Statoil ASA (NYSE:STO)‘s stock had its “neutral” rating reissued by investment analysts at Simmons in a research report issued to clients and investors on Wednesday. They presently have a $20.00 target price on the oil and gas company’s stock, up from their prior target price of $19.00. Simmons’ price target indicates a potential upside of 22.17% from the company’s previous close.
A number of other equities research analysts have also recently commented on STO. Goldman Sachs Group Inc reaffirmed a “sell” rating on shares of Statoil ASA in a research note on Tuesday, February 21st. Zacks Investment Research raised Statoil ASA from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Tuesday, March 28th. Macquarie initiated coverage on Statoil ASA in a research note on Friday, March 24th. They set an “underperform” rating for the company. Finally, Scotiabank set a $17.00 price objective on Statoil ASA and gave the stock a “hold” rating in a research note on Monday, March 27th. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Statoil ASA presently has a consensus rating of “Hold” and a consensus price target of $18.16.
Shares of Statoil ASA (NYSE:STO) traded down 2.39% on Wednesday, reaching $16.37. The company had a trading volume of 2,059,009 shares. The firm’s market capitalization is $52.94 billion. Statoil ASA has a 12 month low of $14.98 and a 12 month high of $19.26. The company’s 50-day moving average is $17.21 and its 200 day moving average is $17.49.
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Hedge funds have recently modified their holdings of the stock. KCG Holdings Inc. raised its stake in shares of Statoil ASA by 313.1% in the third quarter. KCG Holdings Inc. now owns 61,429 shares of the oil and gas company’s stock worth $1,032,000 after buying an additional 46,558 shares during the period. Profund Advisors LLC raised its stake in shares of Statoil ASA by 9.0% in the third quarter. Profund Advisors LLC now owns 64,638 shares of the oil and gas company’s stock worth $1,086,000 after buying an additional 5,346 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Statoil ASA by 2.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 243,596 shares of the oil and gas company’s stock worth $4,092,000 after buying an additional 5,989 shares during the period. Traynor Capital Management Inc. purchased a new stake in shares of Statoil ASA during the third quarter worth approximately $167,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Statoil ASA during the third quarter worth approximately $768,000. Institutional investors own 5.13% of the company’s stock.
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.
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