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Statoil Asa (STO) [hlAlert]

Rating:
Underweight
STO
down 0.30 %

Statoil Asa (STO) downgraded to Underweight by HSBC Securities

Posted on: Friday,  Dec 6, 2013  8:25 AM ET by HSBC Securities

HSBC Securities rated Underweight Statoil Asa (NYSE: STO) on 12/06/2013. Previously HSBC Securities rated Overweight Statoil Asa (NYSE: STO) on 05/31/2013.,
when the stock price was $22.82. Since then, Statoil Asa has lost 0.31% as of 12/06/2013's recent price of $22.75.
If you would have followed the previous HSBC Securities's recommendation on STO, you would have lost 0.3% of your investment in 189 days.

Statoil ASA (Statoil), formerly StatoilHydro ASA (StatoilHydro), is an integrated oil and gas company based in Norway with locations in approximately 40 other countries worldwide. As of December 31, 2008, the Company had proved reserves (including its share of reserves in affiliated companies of 127 million barrels (mmbbl) of oil) of 2201 mmbbl of oil and 537.8 billion cubic meters (bcm) (equivalent to 19 trillion cubic feet (tcf)) of natural gas, corresponding to aggregate proved reserves of 5584 million barrels of oil equivalent (mmboe). The Company operates in four business segments: Exploration and Production Norway (EPN), International Exploration and Production (INT), Natural Gas (NG) and Manufacturing and Marketing (M&M). In June 2008, Dala Kraft AB announced that it has acquired Statoil ASA?s subsidiary Hydro Energi AB. In December 2008, Anadarko Petroleum Corporation completed the sale of its 50% interest in the Peregrino heavy-oil field offshore Brazil to Statoil.

HSBC has refined and refocused its Global Equities organisation, creating a lean and flexible business model built to meet the needs of global issuers and investors today and in the future. Acknowledging the changing demands of clients, we have also refined our research model, moving away from traditional maintenance to focus on long term, thematic research (a two-year-plus horizon) combined with short term (zero to three months), real-time, actionable ideas both for companies and sectors.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
12/6/2013 8:25 AM Sell
None
22.75
as of 12/13/2013
1 Week up  1.35 %
1 Month up  1.80 %
3 Months up  0.96 %
1 YTD down  -3.01 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
5/31/2013 8:25 AM Buy
None
22.82
2/19/2013 8:25 AM Hold
None
25.96
10/31/2012 8:25 AM Sell
None
24.79
1/24/2011 8:25 AM Buy
None
24.43
5/15/2008 8:25 AM Hold
None
39.98

(*) Stock Price at the time of the recommendation.
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