Morgan Stanley Downgrades Statoil ASA(ADR) to Equal-weight

Brokerage firm Morgan Stanley Downgrades its rating on Statoil ASA(ADR)(NYSE:STO). The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Morgan Stanley was issued on Jul 21, 2016.

In a different note, On Jun 21, 2016, Deutsche Bank said it Downgrades its rating on Statoil ASA(ADR). The shares have been rated ‘Sell’ by the firm. On May 31, 2016, RBC Capital said it Downgrades its rating on Statoil ASA(ADR). The shares have been rated ‘Underperform’ by the firm. On May 26, 2016, HSBC said it Downgrades its rating on Statoil ASA(ADR). The shares have been rated ‘Neutral’ by the firm.

Statoil ASA(ADR) (STO) made into the market gainers list on Wednesdays trading session with the shares advancing 0.40% or 0.07 points. Due to strong positive momentum, the stock ended at $17.36, which is also near the day’s high of $17.45. The stock began the session at $17.23 and the volume stood at 13,29,119 shares. The 52-week high of the shares is $17.94 and the 52 week low is $10.885. The company has a current market capitalization of $55,355 M and it has 3,18,86,47,100 shares in outstanding.

Statoil ASA(ADR) has also declared a cash dividend of $0.2201 on Apr 27, 2016. The shares will quote ex-dividend on Aug 9, 2016 and the record date has been fixed on Aug 11, 2016. The dividend payable date has been fixed on Sep 23, 2016.

Statoil ASA(ADR)(STO) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $10.18B. Analysts had an estimated revenue of $12.18B. Earnings per share were $0.04. Analysts had estimated an EPS of $-0.03.

Statoil ASA 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 North America (DPNA) Development and Production International (DPI) Marketing Processing and Renewable Energy (MPR) and Other. The DPN segment consists of its exploration field development and operational activities on the Norwegian continental shelf (NCS). The DPI segment develops and produces oil and gas outside the NCS. The DPNA segment comprises of its upstream activities in North America. The MPR segment markets and trades crude oil natural gas power emissions liquids and refined products for transportation and processing and for developing business opportunities in renewables. The Other segment includes activities in Global Strategy and Business Development (GSB); Technology Projects and Drilling (TPD) and corporate staffs and support functions.

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