Royal Bank of Canada upgraded shares of Statoil ASA (NYSE:STO) from a sector perform rating to an outperform rating in a report published on Tuesday.

Several other equities research analysts have also recently issued reports on the stock. Deutsche Bank upgraded shares of Statoil ASA from a sell rating to a hold rating in a report on Monday, September 4th. Bank of America cut shares of Statoil ASA from a neutral rating to an underperform rating in a report on Tuesday, December 5th. Tudor Pickering cut shares of Statoil ASA from a buy rating to a hold rating in a report on Tuesday, September 5th. BMO Capital Markets cut shares of Statoil ASA from an outperform rating to a market perform rating in a report on Tuesday, November 14th. Finally, Citigroup cut shares of Statoil ASA from a buy rating to a neutral rating in a report on Monday, October 30th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $18.33.

Shares of Statoil ASA (NYSE STO) traded up $0.58 during mid-day trading on Tuesday, reaching $22.00. 1,717,000 shares of the company traded hands, compared to its average volume of 1,202,200. Statoil ASA has a 52 week low of $16.18 and a 52 week high of $22.02. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $72,900.00, a PE ratio of -91.67, a P/E/G ratio of 0.73 and a beta of 0.96.

Several institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in shares of Statoil ASA by 4.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,920 shares of the oil and gas company’s stock valued at $165,000 after buying an additional 451 shares in the last quarter. Pacad Investment Ltd. lifted its stake in shares of Statoil ASA by 8.1% during the 2nd quarter. Pacad Investment Ltd. now owns 10,700 shares of the oil and gas company’s stock valued at $177,000 after buying an additional 800 shares in the last quarter. Freestone Capital Holdings LLC lifted its stake in shares of Statoil ASA by 6.3% during the 2nd quarter. Freestone Capital Holdings LLC now owns 22,162 shares of the oil and gas company’s stock valued at $366,000 after buying an additional 1,319 shares in the last quarter. Advisor Group Inc. lifted its stake in shares of Statoil ASA by 39.5% during the 2nd quarter. Advisor Group Inc. now owns 7,995 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 2,262 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC lifted its stake in shares of Statoil ASA by 6.9% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 61,243 shares of the oil and gas company’s stock valued at $1,230,000 after buying an additional 3,977 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

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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.

Analyst Recommendations for Statoil ASA (NYSE:STO)

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