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BofA Merrill upgraded Statoil ASA (NYSE:STO) from Neutral to Buy in a statement released earlier today.

BofA Merrill has upgraded Statoil ASA(NYSE:STO) from Neutral to Buy in a report released on Friday September 16 2016.

Only yesterday Statoil ASA (NYSE:STO) traded 0.59% lower at $15.18. The company’s 50-day moving average is $15.94 and its two hundred day average is $16.21. With the last stock close down 6.89% from the two hundred day average, compared to the Standard & Poor’s 500 Index which has fallen -0.01% over the date range. 494,044 shares of the stock were exchanged, down from ann average volume of 2,447,880.

Recent Performance Graphic:

Statoil ASA (NYSE:STO)

Statoil ASA has a one-year low of $10.89 and a one-year high of $17.94 and has a total market value of $0.0.

A total of 6 brokers have issued a research note on Statoil ASA. Two firms rate the company a strong buy, 0 rate the stock a buy, three firms rate the company a hold, one firm rate the stock to underperform, and lastly 0 analystsrate the company as sell with an average target of $16.59

About 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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