reports
- ABGSC Oil & Oil Services Research
- John Olaisen
- Charlotte Vaisse
- Emmanuel Matot
- Jean-Baptiste Rouphael
- Konrad Zomer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/25/2024
Having flirted with the 495-point mark on Friday, which could have triggered an extension of the correction, the market has rebounded well since then. Our technical analysis highlights a configuration in which we are only at the start of a powerful rally. Target of 622 points for Stoxx 600 index (+11%) by the end of the year confirmed. Prefer banks to insurance companies in the short term. - ...
LHN LAFARGEHOLCIM LTD.
REL RELX PLC
GET GETLINK SE
IPN IPSEN SA
EQNR EQUINOR ASA
WCH WACKER CHEMIE AG
CA CARREFOUR SA
BVI BUREAU VERITAS SA
SU SCHNEIDER ELECTRIC SE
KNEBV KONE OYJ CLASS B
ORA ORANGE SA
RI PERNOD RICARD SA
ULVR UNILEVER PLC
GLE SOCIETE GENERALE S.A. CLASS A
NESN NESTLE S.A.
ENI ENI S.P.A.
BAS BASF SE
SAN SANOFI
VOW3 VOLKSWAGEN AG PREF
SY1 SYMRISE AG
01913 PRADA S.P.A.
REP REPSOL SA
MOCORP METSO OUTOTEC OYJ
KGX KION GROUP AG
MONC MONCLER SPA
ASSA B ASSA ABLOY AB CLASS B
IBE IBERDROLA SA
AZN ASTRAZENECA PLC
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
HFG HELLOFRESH SE
ADYEN ADYEN NV
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
DSY DASSAULT SYSTEMES SA
AZE AZELIS GROUP NV
ATCO A ATLAS COPCO AB
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
DSFIR KONINKLIJKE DSM N.V.
- Charlotte Vaisse
- Emmanuel Matot
- Jean-Baptiste Rouphael
- Konrad Zomer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/04/2024
Après avoir frôlé vendredi la barre des 495 points qui aurait pu déclencher la poursuite de la correction, le marché a ensuite bien rebondi. Notre analyse technique met en lumière une configuration où nous ne serions qu’au début d’un rallye puissant. Objectif 622 points (+11%) d’ici à la fin de l’année confirmé sur le Stoxx 600. Préférer les banques aux assurances à court terme. - ...
LHN LAFARGEHOLCIM LTD.
REL RELX PLC
GET GETLINK SE
IPN IPSEN SA
EQNR EQUINOR ASA
WCH WACKER CHEMIE AG
CA CARREFOUR SA
BVI BUREAU VERITAS SA
SU SCHNEIDER ELECTRIC SE
KNEBV KONE OYJ CLASS B
ORA ORANGE SA
RI PERNOD RICARD SA
ULVR UNILEVER PLC
GLE SOCIETE GENERALE S.A. CLASS A
NESN NESTLE S.A.
ENI ENI S.P.A.
BAS BASF SE
SAN SANOFI
VOW3 VOLKSWAGEN AG PREF
SY1 SYMRISE AG
01913 PRADA S.P.A.
REP REPSOL SA
MOCORP METSO OUTOTEC OYJ
KGX KION GROUP AG
MONC MONCLER SPA
ASSA B ASSA ABLOY AB CLASS B
IBE IBERDROLA SA
AZN ASTRAZENECA PLC
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
HFG HELLOFRESH SE
ADYEN ADYEN NV
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
DSY DASSAULT SYSTEMES SA
AZE AZELIS GROUP NV
ATCO A ATLAS COPCO AB
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
DSFIR KONINKLIJKE DSM N.V.
- Ahmed Ben Salem
Equinor : Q1 results beat expectations by 5% at the operating level an...
>A 5% beat on operating profit and 26% on adjusted net income - Q1 2024 adjusted EBIT came in at $ 7.53bn (vs $ 8.68bn in Q4; -13.2% q-o-q), 4% above our estimates and 5% ahead of consensus. Production declined by 1.3% q-o-q and was in line with expectations and expected to remain flat in 2024 vs 2023. Adjusted net income was robust at $ 2.574bn (vs $ 1.88bn in Q4), 26% above the consensus with a lower-than-expected effective tax rate at 65.8% vs 72% expected. §h...
- Ahmed Ben Salem
Equinor : Q1 results beat expectations by 5% at the operating level an...
