Statoil ASA (NYSE:STO) was downgraded by equities researchers at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

A number of other equities research analysts also recently weighed in on the company. Deutsche Bank upgraded Statoil ASA from a “sell” rating to a “hold” rating in a report on Monday, September 4th. Tudor Pickering downgraded Statoil ASA from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. Scotiabank set a $17.00 target price on Statoil ASA and gave the stock a “hold” rating in a report on Friday, August 25th. Barclays downgraded Statoil ASA from an “equal weight” rating to an “underweight” rating in a report on Monday, August 21st. Finally, Piper Jaffray Companies set a $16.00 price objective on Statoil ASA and gave the company a “hold” rating in a report on Friday, August 25th. Five equities 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 presently has an average rating of “Hold” and an average price target of $18.33.

Statoil ASA (STO) traded up $0.14 during trading on Tuesday, hitting $20.39. The company had a trading volume of 1,456,900 shares, compared to its average volume of 1,856,840. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.54. The firm has a market capitalization of $65,712.24, a price-to-earnings ratio of 20.66, a P/E/G ratio of 0.64 and a beta of 0.96. Statoil ASA has a one year low of $16.18 and a one year high of $21.02.

A number of hedge funds have recently bought and sold shares of the business. TSP Capital Management Group LLC lifted its position in shares of Statoil ASA by 0.3% during the 2nd quarter. TSP Capital Management Group LLC now owns 109,000 shares of the oil and gas company’s stock valued at $1,802,000 after buying an additional 275 shares during the last quarter. TD Asset Management Inc. lifted its position in shares of Statoil ASA by 0.5% during the 2nd quarter. TD Asset Management Inc. now owns 71,039 shares of the oil and gas company’s stock valued at $1,174,000 after buying an additional 364 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Statoil ASA by 4.8% during 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 buying an additional 451 shares during the last quarter. Pacad Investment Ltd. lifted its position in shares of Statoil ASA by 8.1% during the 2nd quarter. Pacad Investment Ltd. now owns 10,700 shares of the oil and gas company’s stock valued at $177,000 after buying an additional 800 shares during the last quarter. Finally, Freestone Capital Holdings LLC lifted its position in shares of Statoil ASA by 6.3% during the 2nd quarter. Freestone Capital Holdings LLC now owns 22,162 shares of the oil and gas company’s stock valued at $366,000 after buying an additional 1,319 shares during the last quarter. 5.18% of the stock is currently owned by institutional investors and hedge funds.

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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.

The Fly

Analyst Recommendations for Statoil ASA (NYSE:STO)

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