Equinor Soars 1.30% Amid Strike Threats, Board Changes

Equinor's stock price rose to its highest level since August 2024 today, with an intraday gain of 1.30%.

The strategy of buying EQNR shares after they reached a recent high and holding for 1 week showed poor performance over the past 5 years. The annualized return was -1.2%, significantly underperforming the market. This indicates that relying on recent highs as a buying trigger and holding for a short duration is not a reliable strategy for EQNR.

Equinor's stock price could be influenced by several recent factors. Norwegian workers on offshore drilling rigs have threatened to go on strike on June 21 if wage negotiations fail. This potential strike could impact Equinor's operations and thus its stock price.

Several research firms have updated their price targets for Equinor ASA. Notably, TD Cowen has reduced its target from $22.00 to $19.00, which may affect investor sentiment and stock valuation.

Equinor has announced board changes and is considered well-positioned as Europe struggles to build adequate natural gas inventories. This strategic positioning could influence market perceptions and Equinor’s stock performance.

Equinor has received approval to drill a new wildcat well in the Barents Sea, which could lead to new opportunities and increased production, potentially impacting its stock price positively.