Citigroup Inc. Lowers Statoil ASA (STO) to Neutral

Citigroup Inc. downgraded shares of Statoil ASA (NYSE:STO) from a buy rating to a neutral rating in a research note released on Monday, MarketBeat Ratings reports.

A number of other research firms also recently weighed in on STO. BNP Paribas upgraded Statoil ASA from an underperform rating to a neutral rating in a research report on Tuesday, September 26th. Tudor Pickering downgraded Statoil ASA from a buy rating to a hold rating in a research report on Tuesday, September 5th. Deutsche Bank AG upgraded Statoil ASA from a sell rating to a hold rating in a research report on Monday, September 4th. BidaskClub upgraded Statoil ASA from a hold rating to a buy rating in a research report on Saturday, August 26th. Finally, Scotiabank set a $17.00 price objective on Statoil ASA and gave the company a hold rating in a research report on Friday, August 25th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Statoil ASA presently has an average rating of Hold and an average price target of $18.33.

TRADEMARK VIOLATION WARNING: “Citigroup Inc. Lowers Statoil ASA (STO) to Neutral” was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this piece on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be read at https://sportsperspectives.com/2017/11/02/citigroup-inc-lowers-statoil-asa-sto-to-neutral.html.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. purchased a new stake in shares of Statoil ASA in the third quarter valued at $2,480,000. Duff & Phelps Investment Management Co. lifted its holdings in shares of Statoil ASA by 8.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 350,563 shares of the oil and gas company’s stock valued at $7,045,000 after purchasing an additional 27,435 shares in the last quarter. Aperio Group LLC lifted its holdings in shares of Statoil ASA by 4.6% in the third quarter. Aperio Group LLC now owns 696,361 shares of the oil and gas company’s stock valued at $13,990,000 after purchasing an additional 30,423 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Statoil ASA by 103.0% in the third quarter. First Trust Advisors LP now owns 44,630 shares of the oil and gas company’s stock valued at $897,000 after purchasing an additional 22,643 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Statoil ASA in the third quarter valued at $472,000. Institutional investors own 5.02% of the company’s stock.

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)

Receive News & Ratings for Statoil ASA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Statoil ASA and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply