Shares of Statoil ASA (NYSE:STO) have received an average recommendation of “Hold” from the seventeen ratings firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $17.67.

A number of research firms have recently commented on STO. Societe Generale downgraded shares of Statoil ASA from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. BidaskClub raised shares of Statoil ASA from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 13th. Tudor Pickering downgraded shares of Statoil ASA from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Zacks Investment Research downgraded shares of Statoil ASA from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Scotiabank reaffirmed a “hold” rating and set a $17.00 price objective on shares of Statoil ASA in a research note on Friday, June 9th.

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Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its stake in shares of Statoil ASA by 39.5% during the 2nd quarter. Advisor Group Inc. now owns 7,995 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 2,262 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Statoil ASA during the 2nd quarter valued at approximately $132,000. PNC Financial Services Group Inc. boosted its stake in shares of Statoil ASA by 17.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,469 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 1,402 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Statoil ASA during the 2nd quarter valued at approximately $168,000. Finally, Pacad Investment Ltd. boosted its stake 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 buying an additional 800 shares during the last quarter. Institutional investors own 5.02% of the company’s stock.

Statoil ASA (NYSE:STO) traded up 0.37% during midday trading on Wednesday, reaching $19.03. 939,983 shares of the company traded hands. The firm’s market capitalization is $61.62 billion. The company’s 50-day moving average price is $18.58 and its 200 day moving average price is $17.50. Statoil ASA has a 12 month low of $14.98 and a 12 month high of $19.29.

About Statoil ASA

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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