Statoil ASA (NYSE:STO) was upgraded by investment analysts at Macquarie from an “underperform” rating to a “neutral” rating in a report released on Wednesday, The Fly reports.

Several other equities analysts have also recently commented on the stock. Bank of America cut shares of Statoil ASA from a “neutral” rating to an “underperform” rating in a research report on Tuesday, December 5th. BMO Capital Markets cut shares of Statoil ASA from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 14th. Citigroup cut shares of Statoil ASA from a “buy” rating to a “neutral” rating in a research report on Monday, October 30th. Scotiabank reissued a “hold” rating and issued a $19.00 price target on shares of Statoil ASA in a research report on Wednesday, November 1st. Finally, cut shares of Statoil ASA from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. Statoil ASA currently has an average rating of “Hold” and a consensus target price of $18.33.

Shares of Statoil ASA (NYSE STO) traded up $0.17 during mid-day trading on Wednesday, reaching $22.91. 824,950 shares of the company’s stock traded hands, compared to its average volume of 1,621,383. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.54 and a quick ratio of 1.38. Statoil ASA has a 52 week low of $16.18 and a 52 week high of $22.79. The stock has a market cap of $76,110.00, a PE ratio of -95.46, a PEG ratio of 0.77 and a beta of 0.96.

Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of Statoil ASA by 4.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,920 shares of the oil and gas company’s stock valued at $165,000 after purchasing an additional 451 shares in the last quarter. Pacad Investment Ltd. raised its holdings in shares of Statoil ASA by 8.1% in the 2nd quarter. Pacad Investment Ltd. now owns 10,700 shares of the oil and gas company’s stock valued at $177,000 after purchasing an additional 800 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Statoil ASA by 39.5% in the 2nd 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. Global X MANAGEMENT CO LLC raised its holdings in shares of Statoil ASA by 6.9% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 61,243 shares of the oil and gas company’s stock valued at $1,230,000 after purchasing an additional 3,977 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Statoil ASA by 38.3% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,806 shares of the oil and gas company’s stock valued at $438,000 after purchasing an additional 6,043 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Statoil ASA (NYSE:STO)

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