Equinor's Afrodite Estimate Doubles as DZ Bank Turns Cautious on the Shares
Published on 10/29/2026 at 13:32 | Editorial boerse-global.de
Equinor has kicked off the fourth and final tranche of its 2026 share buyback programme today, with the remaining portion covering stock to be repurchased from the Norwegian state. The tranche runs until 1 February 2027 at the latest, and up to USD 371.3 million of it will go toward open-market purchases, according to company statements.
The launch follows completion of the programme's third phase on 22 October. Alongside the buybacks, the Norwegian energy major declared a cash dividend of USD 0.39 per share for the third quarter of 2026, payable on 26 February 2027.
Output Guidance Raised, but DZ Bank Steps Back
On the same day it reported quarterly results, Equinor lifted its production forecast: oil and gas output is now expected to grow by around 4% in 2026, up from the 3% previously guided. The third quarter itself delivered an adjusted operating result of USD 12.35 billion and net profit of USD 2.54 billion, with adjusted earnings per share of USD 1.20.
Not everyone read the update as a reason to buy. DZ Bank downgraded Equinor from "Buy" to "Hold" yesterday, per Bloomberg, with the analysis attributed to Werner Eisenmann. Investors nonetheless nudged the stock higher on the day, and the shares closed at EUR 42.40, a gain of 0.6%.
Should investors sell immediately? Or is it worth buying Equinor?
Afrodite Resource Estimate More Than Doubles
A fresh exploration update arrived today, and it was a big one. Following appraisal drilling, Equinor now puts recoverable volumes at the Afrodite discovery near Kvitebjørn at 77 to 180 million barrels of oil equivalent — more than double the previous estimate, according to the company. Equinor considers the find commercially viable and intends to study a possible subsea tie-back.
The company also struck a strategic agreement with Aker BP on Monday covering tight reservoirs on the Norwegian continental shelf. The partners will pursue technology development, standardisation and cooperation to unlock such deposits.
Opedal Warns of Another Gas Price Spike
Chief executive Anders Opedal, cited by Reuters, cautioned yesterday that Europe's gas market could face another price spike. Cold weather may lift demand, while depleted storage and competition for LNG cargoes threaten supply. Storage levels, he said, stand at their lowest for this time of year since 2011.
Equinor at a turning point? This analysis reveals what investors need to know now.
Equinor has already moved to free up extra volumes. On 15 October it agreed a project change with the Troll licence partners under which the second planned electric export compressor at Troll C will not be installed — making roughly 2.3 billion standard cubic metres of additional gas available to the European market in 2027 and 2028.
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Equinor Stock: New Analysis - 29 October
Fresh Equinor information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
