Equinor ASA's stock is experiencing an uptick today, likely influenced by the company's ongoing share buy-back program. The company recently announced the completion of transactions under the fourth tranche of its 2024 share buy-back program, purchasing a total of 1,750,000 shares at an average price of NOK 269.4370 per share. This buy-back activity, which reduces the number of shares available in the market, can often lead to an increase in share price as it signals confidence from the company in its own financial health and future prospects.
Additionally, broader market factors such as rising oil prices may also be contributing to the positive movement in Equinor's stock. Oil prices have been on the rise as traders anticipate the upcoming OPEC+ meeting, which is expected to discuss potential production cuts. This anticipation has led to a boost in oil futures, which can positively impact oil and gas companies like Equinor.
Equinor ASA's stock is currently priced at $24.63, reflecting a 2.18% increase from its previous close of $24.10.