Shares of Statoil ASA (NYSE:STO) have been given an average rating of “Hold” by the sixteen brokerages that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $17.67.
STO has been the subject of several research analyst reports. BidaskClub upgraded shares of Statoil ASA from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Tudor Pickering downgraded shares of Statoil ASA from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. Deutsche Bank AG upgraded shares of Statoil ASA from a “sell” rating to a “hold” rating in a report on Monday, September 4th. Scotiabank set a $17.00 price target on shares of Statoil ASA and gave the stock a “hold” rating in a report on Friday, August 25th. Finally, Piper Jaffray Companies set a $16.00 price target on shares of Statoil ASA and gave the stock a “hold” rating in a report on Friday, August 25th.
Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new stake in shares of Statoil ASA in the second quarter worth $132,000. Advisor Group Inc. grew its stake 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 worth $114,000 after purchasing an additional 2,262 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Statoil ASA by 17.4% in 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 purchasing an additional 1,402 shares during the last quarter. CAPROCK Group Inc. bought a new stake in shares of Statoil ASA in the third quarter worth $204,000. Finally, HighTower Advisors LLC bought a new stake in shares of Statoil ASA in the second quarter worth $168,000. 5.02% of the stock is currently owned by institutional investors.
Shares of Statoil ASA (NYSE STO) traded up 1.06% on Thursday, reaching $20.10. The company’s stock had a trading volume of 2,264,900 shares. The company’s market cap is $65.08 billion. Statoil ASA has a 52-week low of $15.58 and a 52-week high of $20.77. The firm has a 50 day moving average of $19.97 and a 200 day moving average of $18.18.
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About Statoil ASA
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.
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