This Is My Favorite Energy Stock Right Now
Norwegian energy giant Equinor (NYSE: EQNR) was the best-performing oil major in 2020. It was a minor victory, though, as Equinor produced a total return of -13.6%. Still, it performed much better than its peers, as well as the broader energy sector, which suffered a -32.5% return in 2020.
Like most oil companies, its performance was heavily impacted by the COVID-19 pandemic, which crippled oil and gas prices for most of last year. Looking ahead, Equinor has some of the lowest production costs in the industry -- which should help it navigate lower price environments while still capitalizing on upside. Here's why Equinor has what it takes to continue outperforming other oil majors, and one day turn into one of the world's leading offshore wind energy operators.
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Source Fool.com