Statoil ASA(ADR) (STO) is Downgraded by RBC Capital Mkts to Underperform

Statoil ASA(ADR) (STO) was Downgraded by RBC Capital Mkts to ” Underperform”. Earlier the firm had a rating of “Sector Perform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on May 31, 2016.

Many Wall Street Analysts have commented on Statoil ASA(ADR). Statoil ASA(ADR) was Downgraded by HSBC Securities to ” Hold” on May 26, 2016. Shares were Downgraded by Scotia Howard Weil on Mar 11, 2016 to ” Sector Perform” and Lowered the Price Target to $ 16 from a previous price target of $17 .

Statoil ASA(ADR) closed down -0.29 points or -1.75% at $16.24 with 23,14,975 shares getting traded on Friday. Post opening the session at $16.33, the shares hit an intraday low of $16.16 and an intraday high of $16.37 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Investors should note that on Apr 27, 2016, Statoil ASA(ADR) announced a cash dividend of $0.2201. The company’s management has announced Aug 9, 2016 as the ex-dividend date and fixed the record date on Aug 11, 2016. The payable date has been fixed on Sep 23, 2016.

Statoil ASA 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 North America (DPNA) Development and Production International (DPI) Marketing Processing and Renewable Energy (MPR) and Other. The DPN segment consists of its exploration field development and operational activities on the Norwegian continental shelf (NCS). The DPI segment develops and produces oil and gas outside the NCS. The DPNA segment comprises of its upstream activities in North America. The MPR segment markets and trades crude oil natural gas power emissions liquids and refined products for transportation and processing and for developing business opportunities in renewables. The Other segment includes activities in Global Strategy and Business Development (GSB); Technology Projects and Drilling (TPD) and corporate staffs and support functions.

Statoil ASA(ADR)

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