Equinor (EQNR) Stock Analysis & Forecast

Nov 4 close

$42.80−2.83 (−6.2%)

Gekko Brief

AI summaryNov 4 close

Equinor's week centers on Q3 results and a raised production outlook, alongside a notable exploration update. The company lifted its 2026 production growth outlook to 4% on strong operations and refining performance, even as the quarter showed an earnings and revenue miss, with adjusted operating income of $12.4 billion before tax and cash flow from operations of $8.1 billion. Separately, Equinor raised its estimated recoverable gas volumes at the Afrodite discovery in the Norwegian North Sea, with potential estimates between 77 and 180 MMBoe. The company also continued its 2026 buyback program, including a fourth tranche, and flagged first power expected from the Empire Wind project in H1 2027.

EQNR closed at $42.80, down 6.2%, sitting between its 50-day average of $44.18 and 200-day average of $37.88. The GekkoIndex reads 62.2, placing the stock in the Accumulation zone, up 13.1 over five periods. Gekko Fair Value stands at $74.84, leaving price 42.8% below that level.

The next earnings date falls on 3 February 2027, 90 days out and beyond a typical 20-trading-day swing window. Smart-money and options data show no insider, Congress, or unusual options activity in their respective windows. Seasonality skews unfavorable here, with the next 20 trading days averaging -2.5% over five years, positive in just 1 of those years. Analyst views are split, with 5 firms covering the stock, 1 buy, 2 hold, and 2 sell, and a consensus target of $40.71.

Written by AI from the Nov 4, 2026 close and checked automatically against the figures on this page.

Equinor price vs fair value

▲$74.84$42.80Nov ’25May ’26Nov ’26
Close $42.80200-day averageGekko Fair Value $74.84

Equinor quick facts

Market cap
$109.6B
P/E ratio
9.4
Forward P/E
10.9
EPS, TTM
$4.82
Revenue, TTM
$120.6B
Profit margin
9.8%
Dividend yield
3.20%
Beta
-0.65
Volume
8.03M avg 4.68M
1-year return
+78.4%
Typical daily move
±4%
Typical 20-day move
±5.6%
50-day average
$44.18
200-day average
$37.88
Next earnings
Feb 3
Shares outstanding
2.37B
52-week range
$22.26$49.08

Equinor swing-trade checklist

Equinor scores 3 supportive, 1 mixed and 1 headwind across the 5 checklist items with data.

Six things swing traders check before a 20-day hold, read from the latest data.

3 supportive1 mixed1 headwind

  • Trendmixed

    Averages disagree

    Close $42.80 sits between the 50-day ($44.18) and 200-day ($37.88) averages, or the averages disagree.

    See the chart
  • GekkoIndexsupportive

    62.2, Accumulation

    Reading 62.2 is in the Accumulation zone.

    See the GekkoIndex
  • Fair valuesupportive

    42.8% below

    Price is 42.8% below Gekko Fair Value (more than 5% below).

    See fair value
  • Smart moneyno data

    No data

    No insider, Congress or unusual options activity in the window.

    See smart money
  • Earnings risksupportive

    Reports in 90 days

    Next report Feb 3, 2027, 90 days away — outside a typical 20-trading-day hold.

    See earnings
  • Seasonalityheadwind

    −2.5% on average

    From this point in the calendar, the next 20 trading days averaged −2.5% over 5 years, rising in 1 of them.

    See seasonality

A description of current data, not a recommendation. How this page works

Equinor stock chart and price history

Equinor closed at $42.80 on Nov 4, 2026, +78.4% over the past year, inside a 52-week range of $22.26 to $49.08.

Close50-day average200-day averageVolume
Equinor share price, past year, with 50-day and 200-day moving averages and volume$25$30$35$40$45$50DecJan 2026FebMarAprMayJunJulAugSepOct42.80

Use the left and right arrow keys to read daily values.

Performance Breakdown

1 month
−0.5%
3 months
+8.5%
6 months
+12.5%
1 year
+78.4%
The full EQNR chart adds GekkoIndex, insider, options, Congress and hedge fund markers, plus TrendCandles™.Open EQNR in Gekko

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About Equinor

Equinor works in the energy field, active both inside Norway and abroad. Its business spans finding and assessing new oil and gas resources, bringing fields into production, and handling the wells and supply work that go with them. Alongside this, the company builds out renewable energy activities, including offshore wind, green hydrogen, storage, and solar.

The company is structured into separate segments covering exploration and production in Norway, international markets, and the United States, along with a marketing, midstream and processing arm and a renewables division. Beyond producing oil and gas, it markets, trades, and moves crude oil, condensate, natural gas, NGLs and refined products, running refineries, terminals and processing plants. It also trades power and emissions, builds transport infrastructure such as pipelines and shipping and rail links for gas and liquids, and offers services aimed at reducing carbon output.

