Statoil ASA(ADR) Short Interest Up 56.4% in May (STO)
Statoil ASA(ADR) (NYSE:STO) was the target of a large growth in short interest in May. As of May 30th, there was short interest totalling 4,122,901 shares, a growth of 56.4% from the May 15th total of 2,636,959 shares, Stock Ratings Network reports. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,532,662 shares, the days-to-cover ratio is presently 2.7 days.
A number of research firms have recently commented on STO. Analysts at Zacks reiterated a “neutral” rating on shares of Statoil ASA(ADR) in a research note on Tuesday, June 17th. They now have a $33.00 price target on the stock. Separately, analysts at Jefferies Group initiated coverage on shares of Statoil ASA(ADR) in a research note on Monday, June 16th. They set an “underperform” rating on the stock. Finally, analysts at Deutsche Bank downgraded shares of Statoil ASA(ADR) from a “buy” rating to a “hold” rating in a research note on Thursday, June 12th. They noted that the move was a valuation call. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Statoil ASA(ADR) has an average rating of “Hold” and a consensus price target of $63.50.
Shares of Statoil AS (NYSE:STO) opened at 31.35 on Wednesday. Statoil AS has a 1-year low of $20.30 and a 1-year high of $31.95. The stock’s 50-day moving average is $30.91 and its 200-day moving average is $27.35. The company has a market cap of $99.718 billion and a price-to-earnings ratio of 10.93.
Statoil ASA(ADR) (NYSE:STO) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.62 by $0.20. Analysts expect that Statoil AS will post $2.64 EPS for the current fiscal year.
Statoil ASA (NYSE:STO) is a Norway-based integrated energy company primarily engaged in oil and gas exploration and production activities.