DNO (DNO) Stock Overview
Engages in the exploration, development, and production of oil and gas assets in the Middle East, the North Sea, and West Africa. More details
| Snowflake Score | |
|---|---|
| Valuation | 6/6 |
| Future Growth | 5/6 |
| Past Performance | 0/6 |
| Financial Health | 3/6 |
| Dividends | 3/6 |
Rewards
Risk Analysis
DNO Community Fair Values
Create NarrativeSee what 27 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
DNO ASA Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | NOK 17.43 |
| 52 Week High | NOK 21.96 |
| 52 Week Low | NOK 12.42 |
| Beta | -0.19 |
| 1 Month Change | -12.63% |
| 3 Month Change | -10.84% |
| 1 Year Change | 26.30% |
| 3 Year Change | 82.32% |
| 5 Year Change | 68.41% |
| Change since IPO | 298.55% |
Recent News & Updates
Narrative Update • Jun 22
DNO: Norwegian Shelf Deal And New Fields Will Support Future Upside
Analysts have nudged their price target on DNO to NOK 20.0. This reflects small adjustments to the discount rate, revenue growth, profit margin and a slightly lower assumed future P/E multiple in their updated models. What’s in the News for DNO DNO ASA has completed a multi asset transaction with Vår Energi ASA, adding a 5% stake in the Gjøa field and the Gjøa Nord discovery, while reducing its holding in the Nova subsea field from 45% to 40% and exiting its 15% interest in the Ringhorne Nord discovery.Analysis Article • Jun 20
DNO (OB:DNO) Stock Could Be 23.1% Undervalued After Vår Energi Deal
DNO (OB:DNO) shares moved after the company announced a multi-asset deal with Vår Energi that reshapes its Norwegian portfolio, including a new 5% stake in the offshore Gjøa hub and related assets. See our latest analysis for DNO. The Vår Energi deal comes after a mixed stretch for DNO's share price, with a 1-day share price return of 2.59% following the announcement contrasting with a 30-day share price return down 12.63%. The 1-year total shareholder return of 38.67% and 5-year total...
Narrative Update • Jun 07
DNO: New North Sea Field Start Up Will Support Future Upside
Analysts have kept their NOK 25.00 price target for DNO unchanged, citing modest adjustments to discount rate assumptions, a shift in expected revenue growth and profit margin, and a slightly lower future P/E estimate. What's in the News DNO reported operating results for the first quarter of 2026, with gross operated production in Kurdistan of 52,800 boepd and in the North Sea of 7,145 boepd, along with net production in the North Sea of 88,647 boepd and in Kurdistan of 39,600 boepd, plus 3,424 boepd of equity accounted production in West Africa.Narrative Update • May 24
DNO: North Sea Production Gains Will Offer Balanced Upside Versus Risk Profile
Analysts now put their average price target for DNO at NOK 20.0 per share, up from NOK 11.1. They cite updated assumptions that include a lower discount rate, reduced revenue growth expectations, a slightly higher profit margin outlook, and a higher future P/E multiple. What's in the News DNO reported operating results for the first quarter of 2026, with gross operated production in Kurdistan at 52,800 boepd and in the North Sea at 7,145 boepd, while net production reached 88,647 boepd in the North Sea and 39,600 boepd in Kurdistan, and equity accounted production in West Africa was 3,424 boepd (Key Developments).Recent updates
Narrative Update • Jun 22
DNO: Norwegian Shelf Deal And New Fields Will Support Future Upside
Analysts have nudged their price target on DNO to NOK 20.0. This reflects small adjustments to the discount rate, revenue growth, profit margin and a slightly lower assumed future P/E multiple in their updated models. What’s in the News for DNO DNO ASA has completed a multi asset transaction with Vår Energi ASA, adding a 5% stake in the Gjøa field and the Gjøa Nord discovery, while reducing its holding in the Nova subsea field from 45% to 40% and exiting its 15% interest in the Ringhorne Nord discovery.Analysis Article • Jun 20
DNO (OB:DNO) Stock Could Be 23.1% Undervalued After Vår Energi Deal
