Equinor Is Still One Of The More Stable Energy Plays
Equinor's dividend yield remains strong at 3.40%, with buybacks increased to $3 billion for 2026, reflecting healthy cash ...
Model output · Signal date 2026-10-16
Equinor Asa (EQNR) Stock Forecast Oct. 16, 2026
Analysis updated on Oct. 16, 2026 (UTC) · Alpha · vs marketSwitch to Total · NYSE
Rating · 90D
▼ Bearish
Exact rating locked
90-day forecast
Sign up free to reveal
30-day forecast
Alpha
Rank in coverage
Bottom 35%
of 5172 stocks scored
Rank correlation · 90D
-1.0%
Spearman, 357 dates
Market Cap
$117.46B
large-cap · #6 of 15 peers
Summary
Equinor Asa (EQNR) stock forecast summary
Our AI ranks Equinor Asa outside the neutral middle of its coverage (a directional signal). Create a free account and follow it to see the exact price target.
Equinor Asa is a large-cap company with a market capitalization of $117.46B. It ranks number 6 by market capitalization among the 15 Petroleum Refining issuers in our coverage with a current forecast. Its P/E Ratio of 5.28x is the lowest of the 11 peers that report one. Its ROE of 63.1% is the highest of the 10 peers that report one.
For EQNR, the Spearman rank correlation between our 90-day forecasts and the returns that followed is -1.0%, measured on 357 forecast dates between 2022-07-29 and 2026-07-17 on this stock's own recent history. A rank correlation runs from -100% to +100%: it measures whether higher forecasts were followed by higher returns, and a value near zero or below means the model has shown little skill on this stock. On the 30-day forecasts the same correlation is 3.0%, measured on 400 forecast dates between 2022-07-29 and 2026-09-16. Across our coverage, the out-of-sample test on 4495 stocks from 2025-01-06 to 2026-07-07 produced a positive net return in 82.5% of rebalance periods (factor-neutral book, net of estimated costs). Full backtest report
Expected return relative to the market over the horizon: a positive alpha means the model expects the stock to beat the market, whatever the market does. Ratings: strong buy ≥ +1.8%, buy ≥ +0.2%, sell < -0.9%, strong sell < -1.2% (top 15%, next 20%, middle 30%, next 20%, bottom 15% of the 2026-10-16 signals)
A free account shows the exact forecast, rating and rank of 3 tickers you follow, EQNR included.
Follow EQNR freePrice
EQNR price chart and AI forecast
Cross-section · 2026-10-16
How EQNR ranks among 5172 stocks
90D Alpha forecasts of every company scored, cut into five relative ratings at the 15th, 35th, 65th and 85th percentiles (dashed lines).
Fundamentals · 2025-12-31
Equinor Asa (EQNR) fundamentals
Trailing twelve months. The industry median and the rank (1 = highest) are taken over the Petroleum Refining peers listed below that report each metric.
Valuation & Market
| Metric | EQNR | Rank |
|---|---|---|
| Market Cap | $117.46B | 6/15 |
| P/E Ratio | 5.28x | 11/11 |
| EPS | $8.90 | – |
| Revenue/Share | $137.37 | – |
| FCF/Share | $12.38 | – |
Profitability & Margins
| Metric | EQNR | Rank |
|---|---|---|
| ROE | 63.1% | 1/10 |
| ROA | 19.4% | 1/9 |
| Gross Margin | 51.3% | 2/11 |
| Operating Margin | 28.3% | 1/8 |
| Net Margin | 7.4% | 4/11 |
| EBT Margin | 28.7% | 1/11 |
| Tax Rate | 74.1% | – |
The effective tax rate is outside the normal band, which points to a large non-recurring tax item in the trailing twelve months; headline net income, net margin and P/E are affected by it.
