Statoil ASA (STO) Downgraded to “Underperform” at Bank of America
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.
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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