Norway's Aker BP Q2 net profit rises on higher oil prices
Norway's Aker BP Q2 net profit rises on higher oil prices
Overview
Norway oil and gas producer's Q2 net profit rose to $521 mln, supported by higher oil prices
Company narrowed full-yr production guidance to 380–400 mboepd, raising the lower end
Major development projects remain on track, with milestones reached at Yggdrasil and Valhall PWP–Fenris
Outlook
Aker BP narrows 2026 full-year production guidance to 380–400 mboepd, raising the lower end
Company says major development projects remain on track for first production in 2027
Result Drivers
HIGHER OIL PRICES - Co said strong financial results were supported by higher realised oil prices
OPERATIONAL PERFORMANCE - High-performing producing hubs and efficient operations contributed to portfolio resilience
PROJECT MILESTONES - Progress on major development projects, including Yggdrasil and Valhall PWP–Fenris, supported results
Company press release: ID:nWkr5KWsFs
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Income |
| $521 mln |
|
Q2 Dividend per share |
| $0.6615 |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 10 "hold" and 4 "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy."
Wall Street's median 12-month price target for Aker BP ASA is NOK325.00, about 0.2% above its July 14 closing price of NOK324.40
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 17 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)