Bank of America Corp. upgraded shares of Statoil ASA (NYSE:STO) from a neutral rating to a buy rating in a research report sent to investors on Friday morning.

A number of other brokerages have also issued reports on STO. Morgan Stanley lowered shares of Statoil ASA from an equal weight rating to an underweight rating in a research report on Friday, September 9th. Royal Bank Of Canada downgraded shares of Statoil ASA from a sector perform rating to an underperform rating in a research note on Tuesday, May 31st. Societe Generale raised shares of Statoil ASA from a hold rating to a buy rating in a research note on Wednesday, July 6th. Zacks Investment Research raised shares of Statoil ASA from a hold rating to a buy rating and set a $20.00 price target for the company in a research note on Wednesday, July 13th. Finally, TheStreet raised shares of Statoil ASA to a hold rating in a research note on Thursday, May 26th. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Statoil ASA currently has an average rating of Hold and a consensus target price of $15.53.

Shares of Statoil ASA (NYSE:STO) opened at 15.07 on Friday. Statoil ASA has a 52 week low of $10.89 and a 52 week high of $17.94. The firm’s 50 day moving average is $15.89 and its 200-day moving average is $16.22. The firm’s market cap is $47.94 billion.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Thursday, November 3rd will be issued a $0.2201 dividend. This represents a $0.88 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend is Tuesday, November 1st. Statoil ASA’s dividend payout ratio (DPR) is presently -229.72%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc. boosted its position in Statoil ASA by 0.3% in the second quarter. TD Asset Management Inc. now owns 81,433 shares of the company’s stock valued at $1,410,000 after buying an additional 257 shares during the period. Checchi Capital Advisers LLC boosted its position in Statoil ASA by 3.2% in the second quarter. Checchi Capital Advisers LLC now owns 17,389 shares of the company’s stock valued at $301,000 after buying an additional 533 shares during the period. Raymond James Trust N.A. boosted its position in Statoil ASA by 2.9% in the second quarter. Raymond James Trust N.A. now owns 23,082 shares of the company’s stock valued at $400,000 after buying an additional 661 shares during the period. Wetherby Asset Management Inc. boosted its position in Statoil ASA by 4.1% in the second quarter. Wetherby Asset Management Inc. now owns 18,495 shares of the company’s stock valued at $320,000 after buying an additional 723 shares during the period. Finally, TSP Capital Management Group LLC boosted its position in Statoil ASA by 0.7% in the second quarter. TSP Capital Management Group LLC now owns 108,725 shares of the company’s stock valued at $1,882,000 after buying an additional 760 shares during the period. Institutional investors own 5.33% of the company’s stock.

Statoil ASA Company Profile

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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