WallStSmart
EQNR

Equinor ASA ADR

NYSE: EQNR · ENERGY · OIL & GAS INTEGRATED

$40.75
+1.70% today

Updated 2026-04-30

Market cap
$94.55B
P/E ratio
19.56
P/S ratio
0.89x
EPS (TTM)
$1.94
Dividend yield
4.11%
52W range
$21 – $43
Volume
8.1M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Equinor ASA ADR (EQNR) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$40.75
Consensus
$36.05
-11.53%
2030 Target
$638.78
+1467.56%
DCF
$54.27
+47.34% MoS
30 analysts:
0 Buy3 Hold4 Sell

Management guidance

No specific CEO revenue targets for 2026-2030 found in provided data. Company has guided production growth through new projects (Raia $9B project launching 2028, Johan Castberg field development), but no explicit revenue floor/ceiling stated. Guidance is project-based rather than revenue-based.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$1,060.45
$132.4B Rev × 20x P/S
Base case (2030)
$638.78
$132.4B Rev × 12x P/S
Bear case (2030)
$425.85
$132.4B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2030 (E)
Revenue$106.8B$102.5B$106.2B$115.1B$113.5B$118.6B$132.4B
Revenue growth—-4.1%3.6%8.6%-1.4%4.5%5.2%
EPS$3.41$3.22$2.78$2.70$2.95$3.20$3.70
P/S ratio———12.0x12.0x12.0x12.0x
Implied price———$555.28$546.92$571.98$638.78

Catalysts & risks

Growth catalysts
+ Raia project production ramp (2028 launch, ~15% of Brazil gas supply, $9B investment)
+ Johan Castberg field development and production growth in North Sea
+ Geopolitical tension supporting oil/gas prices (Strait of Hormuz tensions mentioned Mar 2026)
+ Brazil renewable energy expansion (230MW wind acquisition Mar 2026)
+ Disciplined capital allocation and shareholder returns (ongoing $1B+ buyback program)
Key risks
- Energy transition risk: long-term decarbonization targets (net-zero 2050) may pressure oil/gas revenue
- Commodity price volatility: oil/gas prices highly sensitive to geopolitical events and macro cycles
- Regulatory risk: Norwegian and international energy regulations increasingly stringent on emissions
- Production decline at key fields (Johan Sverdrup flagged 10-20% output decline in 2026)
- Analyst sentiment deteriorating (multiple downgrades 2025: JPMorgan, Barclays, Morgan Stanley to Underweight/Hold)

Methodology

Equinor ASA ADR's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 30 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 6, 2026.