On July 22, Equinor ASA rose 5.13% in regular trading, trading at $39.455/share, with turnover of $38.705 million. The rally was driven by the company's strong second-quarter earnings report and an expanded capital return program.

Equinor reported Q2 adjusted earnings of $1.33 per diluted share, representing a 107.81% increase from $0.64 a year earlier. Revenue for the quarter reached approximately $35.18 billion, up 39.8% year-over-year. While EPS slightly missed the analyst consensus estimate of $1.38-$1.39, the substantial year-over-year profit improvement lifted investor confidence. The board declared a cash dividend of $0.39 per share and initiated a third tranche of its share buyback program of up to $1.13 billion, running from July 23 through October 26.

The buyback announcement follows the company's June strategic update, in which it doubled its full-year repurchase target to $3 billion and projected cumulative free cash flow exceeding $40 billion through 2030. Broader energy sector strength, with Brent crude rising 3.5% to $94.22 per barrel, also provided a supportive backdrop.

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