Statoil ASA (NYSE:STO) had its price objective hoisted by Simmons from $19.00 to $20.00 in a report released on Wednesday. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Simmons’ price objective would suggest a potential upside of 21.43% from the stock’s current price.
Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Statoil ASA from a “buy” rating to a “strong sell” rating in a research note on Tuesday, April 11th. Macquarie began coverage on shares of Statoil ASA in a research note on Friday, March 24th. They set an “underperform” rating on the stock. Scotiabank set a $17.00 price target on shares of Statoil ASA and gave the company a “hold” rating in a research note on Monday, March 27th. Finally, Goldman Sachs Group Inc restated a “sell” rating on shares of Statoil ASA in a research note on Tuesday, February 21st. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Statoil ASA has a consensus rating of “Hold” and an average price target of $18.16.
Shares of Statoil ASA (NYSE:STO) traded up 0.61% during midday trading on Wednesday, reaching $16.47. 2,974,684 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $17.21 and a 200 day moving average price of $17.49. The firm’s market cap is $53.26 billion. Statoil ASA has a 12 month low of $14.98 and a 12 month high of $19.26.
A number of hedge funds have recently bought and sold shares of the company. KCG Holdings Inc. boosted its stake in 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 valued at $1,032,000 after buying an additional 46,558 shares in the last quarter. Profund Advisors LLC boosted its stake in 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 valued at $1,086,000 after buying an additional 5,346 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 valued at $4,092,000 after buying an additional 5,989 shares in the last quarter. Traynor Capital Management Inc. purchased a new stake in Statoil ASA during the third quarter valued at about $167,000. Finally, Quadrature Capital Ltd purchased a new stake in Statoil ASA during the third quarter valued at about $768,000. Institutional investors and hedge funds 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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