Statoil ASA(ADR) (STO) is Upgraded by BofA/Merrill to Buy

Statoil ASA(ADR) (STO) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Sep 16, 2016.

Many Wall Street Analysts have commented on Statoil ASA(ADR). Statoil ASA(ADR) was Downgraded by Morgan Stanley to ” Underweight” on Sep 9, 2016. Statoil ASA(ADR) was Upgraded by HSBC Securities to ” Buy” on Sep 7, 2016. Statoil ASA(ADR) was Downgraded by Morgan Stanley to ” Equal-Weight” on Jul 22, 2016.

Statoil ASA(ADR) closed down -0.08 points or -0.53% at $15.11 with 1,729,408 shares getting traded on Wednesday. Post opening the session at $15.15, the shares hit an intraday low of $15.06 and an intraday high of $15.39 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Investors should note that on Jul 27, 2016, Statoil ASA(ADR) announced a cash dividend of $0.2201. The company’s management has announced Nov 1, 2016 as the ex-dividend date and fixed the record date on Nov 3, 2016. The payable date has been fixed on Dec 16, 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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