reports
- Steffen Evjen
- ABGSC Energy Research
- Daniel Vårdal Haugland
- Haakon Amundsen
- John Olaisen
- Njål Kleiven
- Oliver Dunvold
- Stian Wibstad
- ABGSC Oil & Oil Services Research
- Haakon Amundsen
- Njål Kleiven
Equinor ASA: Share buy-back – first tranche for 2025
Equinor ASA: Share buy-back – first tranche for 2025 Please see below information about transactions made under the first tranche of the 2025 share buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR, CEUX:EQNRO, TQEX:EQNRO). Date on which the tranche was announced: 5 February 2025. The duration of the tranche: 6 February to no later than 2 April 2025. Further information on the tranche can be found in the stock market announcement on its commencement dated 5 February 2025, available here: From 6 February to 7 February 2025, Equinor ASA has purchased a total of 1,200,000 own shares...
Equinor ASA: Tilbakekjøp av egne aksjer – første transje for 2025
Equinor ASA: Tilbakekjøp av egne aksjer – første transje for 2025 Nedenfor følger informasjon om transaksjoner foretatt under første transje av Equinor ASAs (OSE:EQNR, NYSE:EQNR, CEUX:EQNRO, TQEX:EQNRO) tilbakekjøpsprogram for 2025. Dato for når transjen ble annonsert: 5. februar 2025. Transjens varigheten: 6. februar til senest 2. april 2025. Ytterligere informasjon om transjen kan finnes i børsmelding om dens oppstart datert 5. februar 2025, tilgjengelig her: Fra 6. februar til 7. februar 2025, har Equinor ASA kjøpt tilbake totalt 1.200.000 egne aksjer til en gjennomsnittspris på NOK...
Hexagon Purus ASA: Results for the fourth quarter and preliminary full...
Hexagon Purus ASA: Results for the fourth quarter and preliminary full-year 2024 Key developments in Q4 2024 and after balance sheet date: Quarterly revenue of NOK 396 million in the fourth quarter of 2024, up 8% from the fourth quarter of 2023. Full year (FY) 2024 revenue ended at NOK 1,876 million, up 42% compared to FY 2023 revenue;EBITDA was NOK -104 million in the fourth quarter of 2024, compared to NOK -129 million in the same period last year. This corresponds to an EBITDA margin of -26% in the fourth quarter of 2024, up from -35% in the fourth quarter of 2023. For FY 2024, the EBI...
- Martin Huseby Karlsen
Offshore spending plateauing
After reviewing major oil companies’ most recent spending plans, we estimate offshore spending growth of c3% YOY in 2025 (down from c5% late last year and c8% six months ago). We believe a combination of supply-chain bottlenecks, efficiency gains, and capital discipline among oil companies are the main reasons for spending growth fading, resulting in a mid-cycle plateau. On the flip side, the cycle keeps building duration, as we see investments being pushed into 2026–2027. Also, activity levels ...
SDRL SEADRILL LTD
ARCHERO ARCHER
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
ODL ODFJELL DRILLING
AKSOO AKER SOLUTIONS ASA
DO DIAMOND OFFSHORE DRILLING INC.
RIGN TRANSOCEAN LTD.
BWO BW OFFSHORE LIMITED
BORR BORR DRILLING
SHLF SHELF DRILLING LTD.
VAL VALARIS LTD
NE NOBLE CORP NEW
OTL ODFJELL TECHNOLOGY LTD
SDNS SHELF DRILLING NORTH SEA
DDRIL DOLPHIN DRILLING
DOFG DOF GROUP ASA
VTURA VENTURA OFFSHORE
PLSV PARATUS ENERGY SERVICES LTD.
- ABGSC Energy Research
- Daniel Vårdal Haugland
- Haakon Amundsen
- John Olaisen
- Njål Kleiven
- Oliver Dunvold
- Stian Wibstad
Hexagon Purus renews long-term agreement for supply of hydrogen fuel s...
Hexagon Purus renews long-term agreement for supply of hydrogen fuel storage systems with transit bus customer (Oslo, Norway, 7 February 2025) Hexagon Purus, a world leading manufacturer of zero-emission mobility and infrastructure solutions, has today renewed its multi-year supply agreement with a leading European bus manufacturer for the delivery of hydrogen fuel storage systems to transit buses until 2028. Production of the next generation Type 4 hydrogen storage systems will be out of Hexagon Purus’ facility in Kassel (Germany). For more information Mathias Meidell, Investor Relatio...
- ABGSC Capital Goods Research
- Anders Idborg
- Karl Bokvist
VOLV B VOLVO AB CLASS B
WRT1V WARTSILA OYJ ABP
ABB ABB LTD.
SAND SANDVIK AB
TREL B TRELLEBORG AB CLASS B
MOCORP METSO OUTOTEC OYJ
ASSA B ASSA ABLOY AB CLASS B
SKF B SKF AB CLASS B
HPOL B HEXPOL AB CLASS B
ALFA ALFA LAVAL AB
MTRS B MUNTERS GROUP
HEXA B HEXAGON AB
EPI A EPIROC AB
NIBE B NIBE INDUSTRIER AB
ATCO A ATLAS COPCO AB
ALIV SDB AUTOLIV INC.
