Bank of America Corp. upgraded shares of Statoil ASA (NYSE:STO) from a neutral rating to a buy rating in a research note issued to investors on Friday.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley lowered shares of Statoil ASA from an equal weight rating to an underweight rating in a report on Friday, September 9th. HSBC raised shares of Statoil ASA from a hold rating to a buy rating in a report on Wednesday, September 7th. Zacks Investment Research lowered shares of Statoil ASA from a buy rating to a hold rating in a report on Monday, August 8th. DNB Markets raised shares of Statoil ASA from a hold rating to a buy rating in a report on Thursday, July 28th. Finally, Societe Generale raised shares of Statoil ASA from a hold rating to a buy rating in a report on Wednesday, July 6th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $15.53.

Statoil ASA (NYSE:STO) opened at 15.41 on Friday. The firm’s 50-day moving average is $15.89 and its 200 day moving average is $16.22. The firm’s market cap is $49.02 billion. Statoil ASA has a 1-year low of $10.89 and a 1-year high of $17.94.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Thursday, November 3rd will be given a dividend of $0.2201 per share. The ex-dividend date is Tuesday, November 1st. This represents a $0.88 dividend on an annualized basis and a yield of 5.71%. Statoil ASA’s payout ratio is presently -229.72%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Statoil ASA during the first quarter worth about $234,000. Renaissance Technologies LLC increased its position in Statoil ASA by 68.9% in the first quarter. Renaissance Technologies LLC now owns 3,018,400 shares of the company’s stock worth $46,966,000 after buying an additional 1,231,200 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Statoil ASA by 12.2% in the first quarter. Goldman Sachs Group Inc. now owns 532,977 shares of the company’s stock worth $8,293,000 after buying an additional 57,795 shares during the last quarter. Quantbot Technologies LP increased its position in Statoil ASA by 980.5% in the second quarter. Quantbot Technologies LP now owns 47,186 shares of the company’s stock worth $816,000 after buying an additional 42,819 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in Statoil ASA during the first quarter worth about $6,964,000. Institutional investors own 5.33% of the company’s stock.

Statoil ASA Company Profile

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.

5 Day Chart for NYSE:STO

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