9 Best Natural Gas Stocks to Buy for Transitional Power

7. Equinor ASA (NYSE:EQNR)

Short % of Shares Outstanding: 0.90%

On May 11, Banco Santander analyst Alejandro Vigil upgraded Equinor ASA (NYSE:EQNR) to Outperform from Neutral with a NOK 415 price target. The analyst stated that the company stands to benefit from favorable tailwinds tied to a tighter European natural gas market, which could support earnings and cash flow across its substantial gas production and export operations.

Earlier, on May 8, TD Cowen raised its price target on Equinor ASA (NYSE:EQNR) to $40 from $38 while maintaining a Hold rating. The firm noted that quarterly earnings exceeded expectations, driven by stronger U.S. gas realizations and solid performance across the company’s Norwegian operating portfolio.

Founded in 1972 and headquartered in Stavanger, Norway, Equinor ASA (NYSE:EQNR) is a broad international energy company engaged in oil and gas production, trading, renewable energy development, offshore wind, and carbon capture initiatives. The company remains majority-owned by the Norwegian government and operates a diversified global energy portfolio.