BMO Capital Markets Lowers Statoil ASA (STO) to Market Perform

Statoil ASA (NYSE:STO) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday.

Other analysts have also recently issued reports about the stock. BidaskClub raised shares of Statoil ASA from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Tudor Pickering lowered shares of Statoil ASA from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. Deutsche Bank AG raised shares of Statoil ASA from a “sell” rating to a “hold” rating in a research report on Monday, September 4th. Scotiabank set a $17.00 price objective on shares of Statoil ASA and gave the company a “hold” rating in a research report on Friday, August 25th. Finally, Piper Jaffray Companies set a $16.00 price objective on shares of Statoil ASA and gave the company a “hold” rating in a research report on Friday, August 25th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. Statoil ASA has a consensus rating of “Hold” and a consensus price target of $18.33.

Statoil ASA (STO) opened at $20.69 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.54 and a quick ratio of 1.38. The stock has a market cap of $67,789.07, a PE ratio of 21.32, a P/E/G ratio of 0.66 and a beta of 0.97. Statoil ASA has a 52-week low of $15.58 and a 52-week high of $21.02.

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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. TSP Capital Management Group LLC boosted its position in Statoil ASA by 0.3% during the second quarter. TSP Capital Management Group LLC now owns 109,000 shares of the oil and gas company’s stock worth $1,802,000 after purchasing an additional 275 shares during the period. TD Asset Management Inc. raised its stake in shares of Statoil ASA by 0.5% during the second quarter. TD Asset Management Inc. now owns 71,039 shares of the oil and gas company’s stock worth $1,174,000 after acquiring an additional 364 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of 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 acquiring an additional 451 shares in the last quarter. Pacad Investment Ltd. raised its stake in shares of 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 acquiring an additional 800 shares in the last quarter. Finally, Freestone Capital Holdings LLC raised its stake in shares of Statoil ASA by 6.3% during the second quarter. Freestone Capital Holdings LLC now owns 22,162 shares of the oil and gas company’s stock worth $366,000 after acquiring an additional 1,319 shares in the last quarter. Institutional investors own 4.99% of the company’s stock.

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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