Statoil ASA (STO) Downgraded by Citigroup Inc. to Neutral

Citigroup Inc. downgraded shares of Statoil ASA (NYSE:STO) from a buy rating to a neutral rating in a research note released on Monday, October 30th, Marketbeat reports.

A number of other brokerages have also recently issued reports on STO. BNP Paribas raised shares of Statoil ASA from an underperform rating to a neutral rating in a research note on Tuesday, September 26th. Tudor Pickering cut shares of Statoil ASA from a buy rating to a hold rating in a research note on Tuesday, September 5th. Deutsche Bank AG upgraded shares of Statoil ASA from a sell rating to a hold rating in a research note on Monday, September 4th. Scotiabank set a $17.00 price target on shares of Statoil ASA and gave the stock a hold rating in a research note on Friday, August 25th. Finally, BidaskClub upgraded shares of Statoil ASA from a hold rating to a buy rating in a research note on Saturday, August 26th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $18.33.

Statoil ASA (NYSE:STO) traded down $0.20 on Monday, hitting $20.69. 1,039,900 shares of the stock traded hands, compared to its average volume of 1,877,820. Statoil ASA has a twelve month low of $15.58 and a twelve month high of $21.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.54 and a quick ratio of 1.38. The company has a market capitalization of $67,789.07, a PE ratio of 21.32, a P/E/G ratio of 0.66 and a beta of 0.97.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in STO. TSP Capital Management Group LLC lifted its position in 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 worth $1,802,000 after acquiring an additional 275 shares during the period. TD Asset Management Inc. boosted its stake in Statoil ASA by 0.5% in the second quarter. TD Asset Management Inc. now owns 71,039 shares of the oil and gas company’s stock valued at $1,174,000 after acquiring an additional 364 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Statoil ASA by 4.8% during the second quarter. PNC Financial Services Group Inc. now owns 9,920 shares of the oil and gas company’s stock worth $165,000 after buying an additional 451 shares during the period. Pacad Investment Ltd. boosted its position in shares of Statoil ASA by 8.1% during the second quarter. Pacad Investment Ltd. now owns 10,700 shares of the oil and gas company’s stock worth $177,000 after buying an additional 800 shares during the period. Finally, Freestone Capital Holdings LLC boosted its position in shares of Statoil ASA by 6.3% during the second quarter. Freestone Capital Holdings LLC now owns 22,162 shares of the oil and gas company’s stock worth $366,000 after buying an additional 1,319 shares during the period. 4.99% of the stock is owned by hedge funds and other institutional investors.

Statoil ASA Company Profile

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.

Analyst Recommendations for Statoil ASA (NYSE:STO)

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