Equinor (EQNR) Climbs to 2-Year High as Oil Rockets Higher

Equinor ASA (NYSE:EQNR) is one of the 10 Stocks to Watch Right Now.

Equinor rallied for a third consecutive day on Friday to hit a new two-year high, mirroring the industry’s rally backed by the continued surging crude oil prices.

At intra-day trading, Equinor ASA (NYSE:EQNR) jumped to its highest price of $33.64 before paring a few cents to finish the session just up by 5.76 percent at $33.59 apiece.

Photo from Equinor website

As of writing, WTI increased by 12.21 percent to $90.90 per barrel, while Brent crude was up by 8.86 percent at $92.98 per barrel amid the intensified war in the Middle East.

Last month, Equinor ASA (NYSE:EQNR) announced a net income of $5.06 billion in full-year 2025, marking a 43 percent decline from the $8.8 billion in 2024. Total revenues and other income, on the other hand, inched up by 3 percent to $106.46 billion from $103.77 billion year-on-year.

For the fourth quarter alone, net income stood at $1.3 billion, lower than the $2 billion in the same period a year earlier. Total revenues declined by 8 percent to $25.3 billion from $27.65 billion year-on-year.

“With new fields on stream and strong operations, we deliver record-high production and competitive returns in 2025. We continue to allocate capital to further develop and maximise value from the Norwegian continental shelf. At the same time, we are delivering focused growth in our international oil and gas portfolio and building our integrated power business, now focusing on the execution of already-sanctioned projects,” he added.

For this year, Equinor ASA (NYSE:EQNR) is targeting to ramp up production by 3 percent year-on-year. It also announced a $1.5 billion share buyback program to boost shareholder value.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. Follow Insider Monkey on Google News.