Statoil ASA (STO) : 3 Wall Street analysts covering Statoil ASA (STO) believe that the average level the stock could reach for the short term is $17.83. The maximum price target given is $19 and the minimum target for short term is around $17, hence the standard deviation is calculated at $0.76.
Statoil ASA (STO) : 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 3 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Statoil ASA (STO). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 5 Wall Street Analysts endorse the stock as a Hold with a rating of 3.
Also, Equity analysts at the Brokerage firm DNB Markets upgrades its rating on Statoil ASA (NYSE:STO). The rating major has initiated the coverage with buy rating on the shares. Earlier, the shares were rated a Hold by the brokerage firm. The rating by the firm was issued on July 28, 2016.
Statoil ASA (NYSE:STO): The stock opened at $15.53 on Thursday but the bulls could not build on the opening and the stock topped out at $15.56 for the day. The stock traded down to $15.34 during the day, due to lack of any buying support eventually closed down at $15.45 with a loss of -1.28% for the day. The stock had closed at $15.65 on the previous day. The total traded volume was 3,061,416 shares.
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.