Why TGS stock moves
TGS rose, moving against a sharply falling Oslo market.
Written after the close on ·
Why today
16,437 news analyzed todayTGS rose, moving against a sharply falling Oslo market.
Heavier-than-usual trading came with the move, but the day was an ordinary-sized one for TGS.
Quarterly profit fell, which likely weighed against the gain.
The stock is still well below its high from early May and well above its low from mid December.
Today's move of +1.10% was 0.8 times a normal day's 1.4%. Oslo Børs benchmark index moved −1.31% on the same day.
TGS +1.10%
What analysts expect, and how often they have been right
Analysts’ estimates for TGS.
TGS earned more than expected in 2 out of 8 reports.
For comparison, about 46% of reports from Nordic companies beat the estimate in the last three years.
The share moved in the same direction as the earnings surprise in 4 out of 7 reports with a measured move, against about 63% of reports from Nordic companies.
Ratings
Price targets
Latest price 128.90 NOK
Earnings against expectations, and the share’s reaction
Expected EPSAbove estimateBelow estimateAs expected$
Next reported quarter: expected earnings per share of $0.30 (February 11). For the current fiscal year, expected earnings per share changed from $1.09 three months ago to $0.96 now. 2026 estimate: $0.96. 2027 estimate: $1.33.
What the key figures say about TGS
The figures connect what TGS earns with what investors pay.
The line shows the share price in the same year, on its own scale. Hatched bars: analysts’ estimates.
Profit divided by the number of shares. Each share represents this much of the earnings.
2022–2025: $0.09–$0.74. Peers: BW Offshore -1.67 NOK, Reach Subsea -0.24 NOK, Noram Drilling 2.86 NOK. 2026 estimate: $0.96 ($0.65–$1.25). 2027 estimate: $1.33 ($0.87–$1.90).
What the company sold during the year.
2022–2025: $717M–$1.5B. Peers: BW Offshore $522M, Reach Subsea 2.8 bn NOK, Noram Drilling $106M. 2026 estimate: $1.5B ($1.5B–$1.5B). 2027 estimate: $1.6B ($1.4B–$1.7B).
The percentage of revenue left after the costs of running the business.
2022–2025: 7.7%–21.1%. Peers: BW Offshore 28.4%, Reach Subsea 0.5%, Noram Drilling 11.9%.
Profit as a percentage of shareholders’ money in the company.
2022–2025: 0.9%–7.1%. Peers: BW Offshore −2.5%, Reach Subsea −6.3%, Noram Drilling 21.8%.
Money paid to shareholders per share, summed by calendar year.
2017–2025: 4.75 NOK–9.49 NOK.
The ordinary yearly dividend as a percentage of the share price.
2022–2025: 4.1%–7.0%. Peers: BW Offshore 9.3%, Reach Subsea 0.0%, Noram Drilling 11.7%.
Net debt divided by operating earnings before depreciation and amortisation.
2022–2025: -0.16–1.14. Peers: BW Offshore 6.74, Reach Subsea 9.31, Noram Drilling -0.44.
More key figures
Cash left after investments, divided by the number of shares.
2022–2025: $0.95–$1.94. Peers: BW Offshore $0.42, Reach Subsea 2.27 NOK, Noram Drilling $0.40.
The percentage of assets financed by shareholders’ equity.
2022–2025: 50.3%–67.2%.
The dividend explained
A dividend is money paid to shareholders. TGS paid 5.85 NOK per share in the twelve months through November 6, 2026.
2017: 4.92 NOK2018: 6.49 NOK2019: 9.49 NOK2020: 7.05 NOK2021: 4.75 NOK2022: 5.47 NOK2023: 5.91 NOK2024: 6.03 NOK2025: 6.46 NOK2026 so far: 5.85 NOK
What followed similar falls?
Including reinvested dividends, TGS fell 9.0% over the latest five trading days. Since November 7, 2016, falls at least this large were followed by a higher value 21 trading days later in 18 out of 37 non-overlapping periods. The median was −0.5%, against −0.0% for an ordinary 21-day period, which ended higher 50 times in 100.
Such a fall has not said much about the next month.
−0.5% · 18/37
What to watch next, and why
The earnings report shows how TGS's revenue and profit have changed.
- Earnings report
The earnings report shows how TGS's revenue and profit have changed.
Add to calendar
Earnings report
Next report: · Add to calendar · Google Calendar
On its last 15 report days TGS usually moved about 4.3%. On a normal day it moves 1.4%.
−3.42% Why? −6.92% +1.96% +5.33%
10,000 NOK in TGS bought on November 7, 2016 is worth 12,300 NOK today, with dividends reinvested.
The same amount in OSEBX with dividends would have become 32,400 NOK.
What would 10,000 NOK in TGS be worth today? →
What would 10,000 NOK in TGS be worth today?
12,300 NOK
with dividends reinvested, bought on November 7, 2016. The same amount in OSEBX with dividends would have become 32,400 NOK.
At worst it was worth 5,680 NOK (October 29, 2021).