DNO (OB:DNO) shares moved after the company announced a multi-asset deal with Vår Energi that reshapes its Norwegian portfolio, including a new 5% stake in the offshore Gjøa hub and related assets. See our latest analysis for DNO. The Vår Energi deal comes after a mixed stretch for DNO's share price, with a 1-day share price return of 2.59% following the announcement contrasting with a 30-day share price return down 12.63%. The 1-year total shareholder return of 38.67% and 5-year total...Narrative Update • Jun 07
DNO: New North Sea Field Start Up Will Support Future Upside
Analysts have kept their NOK 25.00 price target for DNO unchanged, citing modest adjustments to discount rate assumptions, a shift in expected revenue growth and profit margin, and a slightly lower future P/E estimate. What's in the News DNO reported operating results for the first quarter of 2026, with gross operated production in Kurdistan of 52,800 boepd and in the North Sea of 7,145 boepd, along with net production in the North Sea of 88,647 boepd and in Kurdistan of 39,600 boepd, plus 3,424 boepd of equity accounted production in West Africa.Narrative Update • May 24
DNO: North Sea Production Gains Will Offer Balanced Upside Versus Risk Profile
Analysts now put their average price target for DNO at NOK 20.0 per share, up from NOK 11.1. They cite updated assumptions that include a lower discount rate, reduced revenue growth expectations, a slightly higher profit margin outlook, and a higher future P/E multiple. What's in the News DNO reported operating results for the first quarter of 2026, with gross operated production in Kurdistan at 52,800 boepd and in the North Sea at 7,145 boepd, while net production reached 88,647 boepd in the North Sea and 39,600 boepd in Kurdistan, and equity accounted production in West Africa was 3,424 boepd (Key Developments).Analysis Article • May 14
DNO's (OB:DNO) Solid Earnings Are Supported By Other Strong Factors
Even though DNO ASA's ( OB:DNO ) recent earnings release was robust, the market didn't seem to notice. We think that...Analysis Article • May 11
DNO ASA Just Missed EPS By 48%: Here's What Analysts Think Will Happen Next
Shareholders might have noticed that DNO ASA ( OB:DNO ) filed its first-quarter result this time last week. The early...Narrative Update • May 02
DNO: Rising North Sea Production And Acquisition Optionality Will Support Future Upside
The analyst price target for DNO has increased from NOK 20 to NOK 25. Analysts attribute this change to updated assumptions regarding fair value, discount rate, revenue growth, profit margins and future P/E.
Narrative Update • Apr 18
DNO: North Sea Production Start And Acquisition Capacity Will Drive Upside Potential
Analysts have kept their NOK 22.67 price target for DNO unchanged, making only small adjustments to inputs such as discount rate, revenue growth, profit margin and future P/E to reflect updated assumptions in their models. What's in the News DNO ASA started up the Symra field offshore Norway nine months ahead of schedule, with a 20% stake in a development that is tied back to the Ivar Aasen platform where DNO also holds a 12.3% interest (Product-Related Announcements).Narrative Update • Apr 03
DNO: Stable North Sea Cash Flows And Acquisitions Will Shape Outlook
Analysts have lifted their price target on DNO from NOK 21.00 to about NOK 22.67, citing updated fair value work that reflects slightly adjusted assumptions for the discount rate, revenue growth, profit margin, and future P/E. What's in the News DNO issued production guidance for 2026, expecting net production of 150,000 boepd, split between the North Sea at 82,000 boepd, Kurdistan at 65,000 boepd and West Africa at 3,000 boepd (company guidance).Narrative Update • Mar 20
DNO: Stable North Sea Cash Flows And Acquisitions Will Shape Outlook
Analysts now set a higher price target for DNO at NOK 21.00, up from NOK 18.50. They point to updated assumptions around discount rates, revenue growth, profit margins and future P/E levels.Narrative Update • Mar 06
DNO: Future Production Expansion Will Offer Limited Upside Versus Risk Profile
