Market Runner: Is Buying 52-Week Stock Like Statoil ASA(ADR) a Winning Strategy?

Market Runner: Is Buying 52 Week Stock Like Statoil ASA(ADR) a Winning Strategy?

The stock of Statoil ASA(ADR) (NYSE:STO) hit a new 52-week high and has $19.39 target or 9.00% above today’s $17.79 share price. The 7 months bullish chart indicates low risk for the $60.06 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $19.39 price target is reached, the company will be worth $5.41 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 2.24% or $0.39 during the last trading session, hitting $17.79. About 4.49 million shares traded hands or 48.18% up from the average. Statoil ASA(ADR) (NYSE:STO) has declined 1.19% since April 28, 2016 and is downtrending. It has underperformed by 7.12% the S&P500.

Analysts await Statoil ASA(ADR) (NYSE:STO) to report earnings on February, 2.

Statoil ASA(ADR) (NYSE:STO) Ratings Coverage

Out of 12 analysts covering Statoil Asa (NYSE:STO), 4 rate it a “Buy”, 4 “Sell”, while 4 “Hold”. This means 33% are positive. Statoil Asa has been the topic of 14 analyst reports since September 11, 2015 according to StockzIntelligence Inc. RBC Capital Markets downgraded the shares of STO in a report on Tuesday, May 31 to “Underperform” rating. Morgan Stanley downgraded the stock to “Equal-Weight” rating in Friday, July 22 report. The company was downgraded on Wednesday, March 9 by Swedbank. The firm has “Neutral” rating given on Thursday, January 21 by Simmons & Co. The firm has “Hold” rating given on Friday, March 11 by SEB Equity Research. The firm has “Underperform” rating given on Friday, September 11 by Jefferies. The stock of Statoil ASA(ADR) (NYSE:STO) earned “Neutral” rating by HSBC on Thursday, May 26. The stock of Statoil ASA(ADR) (NYSE:STO) earned “Buy” rating by Bank of America on Friday, September 16. The firm has “Sector Outperform” rating by Howard Weil given on Monday, October 12. The stock of Statoil ASA(ADR) (NYSE:STO) earned “Outperform” rating by Credit Agricole on Tuesday, December 15.

According to Zacks Investment Research, “Statoil is an integrated oil and gas company. One of the world’s biggest sellers of crude oil, Statoil is also a major supplier of natural gas in the European market and has substantial industrial operations. The group has service stations in the Scandinavian countries, Ireland, Poland, the Baltic states and Russia. Statoil is one of the world’s most environmentally-efficient producers and transporters of oil and gas.”

Another recent and important Statoil ASA(ADR) (NYSE:STO) news was published by Marketwatch.com which published an article titled: “Statoil upgraded to sector perform from underperform at RBC Capital” on June 05, 2009.

STO Company Profile

Statoil ASA, incorporated on March 12, 1995, is a technology-driven energy company. The Firm is engaged in gas and oil exploration and production activities. The Company’s divisions 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 is engaged in the development and production of gas and oil outside the NCS. MMP comprises marketing and trading of oil products and natural gas, transportation, processing and manufacturing, and the development of gas and oil value chains. 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 New Energy Solutions (NES), Technology, Projects and Drilling (TPD), Global Strategy and Business Development (GSB), and Corporate staffs and support functions.

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