Price Target Update on Statoil ASA (NYSE:STO)

Statoil ASA (NYSE:STO) has been rated by 3 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $16 and the lowest price target forecast is $13. The average forecast of all the analysts is $15 and the expected standard deviation is $1.73.

Other Equity analysts have also commented on the company shares. In the latest statement by the brokerage house, RBC Capital downgrades its outlook on Statoil ASA (NYSE:STO). The current rating of the shares is Underperform, according to the research report released by the firm. Previously, the company had a rating of Sector Perform. The rating by the firm was issued on May 31, 2016.

Statoil ASA (NYSE:STO): stock turned positive on Thursday. Though the stock opened at $17.38, the bulls momentum made the stock top out at $17.4 level for the day. The stock recorded a low of $17.14 and closed the trading day at $17.4, in the green by 4.88%. The total traded volume for the day was 2,534,452. The stock had closed at $16.59 in the previous days trading.

The company shares have dropped -9.39% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $18.60 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $16.40 and the 200 Day Moving Average price is recorded at $14.97.

Statoil ASA is an energy company. The Company is engaged in oil and gas exploration and production activities. The Companys 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.

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