Equinor is headquartered in Stavanger, Norway, and traces its incorporation back to 1972; it was previously named Statoil ASA before adopting its current name in 2018. Its shares trade under the ticker EQNR.

Sector
Energy minerals
Website
equinor.com

Equinor GekkoIndex: the smart money zone

Equinor’s GekkoIndex — Gekko’s 0 to 100 smart money score — reads 62.2, in the Accumulation zone, up 13.1 points over five sessions.

010062.2Accumulation

Up 13.1 points over five sessions, from the Neutral zone.

Reading for Nov 4, 2026

What followed past readings in each zone

ZoneReadings5 days10 days20 days50 days
Buying22+1.7%+5.2%+12.2%+20.0%
Accumulation (current zone)216+1.0%+1.8%+3.0%+4.3%
Neutral379+0.1%+0.1%+0.6%+4.8%
Distribution33+2.2%+4.6%+4.7%+3.1%
Selling0Not available

Average EQNR share-price change over the trading days after each daily reading in its GekkoIndex history. Across every stock Gekko tracks, Accumulation readings averaged +2.0% over 20 days. Past behaviour doesn’t guarantee future results.

Accumulation zone: Institutional interest building. About the five zones →

See every daily GekkoIndex reading plotted over the EQNR price, zone by zone.Track EQNR in Gekko

Is Equinor stock overvalued? Gekko Fair Value

Equinor trades 42.8% below Gekko Fair Value of $74.84, so the shares are undervalued on Gekko’s estimate.

Gekko’s own estimate of what Equinor shares are worth, recalculated every trading day.

$74.84

Gekko Fair Value, Nov 4, 2026

42.8% Undervalued

At the end of Aug 2026 the price was 19.5% above the estimate.

Gekko Fair ValueShare price, month end
$75$46Aug 2026SepOctNov 2026

How Gekko Fair Value works →

Gekko Fair Value on every chart, with the gap to price updating daily.Open EQNR in Gekko

Equinor insider and Congress trading

No open-market insider purchases were filed for Equinor, and no Congress trades were disclosed, in the last 90 days.

Plus buybacks, unusual options and fund positions, each dated to when it became public.

Insider buying last 90 days

No open-market insider purchases were filed for EQNR in the last 90 days.

From Form 4 filings, dated to when each was filed.

Every EQNR insider filing, plotted on the chart in Gekko.Open EQNR in Gekko

Congress trades last 90 days

No trades in EQNR were disclosed by members of Congress in the last 90 days.

From congressional disclosures, which report amounts as ranges.

Congress disclosures for EQNR, plotted on the chart in Gekko.Open EQNR in Gekko

Buybacks

Equinor has been buying back its own shares.

Bought back, quarter ended Sep 30, 2026
$3.14B
As a share of market cap
2.86%
Trailing four quarters
$3.88B

From company filings.

Equinor earnings: next date and track record

Equinor reports on Feb 3, 2027 (90 days away), and beat the EPS estimate in 2 of its last 8 reports.

2 of 8reports beat the EPS estimate
±4.1%average move across the report
4 of 8reports followed by a gain

Share-price move across each report

−6.9%Feb ’25−3.3%Apr ’25+0.3%Jul ’25−0.5%Oct ’25+0.5%Feb ’26−10.8%May ’26+9.0%Jul ’26+1.1%Oct ’26

Last earnings call, Oct 28, 2026 AI summary

What they said
Equinor reported Q3 2026 adjusted operating income of $12.4 billion before tax, nearly double year-over-year, with cash flow from operations of $8.1 billion ($21.8 billion year-to-date). Production grew 2% in Q3 and ~5% year-to-date. Mongstad refinery delivered record results. Strategic moves include acquiring a stake in Lackawanna Energy Center, bringing Shell into Bay Du Nord, and new exploration in Angola, Brazil, and Namibia. Board approved $0.39/share quarterly dividend and $1.13 billion share buyback tranche.
Guidance
Full-year production growth guidance raised from 3% to ~4%. Total 2026 share buybacks increased to $3 billion. Empire Wind first power now expected H1 2027, slightly delayed, with no change to total CapEx or ITC recognition timing.
ReportedEPSSurpriseRevenueSurpriseMove
Oct 28, 2026$1.20
est $1.38
−13.0%$33.19B
est $33.30B
−0.3%+1.1%
Jul 22, 2026$1.33
est $1.39
−4.3%$34.52B
est $34.03B
+1.5%+9.0%
May 6, 2026$1.48
est $1.01
+46.5%$27.84B
est $28.73B
−3.1%−10.8%
Feb 4, 2026$0.81
est $0.60
+35.0%$25.30B
est $22.06B
+14.7%+0.5%
Oct 29, 2025$0.37
est $0.57
−35.1%$26.02B
est $21.36B
+21.8%−0.5%
Jul 23, 2025$0.64
est $0.66
−3.0%$25.29B
est $23.26B
+8.7%+0.3%
Apr 30, 2025$0.66
est $0.83
−20.5%$29.38B
est $24.76B
+18.7%−3.3%
Feb 5, 2025$0.63
est $0.82
−23.2%$26.54B
est $24.97B
+6.3%−6.9%

“Move” is the close of the first session after the report compared with the close of the last session before it, so it reads the same whether the company reported before the open or after the close.