Analysts have maintained their DNO price target at NOK 11.1, based on updated assumptions that reflect slightly revised discount rates, revenue growth expectations, profit margins and future P/E multiples. What's in the News DNO ASA reported full year 2025 production results, with net production of 110,700 barrels of oil equivalent per day (boepd) and gross production of 79,217 boepd across the North Sea, Kurdistan and West Africa, described as the highest in the company’s 54 year history (Key Developments).Narrative Update • Feb 19
DNO: Slower Growth And Margin Pressure Will Limit Upside From Production Expansion
Analysts have reduced their price target on DNO from NOK 17.50 to NOK 11.10. This reflects updates to their models that now assume more moderate revenue growth, a lower profit margin and a higher future P/E multiple.Narrative Update • Feb 05
DNO: Solid Q3 Delivery And Kurdistan Restart Will Support Future Upside
Analysts have raised their price target on DNO ASA to NOK 17.50 from NOK 14.00, citing what they view as a solid Q3 report and the recent share selloff as key drivers of the revised outlook. Analyst Commentary Bullish analysts are framing the new NOK 17.50 price target as a reset of expectations that better reflects what they see as the company’s recent execution and the current share price level after the selloff.Narrative Update • Jan 21
DNO: Q3 Delivery And Kurdistan Restart Will Support Stronger Production
Narrative Update on DNO Analysts have raised their price target on DNO to NOK 17.50 from NOK 14.00, citing a solid Q3 report, a recent share selloff, and updated assumptions for profit margin and future P/E as the main reasons for the change. Analyst Commentary Bullish analysts are pointing to the recent upgrade and higher price target as a sign of growing confidence in DNO following its Q3 report and the share price pullback.Narrative Update • Jan 06
DNO: Q3 Delivery And New Fields Will Support Stronger Production
Analysts have lifted their fair value estimate for DNO to NOK 20.00 from NOK 19.00, citing updated assumptions on the discount rate, profit margin and future P/E following a "solid" Q3 report and the recent share pullback. Analyst Commentary Bullish Takeaways Bullish analysts have raised their fair value view to NOK 20.00, which they see as better aligned with updated assumptions on discount rate, profit margin and future P/E after the recent Q3 report and share pullback.Narrative Update • Dec 23
DNO: North Sea Production Expansion Will Drive Upside Despite Kurdistan Risks
Analysts have raised their price target on DNO ASA from NOK 12.50 to NOK 17.50, citing improved growth expectations and a more favorable valuation following solid recent results and a pullback in the share price. Analyst Commentary While the latest upgrade and higher price target underscore improving sentiment toward DNO, the overall tone among market watchers remains balanced, with several cautionary flags still in focus.Narrative Update • Dec 09
DNO: Solid Q3 Delivery And Recent Selloff Will Drive Share Rebound
Analysts have raised their price target on DNO to NOK 18.50 from NOK 17.50, reflecting increased confidence in the company after a solid Q3 report and its attractive valuation following the recent share selloff. Analyst Commentary Bullish analysts highlight that the recent upgrade to a Buy rating aligns with improving fundamentals and a supportive valuation backdrop.Narrative Update • Nov 25
DNO: Upgraded Rating And Q3 Performance Will Lift Share Momentum
Analysts have raised their price target for DNO from NOK 18.17 to NOK 18.50. They cite improved confidence after a strong quarterly report and a recent share price correction.Narrative Update • Nov 07
DNO: Resilient Q3 Performance And North Sea Synergies Will Drive Upside
Analysts have raised their price target for DNO from NOK 17.00 to NOK 18.17. This change reflects confidence in the company’s improving financial outlook, following a positive Q3 report and recent market movements.Narrative Update • Sep 05
Sval Energi Deal And North Sea Expansion Will Secure Stability
DNO's fair value has remained unchanged at NOK17.00 despite a sharp increase in its Future P/E ratio, suggesting that rising valuation multiples have been offset by other factors in analysts’ assessments. What's in the News DNO is pursuing bolt-on acquisitions to drive portfolio growth and high-grading, as outlined in its Second Quarter 2025 Earnings Call.Analysis Article • Mar 23
