Equinor ASA (NYSE:EQNR) shares are trading higher during Monday’s premarket session, up 2.27%, bucking a softer tape as Energy stocks lead early sector performance.

Nasdaq futures are down 0.10% while S&P 500 futures have shed 0.11%, but Energy (XLE) is up 0.63%, giving EQNR a supportive macro backdrop tied to the commodity-sensitive trade.

Equinor Extends Drilling, Well Service Contracts

Separately, Equinor on Monday said it has extended key drilling and well service contracts to sustain production on the Norwegian continental shelf.

The company is exercising one-year options on three integrated drilling and well services contracts. In addition, it is extending 18 corporate framework agreements for related specialist services by two years.

The integrated contracts are valued at 8.3 billion Norwegian kroner (about $0.9 billion). The specialist service frameworks are estimated at roughly 4.3 billion Norwegian kroner (about $0.5 billion) annually over the two-year period.

The contracts have been awarded to Baker Hughes Company (NASDAQ:BKR), Halliburton Company (NYSE:HAL) and SLB Limited (NYSE:SLB).

Equinor said the extensions support its strategy to maintain stable production of around 1.2 million barrels of oil equivalent per day through 2035.

Equinor Technical Analysis

Equinor is holding a strong uptrend structure, trading in the upper part of its $21.96 to $43.46 52-week range, which indicates buyers have defended pullbacks over the past year.

The stock is trading 4.9% above its 20-day simple moving average (SMA) and 31.5% above its 100-day SMA, a combo that suggests short-term strength is still aligned with the intermediate uptrend.

The moving average convergence divergence (MACD), a trend/momentum measure, is above its signal line with a positive histogram, which leans toward upside momentum staying in control. That lines up with the bullish “golden cross” that occurred in February, a longer-term trend signal that often coincides with sustained demand.

Over the last 12 months, the stock is up 71.98%, which shows the longer-term tape has been decisively positive. With price still below the $42.00 ceiling, the next test is whether buyers can push through that area without losing the $34.50 support zone.

  • Key Support: $34.50 — an area where demand has tended to show up.
  • Key Resistance: $42.00 — a level where rallies have recently stalled.

Earnings & Analyst Outlook

The countdown is on: Equinor is set to report earnings on May 6, 2026 (confirmed).

  • EPS Estimate: $1.30 (Up from 66 cents YoY)
  • Revenue Estimate: $28.95 Billion (Down from $29.60 Billion YoY)
  • Valuation: P/E of 20.5x (Suggests fair valuation relative to peers)

Analyst Consensus & Recent Actions: The stock carries a Hold rating with an average price target of $37.00. Recent analyst moves include:

  • TD Cowen: Hold (Raises Target to $37.00) (March 20)
  • Jefferies: Hold (January 8)
  • JP Morgan: Downgraded to Underweight (August 12, 2025)

EQNR Stock Price Activity: Equinor shares were up 2.29% at $40.62 during premarket trading on Monday, according to Benzinga Pro data.

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