>A 5% beat on operating profit and 26% on adjusted net income - Q1 2024 adjusted EBIT came in at $ 7.53bn (vs $ 8.68bn in Q4; -13.2% q-o-q), 4% above our estimates and 5% ahead of consensus. Production declined by 1.3% q-o-q and was in line with expectations and expected to remain flat in 2024 vs 2023. Adjusted net income was robust at $ 2.574bn (vs $ 1.88bn in Q4), 26% above the consensus with a lower-than-expected effective tax rate at 65.8% vs 72% expected. §h...
- ABGSC Oil & Oil Services Research
- John Olaisen
Equinor to commence second tranche of the 2024 share buy-back programm...
Equinor to commence second tranche of the 2024 share buy-back programme Equinor (OSE: EQNR, NYSE: EQNR) will after the annual general meeting 14 May 2024 commence the second tranche of up to USD 1.6 billion of the share buy-back programme for 2024, as announced in relation with the first quarter results 25 April 2024. Execution of share buy-back under this second tranche is subject to renewal of a board authorisation for share buy-back from the annual general meeting 14 May 2024 and agreement with the Norwegian State regarding share buy-back. In this second tranche of the share bu...
Equinor vil starte andre transje av tilbakekjøpsprogrammet for aksjer ...
Equinor vil starte andre transje av tilbakekjøpsprogrammet for aksjer for 2024 Equinor (OSE: EQNR, NYSE: EQNR) vil etter generalforsamlingen 14. mai 2024 starte andre transje av tilbakekjøpsprogrammet for aksjer for 2024 på inntil 1,6 milliarder USD, som annonsert i forbindelse med selskapets første kvartalsresultat 25. april 2024. Gjennomføring av tilbakekjøp i denne andre transjen er betinget av fornyet styrefullmakt fra generalforsamlingen den 14. mai 2024 og avtale med den norske stat om tilbakekjøp av aksjer. I denne andre transjen av tilbakekjøpsprogrammet for 2024 vil aksjer fo...
Equinor ASA: Key information relating to cash dividend for first quart...
Equinor ASA: Key information relating to cash dividend for first quarter 2024 Key information relating to the cash dividend to be paid by Equinor (OSE: EQNR, NYSE: EQNR) for first quarter 2024. Ordinary cash dividend amount: 0.35 Extraordinary cash dividend amount: 0.35 Announced currency: USD Last day including rights: 15 August 2024 Ex-date Oslo Børs: 16 August 2024 Ex-date New York Stock Exchange: 19 August 2024 Record date: 19 August 2024 Payment date: 28 August 2024 Date of approval: 24 April 2024 Other information: The cash dividend per share in NOK will be communicated 23 A...
Equinor ASA: Nøkkelinformasjon ved kontantutbytte for første kvartal 2...
Equinor ASA: Nøkkelinformasjon ved kontantutbytte for første kvartal 2024 Nøkkelinformasjon ved kontantutbytte for Equinor (OSE: EQNR, NYSE: EQNR) for første kvartal 2024. Ordinært utbyttebeløp: 0,35 Ekstraordinært utbyttebeløp: 0,35 Annonsert valuta: USD Siste dag inklusive: 15. august 2024 Ex-dato Oslo Børs: 16. august 2024 Ex-dato New York Stock Exchange: 19. august 2024 Record date (eierregisterdato): 19. august 2024 Betalingsdato: 28. august 2024 Vedtaksdato: 24. april 2024 Øvrig informasjon: Kontantutbytte i NOK per aksje vil bli kommunisert 23. august 2024. Denne informasj...
Equinor first quarter 2024 results
Equinor first quarter 2024 results Equinor (OSE: EQNR, NYSE: EQNR) delivered adjusted operating income* of USD 7.53 billion and USD 2.57 billion after tax in the first quarter of 2024. Equinor reported net operating income of USD 7.63 billion and net income at USD 2.67 billion. Adjusted net income* was USD 2.84 billion, leading to adjusted earnings per share* of USD 0.96. Financial and operational performance Strong operational performance and productionSolid financial results and cash flowHigh results from marketing and trading Strategic progress Power-from-shore to the Sleipne...
Equinors resultater for første kvartal 2024
Equinors resultater for første kvartal 2024 Equinor (OSE: EQNR, NYSE: EQNR) leverte et justert driftsresultat* på 7,53 milliarder USD, og 2,57 milliarder USD etter skatt i første kvartal 2024. Det rapporterte driftsresultatet var 7,63 milliarder USD, og resultatet for perioden var 2,67 milliarder USD. Justert resultat* var 2,84 milliarder USD, noe som ga et justert resultat per aksje* på 0,96 USD. Finansielle resultater og drift God drift og høy produksjonSolide finansielle resultater og kontantstrømSterke resultater fra tradingvirksomheten Strategisk framgang Kraft fra land til...