Equinor stock forecast and analyst price targets

Analysts’ average 12-month price target for Equinor is $40.71, −4.9% from the last close, from 5 firms rating the stock in the last 90 days.

$40.71consensus 12-month target, −4.9% from the last close
Low $39.75High $52.08
Buy1
Hold2
Sell2

Each firm’s latest rating in the last 90 days: 5 firms.

Latest analyst actions

DateFirmRatingTargetvs price
Oct 30Bank of America SecuritiesBuy, reiterated$52.08+21.7%
Oct 29Goldman SachsSell, maintained$40.15−6.2%
Oct 29Bank of America SecuritiesBuy, reiterated——
Oct 28DZ BANK AGHold, downgraded——
Oct 16Bank of America SecuritiesBuy, reiterated$50.91+18.9%
+3.0%average 20-day move after past Accumulation readings
−2.5%average move over the next 20 trading days in the last 5 years
±4%typical daily move, from the 14-day average range

Gekko doesn’t publish price predictions. These are analyst targets and historical base rates, which don’t guarantee future results.

Equinor seasonality: the next 20 trading days

Over the next 20 trading days from Nov 4, Equinor averaged −2.5% across the last 5 years, rising in 1 of them.

Next 20 trading days, by year

−3.5%2021−4.1%2022−9.0%2023+4.3%2024−2.4%2025

Average move and hit rate

WindowAverageYears higher
Next 5 trading days−1.3%2 of 5
Next 10 trading days−1.6%3 of 5
Next 15 trading days−2.6%1 of 5
Next 20 trading days−2.5%1 of 5
Next 30 trading days−3.0%1 of 5

For scale, EQNR’s typical 20-trading-day move in either direction is about 5.6%.

Equinor market cap and key statistics

Equinor’s market cap is $109.6B, with a P/E ratio of 9.4 and revenue of $120.6B over the last twelve months.

Valuation

Market cap
$109.6B
P/E ratio
9.4
Forward P/E
10.9
EPS, TTM
$4.82
Gekko Fair Value
$74.84

Trading

Volume
8.03M
Avg volume, 20 days
4.68M
52-week high
$49.08
52-week low
$22.26
Shares outstanding
2.37B

Financials

Revenue, TTM
$120.6B
Profit margin
9.8%
Return on equity
27.6%
Quarterly earnings growth, YoY
+298.0%

Risk and income

Beta
-0.65
Typical daily move
±4%
Typical 20-day move
±5.6%
Dividend yield
3.20%

Equinor stock news this week

Coverage of Equinor this week reads positive: 9 positive, 3 neutral and 2 negative headlines.

News sentiment positive

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Reporting earnings this week

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Equinor stock FAQ

What is Equinor’s market cap?

Equinor’s market cap is $109.6B at the Nov 4, 2026 close of $42.80, with 2.37B shares outstanding. The shares trade on a P/E ratio of 9.4.

What is the Equinor stock forecast?

The consensus analyst 12-month price target for Equinor is $40.71, −4.9% from the last close. Of the 5 firms that rated the stock in the last 90 days, 1 rate it a buy, 2 a hold and 2 a sell. Gekko doesn’t publish price predictions of its own.

Is Equinor stock overvalued or undervalued?

On Gekko’s estimate Equinor is undervalued: the Nov 4, 2026 close of $42.80 is 42.8% below Gekko Fair Value of $74.84. Gekko Fair Value is recalculated every trading day, and a gap inside 5% either way counts as about fair value.

When does Equinor report earnings next?

Equinor is expected to report on Feb 3, 2027 (90 days away). Analysts expect earnings of $1.89 per share on revenue of $40.06B. Equinor beat the earnings estimate in 2 of its last 8 reports, moving 4.1% on average across the report.

What is Equinor’s 52-week high and low?

Equinor’s 52-week high is $49.08 and its 52-week low is $22.26; it closed at $42.80 on Nov 4, 2026, +78.4% over the past year.

Is Equinor stock a buy right now?

Gekko describes the data; it does not make buy or sell recommendations. On the swing-trade checklist, 3 of the 5 items with data read as supportive (gekkoindex, fair value and earnings risk), 1 as mixed (trend) and 1 as a headwind (seasonality). The checklist is a description of current data, not a recommendation.

How this page works

During US trading hours the price at the top of the page is a delayed quote, refreshed every 15 minutes; everything else is rebuilt after each US market close. The GekkoIndex, Gekko Fair Value and the checklist are Gekko’s own, and the Gekko Brief is written by AI from this page’s data and checked against it before it is published. How Gekko’s data works →

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