Several brokerages have updated their recommendations and price targets on shares of Statoil ASA (NYSE: STO) in the last few weeks:

  • 9/20/2016 – Statoil ASA was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Though Statoil ASA is fairly active in its development operations, we remain apprehensive as the company’s production has been facing hiccups of late. The company has lowered its spending and its financial flexibility is getting increasingly restricted. The currently weak commodity price environment adds to the woes. With crude prices anticipated to remain weak throughout 2016, Statoil’s revenues and earnings will likely remain stressed. Moreover, with major projects scheduled to be commissioned in coming years any project delays and capital spending deferrals may adversely affect the company’s profitability. Considering these factors, we see Statoil as a risky bet that ordinary investors should exit.”
  • 9/16/2016 – Statoil ASA was upgraded by analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating.
  • 9/9/2016 – Statoil ASA was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating.
  • 9/7/2016 – Statoil ASA was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating.
  • 8/8/2016 – Statoil ASA was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Statoil ASA is gaining momentum with the start-up of operations on several new oil and gas fields. The company is also planning turnarounds on several oil and gas fields in 2016 to improve recovery of resources in mature fields. Moreover, Statoil’s exit from low-profit operations and broadening of its international asset base hold promise. Though Statoil is fairly active in its development operations, we remain apprehensive about near-term impediments to the company’s production growth. The company has lowered its spending and its financial flexibility is getting increasingly restricted. The currently weak commodity price environment adds to the woes. With crude prices anticipated to remain weak throughout 2016, the company’s revenues and earnings will likely remain stressed.”
  • 8/3/2016 – Statoil ASA was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $17.00 price target on the stock. According to Zacks, “Statoil ASA reported year-over-year fall in both revenues and profits in the second quarter of 2016. This mainly stemmed from lower realizations and refinery margins. However, it is also gaining momentum with the start-up of operations on several new oil and gas fields. Moreover, Statoil’s exit from low-profit operations and broadening of its international asset base holds promise. Statoil's track record of delivering strong exploration results, adds significantly to its resource base by making several high impact discoveries. Thus we believe the company presents investors with a pocket of opportunity in the near term.  “
  • 8/1/2016 – Statoil ASA was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Statoil ASA reported year-over-year fall in both revenues and profits in the second quarter of 2016. This mainly stemmed from lower realizations and refinery margins. However, it is also gaining momentum with the start-up of operations on several new oil and gas fields. Moreover, Statoil’s exit from low-profit operations and broadening of its international asset base holds promise. Statoil's track record of delivering strong exploration results, adds significantly to its resource base by making several high impact discoveries. While Statoil is fairly active in its development operations, we remain apprehensive as hiccups remain in the recovery of energy prices for the time being.  “
  • 7/28/2016 – Statoil ASA was upgraded by analysts at DNB Markets from a “hold” rating to a “buy” rating.
  • 7/25/2016 – Statoil ASA was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $19.00 price target on the stock. According to Zacks, “Statoil ASA is gaining momentum with the start-up of operations on several new oil and gas fields. The company is also planning turnarounds on several oil and gas fields in 2016 to improve recovery of resources in mature fields. Moreover, Statoil’s exit from low-profit operations and broadening of its international asset base hold promise. Statoil's track record of delivering strong exploration results, adds significantly to its resource base by making several high impact discoveries. The company's strategy of actively returning cash to shareholders through regular dividends and buybacks amid commodity price volatility is another positive.”

Shares of Statoil ASA (NYSE:STO) traded up 3.147% during mid-day trading on Thursday, hitting $15.895. The company had a trading volume of 754,310 shares. The stock’s 50-day moving average is $15.89 and its 200-day moving average is $16.22. The stock’s market cap is $50.56 billion. Statoil ASA has a 52-week low of $10.89 and a 52-week high of $17.94.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Thursday, November 3rd will be given a $0.2201 dividend. The ex-dividend date of this dividend is Tuesday, November 1st. This represents a $0.88 annualized dividend and a dividend yield of 5.71%. Statoil ASA’s payout ratio is -229.72%.

Statoil ASA is an energy company, engaged in oil and gas exploration and production activities. The Company’s segments include Development and Production Norway (DPN), Development and Production USA (DPUSA), Development and Production International (DPI), Marketing, Midstream and Processing (MMP), New Energy Solutions (NES), and Other.

5 Day Chart for NYSE:STO

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