Equinor ASA: Is It A Buy?

By Johnny Hopkins of Acquirer's Multiple

Sunday, November 10, 2024 10:15 AM EST

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Image Source: Unsplash

As part of our ongoing series here at The Acquirer’s Multiple, each week we focus on one of the stocks from our Stock Screeners, and why it’s a ‘buy’ based on key fundamentals.

One of the cheapest stocks in our Stock Screeners is:

Equinor ASA (EQNR)

Equinor is a Norway-based integrated oil and gas company. It has been publicly listed since 2001, but the government retains a 67% stake. Operating primarily on the Norwegian Continental Shelf, the firm produced 2.1 million barrels of oil equivalent per day in 2023 (53% liquids) and ended 2023 with 5.2 billion barrels of proven reserves (49% liquids). Operations also include offshore wind, solar, oil refineries and natural gas processing, marketing, and trading.

A quick look at the share price history (below) over the past twelve months shows that the price is down 26.62%. Here’s why the company is undervalued.