Core Viewpoint - Equinor ASA's 2024 annual report highlights the company's strong operational and financial performance amidst unpredictable energy markets, emphasizing the dual focus on current energy production and future energy system development [1]. Financial Performance - Adjusted operating income for 2024 was USD 29.8 billion, with adjusted net income at USD 9.18 billion. Net operating income was USD 30.9 billion and net income was USD 8.83 billion [3]. - The return on average capital employed (RoACE) was 21% for 2024, with organic capital expenditures totaling USD 12.1 billion [5]. - Equinor contributed significantly to society through taxes, paying USD 20.6 billion in corporate income taxes, of which USD 19.7 billion was in Norway [6]. Operational Performance - Equity production of liquids and gas was 2,067 mboe per day in 2024, consistent with the previous year. Renewable power equity production increased by 51% to 2,935 GWh [4]. - The average upstream CO2 intensity of Equinor's operated portfolio improved to 6.2 kg of CO2 per boe in 2024, down from 6.7 kg in 2023 [14]. Safety and Sustainability - The Serious Incident Frequency (SIF) for 2024 was 0.3, a decrease from 0.4 in 2023, although the year was marked by a tragic helicopter accident [2]. - Equinor achieved a 5% reduction in operated scope 1+2 greenhouse gas emissions, totaling 11.0 million tonnes CO2 equivalents, representing a 34% reduction from 2015 [13]. Strategic Developments - The company maintained a consistent growth strategy, focusing on high-grading its portfolio and positioning for stronger growth and cash flow [7]. - In 2024, Equinor continued to develop its portfolio on the Norwegian continental shelf with 39 new licenses and project approvals [8]. - The international upstream portfolio saw exits from Nigeria and Azerbaijan, while acquisitions were made in US Onshore gas assets [9]. Renewable Energy Initiatives - Equinor advanced its renewables portfolio despite market challenges, with significant progress on the Dogger Bank offshore wind farm and the commencement of production at solar plants in Brazil [10]. - The company acquired a 10% stake in Ørsted, enhancing its exposure to offshore wind projects [11]. Carbon Management - Notable progress was made in carbon transport and storage, with the completion of the Northern Lights project in Norway and the initiation of carbon capture and storage projects in the UK [12].

Group 1: Company Overview - Equinor ASA (EQNR) is a Norwegian integrated energy company that has received a drilling permit from the Norwegian Offshore Directorate (NOD) to drill two wildcat wells in production license (PL) 554 [1] - Equinor holds a 40% stake in PL 554, with partners Aker BP and Vår Energi each holding 30% [2] - The company has contracted the Deepsea Atlantic semi-submersible rig for the drilling activities, which are scheduled to commence in April 2025 [2] Group 2: Rig and Drilling Details - The Deepsea Atlantic rig, built in 2009, is a sixth-generation drillship designed for deepwater operations in harsh environments [3] - Equinor has extended the contract for the Deepsea Atlantic rig, ensuring its availability until 2027 [3] - The rig has previously been involved in several drilling campaigns for Equinor, including a recent gas and condensate discovery in the "Mistral Sor" exploration well [4] Group 3: Market Position and Comparisons - EQNR currently holds a Zacks Rank of 3 (Hold), indicating a neutral outlook [5] - Comparatively, Archrock Inc. has a Zacks Rank of 1 (Strong Buy), while Eni SpA and NextDecade Corporation both hold a Zacks Rank of 2 (Buy) [5] - Archrock focuses on midstream natural gas compression services, generating stable fee-based revenues [6] - Eni is a leading global integrated energy company with a strong emphasis on liquefied natural gas (LNG), which is expected to play a significant role in the energy transition [7] - NextDecade is an emerging player in the LNG market, focusing on expanding its liquefaction capacity to meet rising global demand for natural gas [8]

Core Viewpoint - Equinor ASA (EQNR) is currently undervalued compared to industry peers, trading at a trailing 12-month EV/EBITDA of 1.44x, significantly lower than the industry average of 3.56x and major competitors like BP and Shell [1] Group 1: Company Overview - Equinor is a global leader in oil, gas, renewables, and low-carbon solutions, committed to net zero by 2050 and leveraging 50 years of expertise in the energy transition [4] - The company is recognized as the world's premier offshore operator and is focused on delivering resilience amid market volatility [4] Group 2: Production and Financial Outlook - Equinor has increased its production outlook, expecting over 10% growth in oil and gas production from 2024 to 2027, targeting 2.2 million barrels per day by 2030 [5] - The company anticipates generating $23 billion in free cash flow over the next three years, achieved through portfolio optimization and cost-cutting measures [6] Group 3: Capital Distribution and Strategy - The board has approved a total capital distribution of $9 billion for 2025, including a quarterly cash dividend increase and $5 billion in share buybacks, demonstrating a strong commitment to shareholder returns [7] - Equinor maintains a robust low-carbon strategy, with an industry-leading emissions reduction target of 50% by 2030 and advancing carbon capture and storage projects [8][9] Group 4: Stock Performance and Investment Potential - Despite a slight stock dip of 0.4% over the past year, EQNR has outperformed the industry's 7.1% decline, indicating an attractive entry point for investors [10] - Wall Street's average price target suggests a potential 26.9% increase from the recent closing price, with the highest target indicating a possible gain of 45.8% [12]