The five biggest days of the journey
· −27.1% · the whole market fell 8.1% the same day
· −15.8% · the whole market fell 0.1% the same day · report day
· −15.5%
· +15.4% · the whole market rose 1.8% the same day
· +14.8% · the whole market rose 0.2% the same day
Earlier days
−9.03% TGS fell sharply over the week, moving more than the Oslo market, which also fell sharply. Read →
TGS fell sharply over the week, moving more than the Oslo market, which also fell sharply.
The drop looks partly tied to a weak Q3 profit report, even though nine-month revenue rose.
Volume was heavy in the latest session, with shares rising only slightly against a falling market.
Energy peers on Oslo Børs fell even harder over the same days, so sector-wide selling likely played a role.
−2.82% TGS fell, more than Oslo Børs, which also fell sharply. Read →
TGS fell, more than Oslo Børs, which also fell sharply.
No company news explains it.
Over the last five trading days TGS fell sharply, about three times a normal stretch and a big move for the stock.
The most likely drivers are the weak market and sector, with energy stocks broadly down, and lingering weakness after the Q2 earnings miss earlier in the period.
The next earnings report is Thursday 11 February 2027.
−5.29% TGS fell sharply, more than the market did. Read →
TGS fell sharply, more than the market did.
No company news explains it.
The shares traded without their dividend last week, which took about that amount off the quoted price.
Over the last five trading days TGS fell clearly while Oslo Børs fell slightly.
Sector peers fell as well, which points to a shared sector mood rather than company news.
−0.56% TGS fell slightly without a company-news explanation. Read →
TGS fell slightly without a company-news explanation.
Over the same day Oslo Børs rose slightly, so TGS moved against the market.
Over the last five trading days TGS rose clearly, outpacing a sharply rising Oslo Børs index.
The shares traded without their dividend yesterday, which took about 1% off the quoted price.
+4.55% TGS, the Norwegian seismic data company listed on Oslo Børs, rose clearly over the week, moving more than the broader market. Read →
TGS, the Norwegian seismic data company listed on Oslo Børs, rose clearly over the week, moving more than the broader market.
Oslo Børs rose sharply over the same days.
Analysts raised or cut their target prices after the late-October quarterly report, which beat expectations on earnings.
The backlog of contracts grew 52 percent.
−0.87% TGS fell slightly, while Oslo Børs rose slightly. Read →
TGS fell slightly, while Oslo Børs rose slightly.
The shares traded without their dividend that day, which took about 1% off the quoted price.
No company news explains the move.
Over the last five trading days TGS rose clearly, more than the market's sharp rise.
The stock's move was an ordinary-sized one for TGS.
+0.76% TGS rose, while the Oslo Børs index was roughly flat. Read →
TGS rose, while the Oslo Børs index was roughly flat.
The move was an ordinary one for TGS, with no company news from that session explaining it.
Over the last five trading days TGS rose clearly, more than the market's slight gain.
Earlier, TGS beat earnings expectations on higher contract activity and a backlog up 52%, though margins were pressured by costs and low pricing.
Next, TGS reports on Thursday 11 February 2027.
+3.80% TGS rose, more than the Oslo Børs index, which also rose sharply. Read →
TGS rose, more than the Oslo Børs index, which also rose sharply.
Several analysts raised or cut their price targets that day, a fair value estimate, and the shift was mixed.
Fearnley raised its target and kept a buy rating, while Pareto and SEB lowered theirs.
Over the last five trading days the stock rose clearly, as the market did.
Next, TGS reports earnings on Thursday 11 February 2027.
−0.30% TGS barely moved, while the Oslo market rose clearly. Read →
TGS barely moved, while the Oslo market rose clearly.
SB1 Markets cut its price target, the share price it sees as fair, to 95 kroner from 100 and kept its sell rating.
Earlier, TGS reported third-quarter results that beat expectations, but margins were hit by higher operating costs and low contract prices.
Over the last five trading days, TGS fell slightly while the market was roughly flat.
−1.16% TGS was roughly unchanged over the last five trading days, moving in a narrow range. Read →
TGS was roughly unchanged over the last five trading days, moving in a narrow range.
The market was also flat over the same days, so the shares moved about in line with the wider market.
The main driver was third-quarter results, published yesterday, which showed revenue up on strong contract activity.
Higher operating costs and low contract prices pressured margins, though backlog, the value of signed work not yet done, rose 52% year on year to USD 679 million.
−3.42% TGS fell sharply after its Q3 2026 results, which beat expectations but showed squeezed margins. Read →
TGS fell sharply after its Q3 2026 results, which beat expectations but showed squeezed margins.
The brief should compare with the market: over the same session Oslo Børs also fell sharply, so TGS moved in line with the broader market, with the results adding to the move.
Revenue rose to USD 397 million on high contract activity, and the order backlog grew 52% to USD 679 million.
Margins fell because operational challenges pushed up costs and contract prices stayed low, which likely weighed on investors despite the earnings beat.
Trading was about twice a normal session, and the move was typical of a report day for TGS.
Learn more · Why do stocks go up and down?