Vår Energi ASA

OB:VAR Stock Report

Market Cap: NOK 120.6b

Vår Energi Dividends and Buybacks

Dividend criteria checks 3/6

Vår Energi is a dividend paying company with a current yield of 9.49%. Next payment date is on 12th June, 2026 with an ex-dividend date of 3rd June, 2026.

Key information

9.5%

Dividend yield

n/a

Buyback Yield

Total Shareholder Yieldn/a
Future Dividend Yield7.9%
Dividend Growth12.3%
Next dividend pay date12 Jun 26
Ex dividend date03 Jun 26
Dividend per sharen/a
Payout ratio131%

Recent dividend and buyback updates

Recent updates

Narrative Update • Apr 18

VAR: Higher 2026 Volumes And Rising Production Targets Will Drive Returns

Analysts have adjusted the fair value estimate for Vår Energi to NOK 47.22 from NOK 44.72 as updated revenue growth, profit margin and forward P/E assumptions have shifted, alongside a slightly lower discount rate. Analyst Commentary Recent Street research on Vår Energi shows a mix of optimism and caution, with several price target revisions and rating changes that feed directly into how analysts think about valuation, execution risk and growth potential.
Narrative Update • Apr 03

VAR: Higher 2026 Volumes And Mixed Execution Risks Will Shape Returns

Analysts have raised the implied fair value for Vår Energi from NOK 38.93 to NOK 44.72, citing updated assumptions on growth, margins and future P/E multiples, as well as a mix of both higher and lower price targets in recent research. Analyst Commentary Recent research on Vår Energi shows a split view, with some analysts lifting price targets and ratings while others are taking a more cautious stance with downgrades and lower targets.
Narrative Update • Mar 18

VAR: 2026 Production Targets And Sector Headwinds Will Limit Upside

The updated analyst price target for Vår Energi implies an increase in estimated fair value to about NOK 39 from roughly NOK 38, supported by mixed but generally higher Street targets in a NOK 25 to NOK 44 range as analysts adjust for revised growth, profitability and sector views. Analyst Commentary Recent Street research on Vår Energi shows a split view, with some firms lifting price targets while others cut ratings and targets.
Narrative Update • Mar 04

VAR: Dividends And 2026 Production Plans Will Support Balanced Outlook

The analyst price target for Vår Energi has been revised from NOK 36.44 to NOK 37.52, with analysts citing updated sector views and mixed broker targets ranging from NOK 25 to NOK 40 as key factors behind the change. Analyst Commentary Recent research on Vår Energi reflects a split view, with some analysts lifting price targets and others moving to more cautious stances.
Analysis Article • Feb 17

We Think Vår Energi's (OB:VAR) Profit Is Only A Baseline For What They Can Achieve

The subdued stock price reaction suggests that Vår Energi ASA's ( OB:VAR ) strong earnings didn't offer any surprises...
Analysis Article • Feb 13

Vår Energi ASA Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

The analysts might have been a bit too bullish on Vår Energi ASA ( OB:VAR ), given that the company fell short of...
New Narrative • Jan 28

Future Production And Cost Risks Will Undermine Long Term Norwegian Shelf Ambitions

Catalysts About Vår Energi Vår Energi is an oil and gas producer focused on the Norwegian Continental Shelf with a diversified asset base, significant gas exports and an active program of development and exploration projects. What are the underlying business or industry changes driving this perspective?
Narrative Update • Jan 27

VAR: Dividends And 2028 To 2029 Projects Will Support Balanced Outlook

Analysts have trimmed their price target on Vår Energi from about NOK 38.93 to around NOK 36.44, as updated sector views and a softer oil price outlook feed through to lower assumed fair value and P/E multiples, even while their models reflect adjusted expectations for revenue growth and profit margins. Analyst Commentary Recent research on Vår Energi points to a mixed view, with some focusing on long term sector positioning and others emphasizing valuation risk at current levels.
Narrative Update • Jan 12

VAR: Dividend And New Projects Will Support Stronger 2030 Production Profile

Narrative Update Analysts have nudged their price target on Vår Energi higher, with one recent update moving from NOK 33 to NOK 34. This reflects adjusted views on discount rates, revenue growth, profit margins and future P/E assumptions.
Narrative Update • Dec 15

VAR: Project Pipeline Will Lift 2030 Production 18% Above Market Estimates

Analysts have nudged their price target on Vår Energi slightly higher, reflecting an upward bias from NOK 33 to NOK 34 at the lower end, and a more bullish NOK 46 target, supported by expectations of a steadily expanding project pipeline and production profile through 2030. Analyst Commentary Recent research updates present a mixed but constructive picture, with price targets now clustered in the mid 30s to mid 40s.
Narrative Update • Nov 30

VAR: Production Will Surpass Market Estimates As Project Pipeline Delivers Through 2030

Analysts have slightly increased their price target for Vår Energi, raising it by NOK 0.17 to NOK 38.97. This change is attributed to generally more optimistic outlooks on the company’s project pipeline and future production growth estimates.
Narrative Update • Nov 16

VAR: Production Will Outperform Consensus As Project Pipeline Expands

The average analyst price target for Vår Energi has increased modestly from NOK 38.49 to NOK 38.80. This change reflects improved growth expectations and a lower perceived discount rate according to recent analyst research.
Narrative Update • Oct 31

VAR: Production Pipeline Expansion Will Drive Output Higher Through The Decade

Vår Energi's analyst price target has been revised slightly lower, dropping from NOK 39.15 to NOK 38.49, as analysts consider more measured expectations for revenue growth and profit margins. This comes despite an ongoing split in outlooks across the Street.
Narrative Update • Oct 17

Jotun FPSO And Johan Castberg Ramps Will Boost Industry Potential

Analysts have raised the fair value price target for Vår Energi from NOK 38.62 to NOK 39.15, citing a combination of improved profit margin outlooks and updated perspectives on the company's growth trajectory. Analyst Commentary Recent analyst coverage of Vår Energi presents a balanced perspective, with optimistic and cautious viewpoints shaping sentiment around the stock’s valuation, growth and execution potential.
Narrative Update • Oct 03

Jotun FPSO And Johan Castberg Ramps Will Boost Industry Potential

Vår Energi's fair value estimate has risen from NOK 37.05 to NOK 38.62. Analysts cite modest project pipeline growth and production estimates above market consensus as key drivers for the upward revision.
Narrative Update • Sep 16

Jotun FPSO And Johan Castberg Ramps Will Boost Industry Potential

A sharp increase in Vår Energi’s future P/E ratio, likely reflecting lower earnings expectations, has driven a slight decrease in the consensus analyst price target from NOK38.07 to NOK37.05. What's in the News Jotun FPSO reached peak production ahead of schedule, now producing over 80 kboepd gross, supporting ongoing development of the Balder field, with Balder Phase V and VI projects underway to maintain high output.
Narrative Update • Aug 28

Jotun FPSO And Johan Castberg Ramps Will Boost Industry Potential

Vår Energi's consensus analyst price target was largely unchanged despite a dramatic increase in its Future P/E, suggesting sharply reduced earnings expectations, with fair value now at NOK38.60. What's in the News Vår Energi provided production guidance, targeting around 430 kboepd in Q4 2025 and expecting to reach the mid-point of its 2025 full-year guidance (330–360 kboepd); 2026 guidance at 400 kboepd and 350–400 kboepd for 2027–2030.
Analysis Article • Jul 25

Vår Energi AS Just Missed EPS By 38%: Here's What Analysts Think Will Happen Next

It's shaping up to be a tough period for Vår Energi AS ( OB:VAR ), which a week ago released some disappointing...
Analysis Article • Jul 07

Risks To Shareholder Returns Are Elevated At These Prices For Vår Energi AS (OB:VAR)

It's not a stretch to say that Vår Energi AS' ( OB:VAR ) price-to-earnings (or "P/E") ratio of 13.3x right now seems...
User avatar
New Narrative • Feb 09

New Oil And Gas Projects Will Sustain Production Up To 400,000 Barrels Per Day Through 2030

Vår Energi expects production growth and strategic projects to boost long-term revenue and earnings through increased production capacity and low-cost operations.

Upcoming Dividend Payment

TodayMay 22 2026Ex Dividend DateJun 03 2026Dividend Pay DateJun 12 20269 days from Ex DividendBuy in the next 11 days to receive the upcoming dividend

Stability and Growth of Payments

Fetching dividends data

Stable Dividend: VAR has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: VAR's dividend payments have increased, but the company has only paid a dividend for 4 years.

Dividend Yield vs Market

Vår Energi Dividend Yield vs Market
How does VAR dividend yield compare to the market?
SegmentDividend Yield
Company (VAR)9.5%
Market Bottom 25% (NO)3.0%
Market Top 25% (NO)7.2%
Industry Average (Oil and Gas)5.0%
Analyst forecast (VAR) (up to 3 years)7.9%

Notable Dividend: VAR's dividend (9.49%) is higher than the bottom 25% of dividend payers in the Norwegian market (3.05%).

High Dividend: VAR's dividend (9.49%) is in the top 25% of dividend payers in the Norwegian market (7.18%)

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (130.8%), VAR's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (77.1%), VAR's dividend payments are covered by cash flows.

Discover strong dividend paying companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/22 22:12
End of Day Share Price 2026/05/22 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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

Vår Energi ASA is covered by 19 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Lydia RainforthBarclays
Naisheng CuiBarclays