HSBC Holdings plc cut shares of Statoil ASA (NYSE:STO) from a buy rating to a hold rating in a report issued on Tuesday morning, Marketbeat reports.
A number of other research analysts have also recently weighed in on STO. Scotiabank reaffirmed a hold rating and set a $17.00 price objective on shares of Statoil ASA in a research report on Thursday, July 13th. BidaskClub raised Statoil ASA from a strong sell rating to a sell rating in a report on Thursday, July 13th. Zacks Investment Research cut Statoil ASA from a hold rating to a sell rating in a report on Thursday, July 27th. Barclays PLC cut 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 target on Statoil ASA and gave the stock a hold rating in a report on Friday, August 25th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $18.33.
Statoil ASA (NYSE STO) traded down $0.12 during mid-day trading on Tuesday, hitting $20.89. The stock had a trading volume of 1,992,163 shares, compared to its average volume of 2,021,728. Statoil ASA has a 12-month low of $15.58 and a 12-month high of $21.02. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. The stock has a market cap of $68,178.48, a PE ratio of 21.44, a P/E/G ratio of 0.67 and a beta of 0.97.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in STO. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Statoil ASA by 38.3% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,806 shares of the oil and gas company’s stock valued at $438,000 after acquiring an additional 6,043 shares during the last quarter. Folketrygdfondet grew its position in Statoil ASA by 0.3% in the 3rd quarter. Folketrygdfondet now owns 117,919,207 shares of the oil and gas company’s stock valued at $2,368,997,000 after acquiring an additional 335,771 shares during the last quarter. Macquarie Group Ltd. grew its position in Statoil ASA by 16.4% in the 3rd quarter. Macquarie Group Ltd. now owns 255,994 shares of the oil and gas company’s stock valued at $5,143,000 after acquiring an additional 36,103 shares during the last quarter. Putnam FL Investment Management Co. bought a new position in Statoil ASA in the 3rd quarter valued at $861,000. Finally, Advisor Group Inc. grew its position in Statoil ASA by 31.4% in the 3rd quarter. Advisor Group Inc. now owns 10,506 shares of the oil and gas company’s stock valued at $210,000 after acquiring an additional 2,511 shares during the last quarter. 5.03% of the stock is currently owned by hedge funds and other institutional investors.
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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