Statoil ASA (STO) Lifted to “Outperform” at Royal Bank of Canada

Statoil ASA (NYSE:STO) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Tuesday, January 2nd, MarketBeat reports.

A number of other research analysts also recently issued reports on the company. Deutsche Bank upgraded Statoil ASA from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. Bank of America downgraded Statoil ASA from a “neutral” rating to an “underperform” rating in a research note on Tuesday, December 5th. Tudor Pickering downgraded Statoil ASA from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. BMO Capital Markets downgraded Statoil ASA from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 14th. Finally, Citigroup downgraded Statoil ASA from a “buy” rating to a “neutral” rating in a research note on Monday, October 30th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $18.33.

Shares of Statoil ASA (NYSE STO) opened at $23.23 on Tuesday. Statoil ASA has a 52-week low of $16.18 and a 52-week high of $23.53. The company has a market cap of $76,630.00, a PE ratio of -96.79, a PEG ratio of 0.80 and a beta of 0.96. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.54.

Statoil ASA (NYSE:STO) last released its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. Statoil ASA had a negative net margin of 1.37% and a positive return on equity of 8.61%. sell-side analysts expect that Statoil ASA will post 1.28 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Pacad Investment Ltd. boosted its position 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 acquiring an additional 800 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Statoil ASA by 2.9% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 165,883 shares of the oil and gas company’s stock valued at $2,742,000 after acquiring an additional 4,708 shares during the last quarter. Sawtooth Solutions LLC bought a new position in shares of Statoil ASA during the 2nd quarter valued at approximately $195,000. Freestone Capital Holdings LLC boosted its position 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 acquiring an additional 1,319 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position 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 acquiring an additional 451 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

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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.

Analyst Recommendations for Statoil ASA (NYSE:STO)

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