Equinor ASA: Notice of annual general meeting 14 May 2024
Equinor ASA: Notice of annual general meeting 14 May 2024 The annual general meeting of Equinor ASA (OSE: EQNR, NYSE: EQNR) will be held 14 May 2024 at 15:00 CEST. The annual general meeting will be held in Equinor Business Center, Forusbeen 50, 4035 Stavanger for those attending in person and via Lumi AGM for those attending digitally. Voting will be carried out electronically via Lumi AGM both for shareholders attending in person and attending digitally. It is also possible to vote in advance or give proxy. Please see detailed information under "Participation" in the notice of the a...
Equinor ASA: Innkalling til ordinær generalforsamling 14. mai 2024
Equinor ASA: Innkalling til ordinær generalforsamling 14. mai 2024 Equinor ASAs (OSE: EQNR, NYSE: EQNR) ordinære generalforsamling finner sted 14. mai 2024 klokken 15.00 CEST. Generalforsamlingen vil bli avholdt i Equinor Business Center, Forusbeen 50, 4035 Stavanger for de som deltar fysisk og via Lumi AGM for de som deltar digitalt. Avstemning vil foregå elektronisk via Lumi AGM både for aksjonærer som møter fysisk og de som deltar digitalt. Det er også mulig å forhåndsstemme eller gi fullmakt før møtet. Ytterligere informasjon finnes under "Deltakelse" i innkallingen til generalforsaml...
- Steffen Evjen
Solid NCS production in March
The preliminary Norwegian Offshore Directorate (NOD) production figures for the NCS in March showed strong liquids production of 2,086kboed (~4% above forecast) and gas production of 365mcm/d (broadly in line). Overall production was up 2.7% MOM. On a company level, production was down MOM for most names in February; Aker BP and Equinor were hit by reduced production from Johan Sverdrup, while Vår Energi was hampered by downtime at Fenja.
- Steffen Evjen
Weekly news, topics & discussion
This week, we published a Q1 preview on Equinor. We believe its share price upswing since its CMU is mainly attributable to strong performance by its peer group. The stock is trading at a 15% premium to peers, in line with its historical average. In other news, Vår Energi reported Q1 production in line with our estimates, with realised prices slightly above. We expect focus in the full Q1 report (due on 23 April) to be on Balder X and Johan Castberg. Also, according to news sources, Equinor’s ch...
- Steffen Evjen
Equinor (Hold, TP: NOK300.00) - Stable valuation relative to peers
Following the poor investor reception at its CMU, Equinor’s share price has recovered to pre-CMU levels. While some attribute this to Equinor showing discipline by not winning the Sørlige Nordsjø II offshore wind auction, we believe it is due to its peer group of European majors trading higher in recent weeks, as Equinor’s ~15% premium valuation to peers has remained stable. Our Q1e adj. EBIT is 1% above consensus. We reiterate our HOLD, but have raised our target price to NOK300 (280).
- Ahmed Ben Salem
EQNR EQUINOR ASA
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VOLV B VOLVO AB CLASS B
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SRT3 SARTORIUS AG PREF
NOKIA NOKIA OYJ
REE RED ELECTRICA CORP. SA
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SCHP SCHINDLER HOLDING AG PREF
CAP CAPGEMINI SE
EZJ EASYJET PLC
REP REPSOL SA
DIM SARTORIUS STEDIM BIOTECH SA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
BC BRUNELLO CUCINELLI S.P.A.
HLAG HAPAG-LLOYD AG
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EDEN EDENRED SA
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GALP GALP ENERGIA SGPS SA CLASS B
BN DANONE SA
KPN ROYAL KPN NV
VOLV B VOLVO AB CLASS B
ABB ABB LTD.
SRT3 SARTORIUS AG PREF
NOKIA NOKIA OYJ
REE RED ELECTRICA CORP. SA
ENI ENI S.P.A.
SCHP SCHINDLER HOLDING AG PREF
CAP CAPGEMINI SE
EZJ EASYJET PLC
REP REPSOL SA
DIM SARTORIUS STEDIM BIOTECH SA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
BC BRUNELLO CUCINELLI S.P.A.
HLAG HAPAG-LLOYD AG
BHP BHP GROUP LTD
ASML ASML HOLDING NV
BP. BP P.L.C.
FDJ LA FRANCAISE DES JEUX SA
SHEL SHELL PLC
SGSN SGS SA
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