Statoil ASA (STO) Rating Lowered to Underperform at Bank of America

Statoil ASA (NYSE:STO) was downgraded by equities researchers at Bank of America from a “neutral” rating to an “underperform” rating in a report released on Tuesday.

A number of other equities analysts have also weighed in on STO. Barclays lowered Statoil ASA from an “equal weight” rating to an “underweight” rating in a research note on Monday, August 21st. Piper Jaffray Companies set a $16.00 target price on Statoil ASA and gave the stock a “hold” rating in a research note on Friday, August 25th. BidaskClub upgraded Statoil ASA from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. 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. Finally, Deutsche Bank upgraded Statoil ASA from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Statoil ASA has a consensus rating of “Hold” and an average price target of $18.33.

Statoil ASA (NYSE:STO) opened at $20.02 on Tuesday. The firm has a market capitalization of $66,166.55, a P/E ratio of 20.81, a PEG ratio of 0.63 and a beta of 0.96. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.54. Statoil ASA has a 52 week low of $16.18 and a 52 week high of $21.02.

A number of large investors have recently modified their holdings of STO. Advisor Group Inc. grew its position in Statoil ASA by 39.5% during the second quarter. Advisor Group Inc. now owns 7,995 shares of the oil and gas company’s stock worth $114,000 after buying an additional 2,262 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Statoil ASA during the second quarter worth approximately $132,000. PNC Financial Services Group Inc. grew its position in Statoil ASA by 4.8% during the second quarter. PNC Financial Services Group Inc. now owns 9,920 shares of the oil and gas company’s stock worth $165,000 after buying an additional 451 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Statoil ASA during the second quarter worth approximately $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. 5.18% of the stock is currently owned by institutional investors and hedge funds.

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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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