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Statoil ASA(ADR) (NYSE:STO) was upgraded by equities research analysts at HSBC from an “underweight” rating to a “neutral” rating in a research note issued on Friday, TheFlyOnTheWall.com reports.

Shares of Statoil AS (NYSE:STO) opened at 28.60 on Friday. Statoil AS has a one year low of $22.12 and a one year high of $31.95. The stock has a 50-day moving average of $28.92 and a 200-day moving average of $29.20. The company has a market cap of $90.959 billion and a P/E ratio of 8.91.

Statoil ASA(ADR) (NYSE:STO) last issued its quarterly earnings data on Friday, July 25th. The company reported $0.50 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.56 by $0.06. On average, analysts predict that Statoil AS will post $2.50 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on STO. Analysts at Deutsche Bank upgraded shares of Statoil ASA(ADR) from a “hold” rating to a “buy” rating in a research note on Tuesday. Separately, analysts at Swedbank upgraded shares of Statoil ASA(ADR) from a “reduce” rating to a “neutral” rating in a research note on Thursday, August 14th. Finally, analysts at Morgan Stanley downgraded shares of Statoil ASA(ADR) from an “overweight” rating to an “equal weight” rating in a research note on Monday, July 14th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $73.67.

Statoil ASA (NYSE:STO) is a Norway-based integrated energy company primarily engaged in oil and gas exploration and production activities.

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