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Rating: STO
up 7.00 %

Statoil Asa (NYSE: STO) downgraded to Neutral by Swedbank

Thursday,  Mar 6, 2014  8:25 AM ET by Dave Ficere

Swedbank downgraded Statoil Asa (NYSE: STO) to Neutral. Previously Swedbank rated Buy Statoil Asa (NYSE: STO) on 02/10/2014, when the
stock price was $25.35. Since then, Statoil Asa's stock price has gained 7% as of 03/06/2014's recent price of $27.17.
If you would have followed the previous Swedbank's recommendation on STO, you would have gained 7% of your investment in 24 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.


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