- Steffen Evjen
Weekly news, topics & discussion
Despite announcing pared-back renewables ambitions at its CMU this week, we still see a weak risk/reward for Equinor, and struggle to identify meaningful potential upside. In conjunction with the CMU, it confirmed maintained current production on Johan Sverdrup through 2025e. Given the field accounts for 50% of Aker BP's production, this week we raised our 2025–2026e production and EPS by 2%. Also, Panoro Energy reported strong Q4 production, in our view de-risking our 2025 production estimate o...
- Stephane Foucaud
AUCTUS ON FRIDAY - 02/07/2025
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price of £0.80 per share: Appraisal drilling results at Alberta Llanos unlock full field development with horizontal wells - Following the discovery well, Arrow has drilled two new vertical wells at Alberta Llanos, effectively delineating the field. The AB-2 well at the far northern limit of the field encountered multiple hydrocarbon-bearing intervals with good reservoir characteristics but came i...
FP TOTAL SE
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
EGY VAALCO ENERGY INC.
OMV OMV AG
ALVOF ALVOPETRO ENERGY LTD
PEN PANORO ENERGY ASA
DNO DNO ASA CLASS A
AOI AFRICA OIL CORP
AXL. ARROW EXPLORATION LTD
HHR HARTSHEAD RESOURCES NL
PRD PREDATOR OIL & GAS HOLDINGS PLC
PLSR PULSAR HELIUM INC.
Equinor ASA: Meldepliktig handel
Equinor ASA: Meldepliktig handel Tildeling av aksjer til enkelte primærinnsidere og deres nærstående i Equinor (OSE: EQNR, NYSE: EQNR) i henhold til Equinors aksjespareplan. Enkelte primærinnsidere, samt deres nærstående, som deltar i Equinors aksjespareplan har den 7. februar 2025 fått tildelt bonusaksjer. Detaljer om individuelle tildelinger av aksjer til primærinnsidere og deres nærstående er inntatt i vedlegget. Denne opplysningen er informasjonspliktig etter EU Market Abuse Regulation, jf. verdipapirhandelloven § 3-1, samt verdipapirhandelloven §5-12. Vedlegg ...
Equinor ASA: Notifiable trading
Equinor ASA: Notifiable trading Allocation of shares to certain primary insiders and their close associates in Equinor (OSE: EQNR, NYSE: EQNR) under Equinor’s share savings plan. Certain primary insiders, and their close associates, participating in Equinor’s share savings plan, have on 7 February 2025 been allocated bonus shares. Details on individual allocation of shares to the primary insiders and their close associates are set forth in the attached notification. This information is subject to disclosure obligations pursuant to the EU Market Regulation, cf. section 3-1 in the Norwegia...
- Benoit Valleaux
- Steven Gould
- Thomas Zlowodzki
BRE MBANK SA
FP TOTAL SE
EQNR EQUINOR ASA
MT ARCELORMITTAL SA
DBK DEUTSCHE BANK AG
RI PERNOD RICARD SA
DEMANT DEMANT A/S
KOMB KOMERCNI BANKA A.S.
ORSTED ORSTED
RAA RATIONAL AG
SPSN SWISS PRIME SITE AG
ASSA B ASSA ABLOY AB CLASS B
INGA ING GROEP NV
AD KONINKLIJKE AHOLD DELHAIZE N.V.
AZN ASTRAZENECA PLC
SHL SIEMENS HEALTHINEERS AG
VWS VESTAS WIND SYSTEMS
ARM ARM HOLDINGS PLC
- Benoit Valleaux
- Steven Gould
- Thomas Zlowodzki
BRE MBANK SA
FP TOTAL SE
EQNR EQUINOR ASA
MT ARCELORMITTAL SA
DBK DEUTSCHE BANK AG
RI PERNOD RICARD SA
DEMANT DEMANT A/S
KOMB KOMERCNI BANKA A.S.
ORSTED ORSTED
RAA RATIONAL AG
SPSN SWISS PRIME SITE AG
ASSA B ASSA ABLOY AB CLASS B
INGA ING GROEP NV
AD KONINKLIJKE AHOLD DELHAIZE N.V.
AZN ASTRAZENECA PLC
SHL SIEMENS HEALTHINEERS AG
VWS VESTAS WIND SYSTEMS
ARM ARM HOLDINGS PLC
- ABGSC Energy Research
- Daniel Vårdal Haugland
- Haakon Amundsen
- John Olaisen
- Njål Kleiven
- Oliver Dunvold
- Stian Wibstad
- Ahmed Ben Salem
- Ahmed Ben Salem
- Steffen Evjen
Equinor (Sell, TP: NOK220.00) - Probably as good as it gets
We still see a poor risk/reward in the stock, and struggle to identify any upside potential, as the scale-back in renewables has materialised. We doubt renewables ambitions will be cut further, and remain wary of potential cost overruns. With its net debt ratio within the targeted range in 2025e, we believe dividends and buybacks post-2025 could be capped by FCF, which on our estimates, is set to drop sequentially in 2026–2027 (10–5% yield), ultimately leading to inferior shareholder distributio...
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