In the weekend mentioned DN that Øystein Stray Spetalen had recently bought 190,000 shares in Equinor, a holding that was then the only Equinor shares Spetalen had.
The shares were bought through Spetalen’s investment company Tycoon Industrier, and new shareholder lists now show that Spetalen has bought a further 100,000 shares in Equinor.
In total, the 290,000 shares are worth NOK 87.9 million given Monday’s closing price. It is not known what prices Spetalen actually bought the shares for.
It should also be specified that the shareholder lists arrive with a delay of a couple of days, which means that Spetalen may have both sold off or bought more Equinor shares without it appearing in the shareholder lists on Tuesday morning. The changes in the shareholder lists can also stem from other financial transactions.
Fall with oil and gas prices
When trading closed at the Oslo Stock Exchange on Monday, the Equinor share traded at NOK 303.2, the lowest level since mid-July last year.
After reaching what is currently an all-time high at the end of August, at the same time as gas prices in Europe were at their most extreme, the company’s share price in general has moved rather sideways – until a few weeks ago.
The Equinor share has indeed fallen by less than 15 per cent since Christmas, and somewhat more than 11 per cent since the New Year, partly induced by the fact that the spot market price for gas in Europe, measured by the Dutch TTF index, has fallen sharply.
Said gas price stands at 55 euros per megawatt hour, a price not seen since September 2021, right at the start of Russia’s tapering of gas exports to Europe.
– Interesting investment case
Much of the fall in Equinor shares came in a handful of days right after the new year, parallel to the fact that the price of oil, measured by Brent spot, fell by more than nine per cent. Since then, the oil price has recouped almost all of what was lost, while the Equinor share has fallen a couple of percent further.
Just over a week ago, at almost the same share price now, share manager Leif Eriksrød at Alfred Berg said that the share was priced very low and that not much was needed before
– At the same time, the direction of the oil price is important, so I don’t think you should necessarily expect anything in the short term. But the oil sector is clearly still an interesting investment case, said Berg.
It appears from the shareholder lists that Spetalen has reached the same conclusion.(Terms)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using links, which lead directly to our pages. Copying or other forms of use of all or part of the content may only take place with written permission or as permitted by law. For additional terms se her.