JPMorgan raises target for Equinor stock from NOK 360 to NOK 400

Published on 10/09/2026 at 11:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Gullfaks adds 3.3 to 10.3 million barrels of oil equivalent. Equinor stock costs EUR 38.11 on October 9, 2026 versus EUR 38.28, minus 0.44 percent.

Key points in brief

JPMorgan raised its Equinor price target from NOK 360 to NOK 400 on October 8, 2026, while retaining an Underweight rating.
Equinor reported a Gullfaks South discovery estimated at 3.3 to 10.3 million barrels of oil equivalent.
Equinor stock was at EUR 38.11 at Lang & Schwarz on October 9, 2026, down 0.44 percent versus the prior close.

Fotorealistische Offshore-Ölplattform in rauer Nordsee mit Versorgungsschiff — Equinor ASA (NO0010096985) fördert Öl und Gas auf einer typischen Offshore-Plattform in der stürmischen Nordsee, Illustration mit AI erstellt.

Equinor (ISIN NO0010096985) was trading at EUR 38.11 at Lang & Schwarz on October 9, 2026 at 11:17 a.m. CEST, down 0.44 percent versus the prior close of EUR 38.28. On October 8, JPMorgan raised its price target for Equinor from NOK 360 to NOK 400 while keeping an Underweight rating, according to Markets Insider.

Gullfaks discovery adds resource depth

Equinor and its partners discovered gas at Gullfaks South on October 8, 2026. The find is estimated at 3.3 to 10.3 million barrels of oil equivalent, according to Equinor.

The discovery sits within the Gullfaks production license and has the same ownership structure as the field. Its scale gives Equinor an additional resource point in an established operating area rather than a stand-alone frontier project.

What does the gas find add?

The operating backdrop was already substantial in the second quarter of 2026. Equinor reported adjusted operating income of USD 11.5 billion and IFRS net income of USD 4.8 billion, while production reached 2.165 million barrels per day, up 3 percent from the same quarter of 2025, according to Yahoo Finance.

Three milestones lead to October

On July 6, 2026, Equinor agreed to acquire bp's interest in Bay du Nord, raising its ownership to 100 percent. On August 17, 2026, it agreed to acquire an interest in the 1,483 MW Lackawanna Energy Center. On October 8, 2026, the Gullfaks South discovery added the 3.3 to 10.3 million barrels of oil equivalent; Equinor lists these milestones on its investor relations page.

Results and dividend dates are set

Equinor's next scheduled reporting event is the third-quarter 2026 results conference on October 28, 2026. The next listed ex-dividend date is November 13, 2026 for the Oslo listing, followed by the next payment on November 25, 2026, according to the company's investor calendar.

Stock trades below the prior close

At Lang & Schwarz, Equinor stock was trading at EUR 38.11 on October 9, 2026 at 11:17 a.m. CEST, down 0.44 percent versus the EUR 38.28 prior close on October 8, 2026. The primary listing is on Oslo Børs, where Equinor trades under EQNR and is classified as an integrated oil and gas company.

The further course of trading is shown by the continuously updated real-time quote of Equinor stock.