Statoil ASA (NYSE:STO) rose 1.6% during trading on Tuesday . The company traded as high as $16.60 and last traded at $16.54, with a volume of 1,181,341 shares changing hands. The stock had previously closed at $16.28.

A number of research analysts have recently weighed in on STO shares. Royal Bank Of Canada cut Statoil ASA from a “sector perform” rating to an “underperform” rating in a research report on Tuesday, May 31st. Zacks Investment Research upgraded Statoil ASA from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, May 2nd. Societe Generale upgraded Statoil ASA from a “hold” rating to a “buy” rating in a research report on Wednesday, July 6th. TheStreet upgraded Statoil ASA to a “hold” rating in a research report on Thursday, May 26th. Finally, Bank of America Corp. upgraded Statoil ASA from an “underperform” rating to a “neutral” rating in a research report on Friday, July 15th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. Statoil ASA currently has an average rating of “Hold” and an average price target of $15.53.

The company’s 50 day moving average is $16.65 and its 200-day moving average is $15.90. The firm’s market capitalization is $51.75 billion.

The firm also recently declared a dividend, which was paid on Thursday, August 11th. Shareholders of record on Thursday, August 11th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, August 9th.

A hedge fund recently raised its stake in Statoil ASA stock. BNP Paribas Arbitrage SA raised its position in Statoil ASA (NYSE:STO) by 44.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,120 shares of the company’s stock after buying an additional 22,734 shares during the period. BNP Paribas Arbitrage SA’s holdings in Statoil ASA were worth $1,035,000 at the end of the most recent quarter.

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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