Statoil ASA (NYSE:STO) received a $16.00 target price from research analysts at Piper Jaffray Companies in a research note issued on Friday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Piper Jaffray Companies’ price objective suggests a potential downside of 14.58% from the company’s current price.

A number of other equities analysts also recently weighed in on STO. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating on shares of Statoil ASA in a research note on Friday, May 5th. Scotiabank set a $17.00 price target on shares of Statoil ASA and gave the stock a “hold” rating in a research note on Monday, May 8th. Zacks Investment Research raised shares of Statoil ASA from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Wednesday, May 10th. BMO Capital Markets raised shares of Statoil ASA from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 25th. Finally, BidaskClub raised shares of Statoil ASA from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. Statoil ASA presently has an average rating of “Hold” and an average price target of $18.00.

Shares of Statoil ASA (STO) opened at 18.73 on Friday. The stock’s market capitalization is $60.65 billion. Statoil ASA has a one year low of $14.98 and a one year high of $19.27. The stock has a 50 day moving average price of $18.01 and a 200 day moving average price of $17.43.

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Institutional investors have recently modified their holdings of the stock. Folketrygdfondet increased its stake in Statoil ASA by 0.9% in the first quarter. Folketrygdfondet now owns 119,174,942 shares of the oil and gas company’s stock valued at $2,047,426,000 after buying an additional 1,086,176 shares during the period. Renaissance Technologies LLC increased its stake in Statoil ASA by 36.1% in the second quarter. Renaissance Technologies LLC now owns 6,330,576 shares of the oil and gas company’s stock valued at $104,644,000 after buying an additional 1,680,032 shares during the period. Bank of America Corp DE increased its stake in Statoil ASA by 40.0% in the first quarter. Bank of America Corp DE now owns 3,344,260 shares of the oil and gas company’s stock valued at $57,455,000 after buying an additional 955,727 shares during the period. Sei Investments Co. increased its stake in Statoil ASA by 93.8% in the second quarter. Sei Investments Co. now owns 2,010,897 shares of the oil and gas company’s stock valued at $33,241,000 after buying an additional 973,529 shares during the period. Finally, State Street Corp increased its stake in Statoil ASA by 1.9% in the second quarter. State Street Corp now owns 1,590,002 shares of the oil and gas company’s stock valued at $26,283,000 after buying an additional 28,916 shares during the period. 4.97% of the stock is currently owned by institutional investors and hedge funds.

About Statoil ASA

Statoil ASA (Statoil) 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 International (DPI), Marketing, Midstream and Processing (MMP) and Other. DPN segment manages the Company’s upstream activities on the Norwegian continental shelf (NCS) and explores for and extracts crude oil, natural gas and natural gas liquids.

Analyst Recommendations for Statoil ASA (NYSE:STO)

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