Statoil ASA (STO) : Analyst Rating Update

Statoil ASA (STO) : Zacks Investment Research ranks Statoil ASA (STO) as 3, which is a Hold recommendation. 1 other analysts are mildly bullish on the stock and favor a Buy. Not everyone is convinced about the stocks future, hence, the stock receives 2 Sell recommendation. A total of 2 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 5 research analysts is 3.2, which indicates as a Hold.

Statoil ASA (STO) stock is expected to deviate a maximum of $1.73 from the average target price of $15 for the short term period. 3 Street Experts have initiated coverage on the stock with the most promising target being $16 and the most muted being $13.

Statoil ASA (NYSE:STO): The stock opened at $16.82 on Wednesday but the bulls could not build on the opening and the stock topped out at $17.16 for the day. The stock traded down to $16.62 during the day, due to lack of any buying support eventually closed down at $17.13 with a loss of -0.29% for the day. The stock had closed at $17.18 on the previous day. The total traded volume was 3,845,571 shares.

Also, Deutsche Bank downgrades its view on Statoil ASA (NYSE:STO) according to the research report released by the firm to its investors. The shares have now been rated Sell by the stock experts at the ratings house. Earlier, the shares had a rating of Hold. The rating by the firm was issued on June 21, 2016. The company shares have rallied 3.81% from its 1 Year high price. On Apr 28, 2016, the shares registered one year high at $17.94 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $16.46 and the 200 Day Moving Average price is recorded at $15.14.

Statoil ASA is an energy company. The Company is engaged in oil and gas exploration and production activities. The Companys 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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