- (PLX AI) - Equinor shares are down 3% despite an earnings beat and increased share buyback, as traders took profits after a 3-month gain.
- • Equinor Q3 net operating income was USD 9,570 million vs. estimate USD 7,400 million, and the share buyback was increased to USD 1 billion from US 300 million
- • Shares have been gaining for months as the company is benefitting from the soaring natural gas price
- • However, it must be assumed that there might be losses to match the extraordinary gains in Q3 over the next 2 quarters, and there is a high-probability of profit-taking today, analysts at Kepler Cheuvreux said
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