| Wednesday | ||||
Societe Generale analyst… Societe Generale analyst Yoann Charenton upgraded Equinor to Buy from Hold with a price target of NOK 320, down from NOK 325, arguing that the selloff in the shares has pushed free cash flow and distribution yields "into attractive territory." The firm has cut its 2023 EPS estimate by about 16% as it lowered its 2023 European hub gas price assumption by 25% and its 2023 Henry Hub input by 27%, but it is sticking with its longer-dated input estimates, the analyst noted. | ||||
Societe Generale upgraded… Societe Generale upgraded Equinor to Buy from Hold. | ||||
| Tuesday | ||||
Morgan Stanley analyst… Morgan Stanley analyst Martijn Rats lowered the firm's price target on Equinor to NOK 325 from NOK 360 and keeps an Equal Weight rating on the shares. | ||||
| Monday | ||||
The company states:… The company states: "Equinor has entered into an agreement to divest 28% working interest in PL037, Statfjord area, to OKEA with an effective date 1 January 2023. The total consideration is $220M plus a contingent payment element based on oil and gas prices over a 3-year period. A 28% working interest in PL037 gives 23.9% in Statfjord Unit, 28% in Statfjord Nord, 14% in Statfjord Ost Unit and 15.4% in Sygna Unit." Reference Link | ||||
| Over a week ago | ||||
JPMorgan analyst… JPMorgan analyst Christyan Malek raised the firm's price target on Equinor to NOK 310 from NOK 290 and keeps an Underweight rating on the shares. | ||||
| Over a month ago | ||||
TechnipFMC (FTI) has been… TechnipFMC (FTI) has been awarded a significant contract for the subsea production system for Equinor's (EQNR) Verdande project on the Norwegian Continental Shelf. The contract - awarded under TechnipFMC's framework agreement with Equinor - covers the complete subsea production system including subsea trees and structures, control systems, connections, tooling, and installation support. Jonathan Landes, President, Subsea at TechnipFMC, commented: "This latest contract highlights the close relationship we have with Equinor under the framework agreement. We are delighted that Equinor is once again placing trust in our technology." For TechnipFMC, a "significant" contract is between $75M and $250M. | ||||
TechnipFMC (FTI) has been… TechnipFMC (FTI) has been awarded a significant contract for subsea production systems by Equinor (EQNR) for its Irpa oil and gas development on the Norwegian Continental Shelf. Awarded under the companies' framework agreement, the contract covers the supply and installation support of subsea trees, control systems, structures, and connections, as well as tooling. Jonathan Landes, President, Subsea at TechnipFMC, commented: "This project will utilize our standardized production system, which was designed to meet the specific demands of the Norwegian Continental Shelf. The award demonstrates Equinor's confidence in our technology, quality, and ability to deliver. We're delighted to continue supporting them." For TechnipFMC, a "significant" contract is between $75M and $250M. | ||||
Shell Offshore, a… Shell Offshore, a subsidiary of Shell (SHEL), announced that production has started at the Shell-operated Vito floating production facility in the US Gulf of Mexico, GoM. "Vito is an excellent example of how we are approaching our projects to meet the energy demands of today and tomorrow, while remaining resilient as we work toward achieving net zero emissions by 2050," said Zoe Yujnovich, Shell's Upstream Director, adding, "Building on more than 40 years of deep-water expertise, projects like Vito enable us to generate greater value from the GoM, where our production has amongst the lowest greenhouse gas intensity in the world for producing oil." The Vito development is owned by Shell Offshore, 63.11% operator, and Equinor (EQNR), 36.89%. | ||||
Exane BNP Paribas analyst… Exane BNP Paribas analyst Paul Redman upgraded Equinor to Neutral from Underperform with a NOK 360 price target. | ||||
Morgan Stanley analyst… Morgan Stanley analyst Martijn Rats upgraded Equinor to Equal Weight from Underweight with a price target of NOK 360, up from NOK 260, as part of a broader research note on European energy names. The company outperformed expectations on trading activity and its distribution also "surprised positively", the analyst tells investors in a research note. | ||||