DNO (OB:DNO) Takes On Some Risk With Its Use Of Debt
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
New Narrative • Feb 17
Reopening The Iraqi-Turkish Pipeline Will Increase Future Production Levels
Strategic acquisitions and exploration in the North Sea could drive revenue growth and strengthen earnings.Analysis Article • Oct 09
DNO (OB:DNO) Could Be Struggling To Allocate Capital
Ignoring the stock price of a company, what are the underlying trends that tell us a business is past the growth phase...Analysis Article • Sep 16
What You Can Learn From DNO ASA's (OB:DNO) P/S
When you see that almost half of the companies in the Oil and Gas industry in Norway have price-to-sales ratios (or...Analysis Article • Aug 23
We Think You Can Look Beyond DNO's (OB:DNO) Lackluster Earnings
DNO ASA's ( OB:DNO ) stock was strong despite it releasing a soft earnings report last week. We think that investors...Analysis Article • Aug 19
DNO (OB:DNO) Is Increasing Its Dividend To $0.3125
DNO ASA ( OB:DNO ) has announced that it will be increasing its dividend from last year's comparable payment on the...Analysis Article • Mar 08
It's A Story Of Risk Vs Reward With DNO ASA (OB:DNO)
With a median price-to-sales (or "P/S") ratio of close to 1.3x in the Oil and Gas industry in Norway, you could be...Analysis Article • Feb 13
DNO ASA (OB:DNO) Analysts Are More Bearish Than They Used To Be
The latest analyst coverage could presage a bad day for DNO ASA ( OB:DNO ), with the analysts making across-the-board...Analysis Article • Jan 21
DNO (OB:DNO) Takes On Some Risk With Its Use Of Debt
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Shareholder Returns
| DNO | NO Oil and Gas | NO Market | |
|---|---|---|---|
| 7D | -6.8% | -0.9% | -0.5% |
| 1Y | 26.3% | 25.1% | 12.7% |
Return vs Industry: DNO exceeded the Norwegian Oil and Gas industry which returned 10.7% over the past year.
Return vs Market: DNO exceeded the Norwegian Market which returned 8.7% over the past year.
Price Volatility
| DNO volatility | |
|---|---|
| DNO Average Weekly Movement | 7.0% |
| Oil and Gas Industry Average Movement | 6.8% |
| Market Average Movement | 5.3% |
| 10% most volatile stocks in NO Market | 10.8% |
| 10% least volatile stocks in NO Market | 3.1% |
Stable Share Price: DNO has not had significant price volatility in the past 3 months compared to the Norwegian market.
Volatility Over Time: DNO's weekly volatility (7%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1971 | 1,058 | Chris Spencer | www.dno.no |
DNO ASA engages in the exploration, development, and production of oil and gas assets in the Middle East, the North Sea, and West Africa. The company holds 75% operating interests in the Tawke and Peshkabir fields located in the Kurdistan; and approximately 9% interest in Côte d’Ivoire’s Block CI-27 located in West Africa. It also holds licenses in reservoirs, including in the Cretaceous, Jurassic and Triassic formations; and 129 offshore licenses in Norway, seven offshore licenses in the UK and one offshore license in the decommissioning phase in the Netherlands.
DNO ASA Fundamentals Summary
| DNO fundamental statistics | |
|---|---|
| Market cap | NOK 16.57b |
| Earnings (TTM) | -NOK 47.51m |
| Revenue (TTM) | NOK 18.55b |
0.9x
P/S Ratio-357.7x
P/E RatioIs DNO overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| DNO income statement (TTM) | |
|---|---|
| Revenue | US$1.91b |
| Cost of Revenue | US$1.05b |
| Gross Profit | US$859.00m |
| Other Expenses | US$863.90m |
| Earnings | -US$4.90m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
Aug 13, 2026
| Earnings per share (EPS) | -0.005 |
| Gross Margin | 44.89% |
| Net Profit Margin | -0.26% |
| Debt/Equity Ratio | 98.8% |
How did DNO perform over the long term?
See historical performance and comparisonDividends
8.5%
Current Dividend Yield-2,889%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/19 19:36 |
| End of Day Share Price | 2026/06/19 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
DNO ASA is covered by 21 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | ABG Sundal Collier |
| Rafal Gutaj | BofA Global Research |
| Charlie Sharp | Canaccord Genuity |