Statoil ASA (STO) Lowered to Market Perform at BMO Capital Markets

BMO Capital Markets lowered shares of Statoil ASA (NYSE:STO) from an outperform rating to a market perform rating in a research report released on Tuesday.

Several other equities research analysts have also recently commented on STO. Scotiabank set a $17.00 target price on Statoil ASA and gave the stock a hold rating in a research note on Friday, August 25th. Citigroup Inc. cut Statoil ASA from a buy rating to a neutral rating in a research note on Monday, October 30th. BidaskClub raised Statoil ASA from a hold rating to a buy rating in a research note on Saturday, August 26th. Zacks Investment Research cut Statoil ASA from a hold rating to a sell rating in a research note on Thursday, July 27th. Finally, Deutsche Bank AG raised Statoil ASA from a sell rating to a hold rating in a research note on Monday, September 4th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $18.33.

Statoil ASA (STO) traded down $0.45 during trading on Tuesday, reaching $20.24. The company’s stock had a trading volume of 1,982,900 shares, compared to its average volume of 1,878,298. The company has a market capitalization of $67,140.07, a P/E ratio of 21.11, a PEG ratio of 0.66 and a beta of 0.97. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 0.71. Statoil ASA has a 1 year low of $16.16 and a 1 year high of $21.02.

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Several hedge funds and other institutional investors have recently made changes to their positions in STO. Advisor Group Inc. grew its position in shares of Statoil ASA by 39.5% in the second quarter. Advisor Group Inc. now owns 7,995 shares of the oil and gas company’s stock valued at $114,000 after purchasing an additional 2,262 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Statoil ASA during the second quarter worth about $132,000. PNC Financial Services Group Inc. grew its position in Statoil ASA by 17.4% during the first quarter. PNC Financial Services Group Inc. now owns 9,469 shares of the oil and gas company’s stock worth $163,000 after buying an additional 1,402 shares in the last quarter. HighTower Advisors LLC purchased a new position in Statoil ASA during the second quarter worth about $168,000. Finally, Pacad Investment Ltd. grew its position in Statoil ASA by 8.1% during the second quarter. Pacad Investment Ltd. now owns 10,700 shares of the oil and gas company’s stock worth $177,000 after buying an additional 800 shares in the last quarter. Institutional investors own 4.99% of the company’s stock.

Statoil ASA Company Profile

Statoil ASA (Statoil) is an energy company. The Company is engaged in oil and gas exploration and production activities. The Company’s segments include Development and Production Norway (DPN), Development and Production International (DPI), Marketing, Midstream and Processing (MMP) and Other. DPN segment manages the Company’s upstream activities on the Norwegian continental shelf (NCS) and explores for and extracts crude oil, natural gas and natural gas liquids.

Analyst Recommendations for Statoil ASA (NYSE:STO)

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