Statoil ASA (NYSE:STO) saw an uptick in trading volume on Wednesday . 2,402,931 shares traded hands during mid-day trading, a decline of 10% from the previous session’s volume of 2,682,141 shares.The stock last traded at $17.08 and had previously closed at $17.18.

Several research firms have recently weighed in on STO. Societe Generale raised shares of Statoil ASA from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research raised shares of Statoil ASA from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Monday, May 2nd. HSBC downgraded shares of Statoil ASA from a “buy” rating to a “hold” rating in a research note on Thursday, May 26th. Deutsche Bank AG downgraded shares of Statoil ASA from a “hold” rating to a “sell” rating and lifted their target price for the stock from $16.43 to $16.64 in a research note on Tuesday, June 21st. Finally, Royal Bank Of Canada downgraded shares of Statoil ASA from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, May 31st. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $15.93.

The firm’s 50-day moving average price is $16.47 and its 200 day moving average price is $15.16. The firm has a market capitalization of $54.47 billion and a PE ratio of 84.38.

Statoil ASA (NYSE:STO) last released its earnings results on Wednesday, April 27th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.22. On average, equities analysts expect that Statoil ASA will post $0.55 EPS for the current fiscal year.

The company also recently announced a dividend, which was paid on Wednesday, June 29th. Shareholders of record on Friday, May 13th were issued a $0.2201 dividend. The ex-dividend date was Thursday, May 12th.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its position in Statoil ASA by 1.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 170,099 shares of the company’s stock worth $2,375,000 after buying an additional 1,615 shares during the period. TSP Capital Management Group LLC raised its position in Statoil ASA by 11.1% in the fourth quarter. TSP Capital Management Group LLC now owns 111,740 shares of the company’s stock worth $1,560,000 after buying an additional 11,200 shares during the period. BNP Paribas Arbitrage SA raised its position in Statoil ASA by 44.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 74,120 shares of the company’s stock worth $1,035,000 after buying an additional 22,734 shares during the period. Russell Frank Co purchased a new position in Statoil ASA during the fourth quarter worth about $1,795,000. Finally, Sei Investments Co. raised its position in Statoil ASA by 12.6% in the fourth quarter. Sei Investments Co. now owns 854,795 shares of the company’s stock worth $11,933,000 after buying an additional 95,336 shares during the period.

Statoil ASA is an energy company, engaged in oil and gas exploration and production activities. The Company’s segments include Development and Production Norway (DPN), Development and Production USA (DPUSA), Development and Production International (DPI), Marketing, Midstream and Processing (MMP), New Energy Solutions (NES), and Other.

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