Short Term Price Target on Statoil ASA (STO)

Statoil ASA (NYSE:STO) stock is expected to deviate a maximum of $1.73 from the average target price of $15 for the short term period. 3 Street Experts have initiated coverage on the stock with the most promising target being $16 and the most muted being $13.

Statoil ASA has dropped 0.52% in the last five trading days, however, the shares have posted positive gains of 8.59% in the last 4 weeks. Statoil ASA is up 15.57% in the last 3-month period. Year-to-Date the stock performance stands at 27.73%.

Statoil ASA (NYSE:STO) : Zacks Investment Research ranks Statoil ASA (NYSE:STO) as 3, which is a Hold recommendation. 1 other analysts are mildly bullish on the stock and favor a Buy. Not everyone is convinced about the stocks future, hence, the stock receives 2 Sell recommendation. A total of 2 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 5 research analysts is 3.2, which indicates as a Hold.

Statoil ASA (NYSE:STO): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $17.17 and $17.09 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $17.37. The buying momentum continued till the end and the stock did not give up its gains. It closed at $17.31, notching a gain of 2.61% for the day. The total traded volume was 3,149,613 . The stock had closed at $16.87 on the previous day.

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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