Equinor : A good quarter buoyed by gas, increase in the dividends and target price lifted to NOK 380
>Record EBIT and 3% ahead of expectations - Q3 2022 adjusted EBIT was $ 24.3bn (vs $17.6bn in Q2; +38.2.2% q-o-q), 3% above the consensus benefiting from the sharp rebound in European gas prices of 65% q-o-q, while adjusted net profit was $ 6.71bn (vs $ 5bn in Q2), 3% above the consensus. These results reflect a stable effective tax rate of 72.3% q-o-q. Production also recovered by 2.3% to 1,885 kboe/d due to the resumption of production at Snøhvit and Martin Linge wi...Equinor is engaged in oil and gas exploration and production activities. Co. is primarily focused on exploration, development and production of oil and gas on the Norwegian continental shelf (NCS). Co.'s operations are organized into four segments. The Development and Production Norway and Development and Production International segments explore, develop, produce and extract crude oil, natural gas and natural gas liquids. The Marketing, Processing and Renewable Energy segment markets, trades, transports and processes oil and natural gas and renewable energy. The Other segment consists of global well and project delivery, research and develpoment, and business development.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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