $43.06B
Dividends
Last raised to $0.39 from $0.37 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Aug 27 | $0.39 | |
| May 15, 2026 | May 15 | May 27 | $0.39 | raised from $0.37 |
| Feb 17, 2026 | Feb 17 | Feb 27 | $0.37 | |
| Nov 14, 2025 | Nov 14 | Nov 26 | $0.37 | |
| Aug 19, 2025 | Aug 19 | Aug 29 | $0.37 | |
| May 16, 2025 | May 16 | May 28 | $0.37 | cut from $0.40 |
| Feb 14, 2025 | Feb 14 | Feb 28 | $0.70 | special dividend |
| Nov 19, 2024 | Nov 19 | Nov 29 | $0.70 | special dividend |
Ownership
Shares outstanding 2.39B · Float 585.97M · 24.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Folketrygdfondet | 91.02M | 3.81% | 13F | Aug 13, 2026 |
| Arrowstreet Capital, Limited Partnership | 13.86M | 0.58% | 13F | Aug 13, 2026 |
| Morgan Stanley | 11.97M | 0.50% | 13F | Aug 13, 2026 |
| Goldman Sachs Group Inc | 6.54M | 0.27% | 13F | Aug 14, 2026 |
| Bank of America Corp /DE/ | 5.58M | 0.23% | 13F | Aug 14, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Shell (ADR)
Broad overlap across upstream, gas, trading, power and low carbon
- TotalEnergies
Integrated rival in upstream, LNG, power, offshore wind and CCS
- BP (ADR)
Close overlap in upstream, gas trading, offshore wind and CCS
- ExxonMobil
Scale competitor in upstream, deepwater, LNG and carbon storage
- Chevron
Global upstream, LNG and CCS competitor with deepwater scale
- ConocoPhillips
Upstream-focused peer spanning Norway, global oil and gas, and LNG
- Eni (ADR)
European peer across upstream, gas and LNG, power, renewables and CCS
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Equinor (ADR) | $41.25 | −0.28% | $98.95B | 11.3 | 8.8 | 0.9 | +36.5% |
| Shell (ADR) | $91.47 | +0.63% | $253.47B | 10.0 | 9.2 | 0.8 | +44.7% |
| TotalEnergies | $86.31 | −0.05% | $192.30B | 10.9 | 8.4 | 1.0 | +26.2% |
| BP (ADR) | $42.30 | +0.38% | $110.54B | 21.1 | 8.3 | 0.5 | +46.5% |
| ExxonMobil | $156.80 | +0.08% | $649.44B | 20.2 | 13.2 | 1.8 | +46.0% |
| Chevron | $204.35 | +1.24% | $402.06B | 19.4 | 13.2 | 1.9 | +57.9% |
| ConocoPhillips | $129.95 | −0.32% | $158.80B | 17.3 | 13.4 | 2.5 | +39.7% |
| Eni (ADR) | $53.50 | +1.23% | $76.51B | 13.2 | 8.3 | 0.8 | +26.1% |
| Median | 17.3 | 9.2 | 1.0 | +44.7% |