Core Insights - Zacks Premium offers various tools for investors to enhance their stock market strategies and confidence [1] - The Zacks Style Scores are designed to help investors select stocks with the highest potential to outperform the market in the short term [2] Zacks Style Scores Overview - The Style Scores categorize stocks into four types: Value Score, Growth Score, Momentum Score, and VGM Score, each focusing on different investment strategies [3][4][5][6] - Value Score identifies undervalued stocks using financial ratios [3] - Growth Score assesses stocks based on their future earnings and financial health [4] - Momentum Score tracks price trends to identify optimal buying opportunities [5] - VGM Score combines all three styles to provide a comprehensive evaluation of stocks [6] Zacks Rank and Performance - The Zacks Rank is a proprietary model that uses earnings estimate revisions to identify stocks likely to perform well [7] - Stocks rated 1 (Strong Buy) have historically achieved an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [8] - Investors are encouraged to select stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B for optimal investment potential [9] Company Spotlight: Equinor ASA - Equinor ASA, based in Norway, is a leading integrated energy company with operations in 30 countries and is the second-largest natural gas supplier in Europe [11] - The company reported estimated proved reserves of 5.571 billion barrels of oil equivalent at the end of 2024, an increase of 358 million Boe from 2023 [11] - Equinor holds a Zacks Rank of 2 (Buy) and a VGM Score of B, with a Value Style Score of A due to a forward P/E ratio of 6.72 [12] - Recent analyst revisions have increased the earnings estimate for fiscal 2025, with the Zacks Consensus Estimate rising by $0.32 to $3.46 per share [12] - With strong rankings and favorable Style Scores, Equinor is positioned as a compelling investment opportunity [13]

Investment Thesis - Equinor (NYSE: EQNR) is positioned as a strong investment opportunity for the year due to increasing natural gas prices in Europe, indicating a trend with sustainability [1] Company Strategy - The company plans to reduce investments, which may impact its future growth trajectory [1]

Core Points - Equinor ASA announced an ordinary cash dividend of USD 0.35 per share and an extraordinary cash dividend of USD 0.35 per share for the third quarter of 2024, totaling USD 0.70 per share [1][2] - The NOK cash dividend per share is calculated based on the average USDNOK fixing rate from Norges Bank, which was 11.1820 for the relevant period, resulting in a NOK dividend of 7.8274 per share [2] - The cash dividend will be paid on 28 February 2025 to shareholders on Oslo Børs and to holders of American Depositary Receipts (ADRs) on the New York Stock Exchange [2]

Group 1 - The correction of the stock market announcement (SMA) was made due to an incorrect date for the announcement of the dividend per share in NOK [1] - Equinor ASA will pay a cash dividend of 0.35 USD for the third quarter of 2024, which includes both an ordinary and an extraordinary cash dividend of 0.35 USD each [2] - The last day to include rights for the dividend is 12 February 2025, with the ex-dates set for 13 February 2025 on Oslo Børs and 14 February 2025 on the New York Stock Exchange [2] Group 2 - The record date for the dividend payment is 14 February 2025, and the payment date is scheduled for 28 February 2025 [2] - The date for the announcement of the cash dividend per share in NOK will be communicated on 20 February 2025 [2] - This information is published in accordance with the Continuing Obligations and the disclosure requirements of the Norwegian Securities Trading Act [3]

Core Viewpoint - Equinor (EQNR) is currently positioned as a more attractive investment compared to Phillips 66 (PSX) based on various valuation metrics and analyst outlooks [1][3]. Valuation Metrics - EQNR has a forward P/E ratio of 7.13, significantly lower than PSX's forward P/E of 18.47, indicating that EQNR may be undervalued [5]. - The PEG ratio for EQNR is 0.61, while PSX has a PEG ratio of 4.62, suggesting that EQNR offers better value relative to its expected earnings growth [5]. - EQNR's P/B ratio stands at 1.54, compared to PSX's P/B of 1.74, further supporting the notion that EQNR is a more favorable investment option [6]. Analyst Ratings - EQNR holds a Zacks Rank of 2 (Buy), reflecting a positive earnings estimate revision trend, while PSX has a Zacks Rank of 5 (Strong Sell), indicating a less favorable outlook [3][6]. - The Value grade for EQNR is A, whereas PSX has a Value grade of D, highlighting the superior valuation characteristics of EQNR [6].

Core Points - Equinor ASA shares will be traded on the Oslo Stock Exchange excluding the third quarter 2024 cash dividend starting today [1] - The ex-dividend date is set for February 13, 2025 [1] - The ordinary cash dividend amount is $0.35 and the extraordinary cash dividend amount is also $0.35, both announced in USD [1]

Core Viewpoint - Equinor ASA has initiated a share buy-back program, purchasing a total of 1,200,000 shares at an average price of NOK 266.0754 per share from February 6 to February 7, 2025, with a total transaction value of NOK 319,290,480 [1][2]. Summary by Sections Share Buy-Back Program - The first tranche of the 2025 share buy-back program was announced on February 5, 2025, and will last until no later than April 2, 2025 [1]. - The total number of shares repurchased during this tranche is 1,200,000 [2]. Transaction Details - On February 6, 2025, Equinor purchased 600,000 shares at a weighted average price of NOK 269.0584, totaling NOK 161,435,040 [2]. - On February 7, 2025, another 600,000 shares were purchased at a weighted average price of NOK 263.0924, amounting to NOK 157,855,440 [2]. - The overall average price for the shares bought back during this period is NOK 266.0754 [2]. Ownership Post Transactions - Following the completion of these transactions, Equinor ASA now owns a total of 69,743,662 shares, representing 2.50% of its share capital [2]. - Excluding shares under Equinor's share savings program, the company owns 62,356,027 shares, which corresponds to 2.23% of the share capital [2]. Regulatory Compliance - The information disclosed is in accordance with the EU Market Abuse Regulation and the Norwegian Securities Trading Act [3].