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Bank of America (Merrill Lynch) upgraded Statoil Asa (NYSE:STO) from Neutral to Buy in a report released today.

Displaying a price of $15.10, Statoil Asa (NYSE:STO) traded 0.59% lower on the day. With the last stock price close down 6.89% from the 200-day average, compared with the Standard & Poor’s 500 Index which has decreased -0.01% over the date range. STO has registered a 50-day average of $15.94 and two hundred day moving average of $16.21. Volume of trade was was down over the average, with 494,044 shares of STO changing hands under the typical 2,447,880 shares.

Bank of America (Merrill Lynch) has upgraded Statoil Asa(NYSE:STO) from Neutral to Buy in a statement released Friday September 16 2016.

Recent Performance Graphic:

Statoil Asa (NYSE:STO)

Also covering Statoil Asa’s target price, a total of 6 firms have reported on the company. The consensus target price is $16.59 with two firms rating the stock a strong buy, 0 rating the stock a buy, three analysts rating the stock a hold, one analyst rating the company to underperform, and finally 0 firms rating the company as sell.

With a total market value of $0.0, Statoil Asa has a one-year low of $10.89 and a one-year high of $17.94 with a price-earnings ratio of 0.

Brief Synopsis On Statoil Asa (NYSE:STO)

Statoil ASA is an energy company, engaged in oil and gas exploration and production activities. The Company’s segments include Development and Production Norway (DPN), Development and Production USA (DPUSA), Development and Production International (DPI), Marketing, Midstream and Processing (MMP), New Energy Solutions (NES), and Other. DPN comprises upstream activities on the Norwegian continental shelf (NCS). DPUSA comprises its upstream activities in the United States and Mexico. DPI develops and produces oil and gas outside the NCS. MMP comprises marketing and trading of oil products and natural gas, transportation, processing and manufacturing. NES is responsible for wind parks, carbon capture and storage, as well as other renewable energy and low-carbon energy solutions. The Other reporting segment includes activities in Technology, Projects and Drilling (TPD), Global Strategy and Business Development (GSB), and and Corporate staffs and support functions.

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