Financial Health
| Metric | EQNR | Rank |
|---|---|---|
| D/E Ratio | 2.26x | 5/13 |
| Financial Leverage | 3.26x | 4/10 |
Cash Flow
| Metric | EQNR | Rank |
|---|---|---|
| Operating Cash Flow | $71.13B | 1/13 |
| Free Cash Flow | $30.96B | 1/8 |
| Capital Spending | -$40.17B | 8/8 |
| OCF Growth YoY | -10.1% | 9/10 |
| FCF Growth YoY | 0.0% | – |
| FCF/Sales | 9.0% | 4/8 |
| CapEx/Sales | 11.7% | 2/8 |
Operational Efficiency
| Metric | EQNR | Rank |
|---|---|---|
| Asset Turnover | 2.61x | 1/10 |
| Inventory Turnover | 50.2x | 1/11 |
| Days Inventory | 7 days | 11/11 |
| Payables Period | 21 days | 8/9 |
Income Statement
| Metric | EQNR | Rank |
|---|---|---|
| Total Revenue | $343.46B | 2/13 |
| Operating Income | $97.32B | 1/8 |
| Net Income | $25.52B | 1/11 |
| R&D Expense | $1.32B | – |
| SG&A Expense | $3.94B | 2/9 |
| Cost of Goods Sold | $167.30B | 1/11 |
Dividend & Shareholder Information
| Metric | EQNR | Rank |
|---|---|---|
| Shares Outstanding | 2500M | – |
| Net Income Growth | -44.5% | 8/9 |
| EPS Growth | -38.1% | 7/7 |
Balance Sheet Highlights (USD millions)
| Cash & Short-term Investments | $5.04B | |
| Inventory | $3.33B | |
| Total Liabilities | $91.23B |
Quarterly Financial Reports
EQNR quarterly financials and insider trading
Industry Peers · Petroleum Refining
Equinor Asa (EQNR) industry peers
Companies classified under the same SEC industry code as Equinor Asa (Petroleum Refining): 15 common-stock issuers with a forecast this week, one row per issuer, largest first. This is a classification match, not a curated list of competitors.
Reveal all forecasts · See exact % predictions for all competitors
Sign up free| Company | 90-Day AI Forecast (Alpha) | Market Cap |
|---|---|---|
| EQNR Equinor Asa | ▼ | $117.46B |
| CVX Chevron Corp | ▼ | $444.53B |
| COP Conocophillips | ▼ | $176.01B |
| MPC Marathon Petroleum Corp | ▲ | $134.25B |
| BP Bp Plc | ▼ | $129.61B |
| VLO Valero Energy Corp/Tx | ▶ | $128.04B |
| PSX Phillips 66 | ▶ | $116.98B |
| IMO Imperial Oil Ltd | ▼ | $64.76B |
| YPF Ypf Sociedad Anonima | ▶ | $20.49B |
| SUN Sunoco Lp | ▲ | $10.03B |
| PBF Pbf Energy Inc. | ▲ | $10.02B |
| CVI Cvr Energy Inc | ▲ | $6.17B |
| IEP Icahn Enterprises L.P. | ▶ | $4.73B |
| DK Delek Us Holdings, Inc. | ▲ | $4.69B |
| SUNC Sunococorp Llc | ▲ | $3.73B |
Where EQNR sits on the market map
Energy & Transportation · Petroleum Refining
News
Equinor Asa (EQNR) stock news
Equinor expands Dutch natural gas supply with new Eneco agreement
Equinor ASA EQNR, a Norwegian integrated energy company, has signed a five-year agreement with the Dutch energy firm Eneco for the supply of natural gas. This marks the third supply agreement between ...
Equinor stock: Market consensus sets Equinor stock target at USD 43.47
MarketBeat reported on October 9, 2026 that analysts held a USD 43.47 average 12-month target for Equinor, with eight of 13 ...
FAQ
Equinor Asa (EQNR) stock forecast FAQ
What is the Equinor Asa (EQNR) stock forecast?
Our AI ranks Equinor Asa outside the neutral middle of its coverage (a directional signal). Create a free account and follow it to see the exact price target.
How accurate are Equinor Asa stock predictions?
For EQNR, the Spearman rank correlation between our 90-day forecasts and the returns that followed is -1.0%, measured on 357 forecast dates between 2022-07-29 and 2026-07-17 on this stock's own recent history. A rank correlation runs from -100% to +100%: it measures whether higher forecasts were followed by higher returns, and a value near zero or below means the model has shown little skill on this stock. On the 30-day forecasts the same correlation is 3.0%, measured on 400 forecast dates between 2022-07-29 and 2026-09-16. Across our coverage, the out-of-sample test on 4495 stocks from 2025-01-06 to 2026-07-07 produced a positive net return in 82.5% of rebalance periods (factor-neutral book, net of estimated costs). Full backtest report
How often are Equinor Asa forecasts updated?
Equinor Asa forecasts are refreshed on trading days as the daily model run completes. The forecast on this page was produced on Oct. 16, 2026.
Which companies are Equinor Asa's industry peers?
15 issuers in our coverage, EQNR included, share the SEC industry code Petroleum Refining. The largest are: Chevron Corp (CVX), Conocophillips (COP), Marathon Petroleum Corp (MPC), Bp Plc (BP), Valero Energy Corp/Tx (VLO), Phillips 66 (PSX).
This analysis is generated automatically using our proprietary AI systems and should not be considered personalized investment advice. Past performance does not guarantee future results. Always conduct your own research and consider consulting a financial advisor before making investment decisions.