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Bull of the Day: Statoil (STO)

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03/06/2018 | 08:26pm CEST

Commodity prices have been on the move in recent weeks. Part of that move can be attributed to a weakening US dollar but another big chunk of that is chalked up to increased global demand. With the world economy humming along on all cylinders, demand for energy is on the move. Not only has crude oil been on the move, but other energy prices have been increasing as well. The cold start to winter has natural gas on the move and that's good news for producers like today's Bull of the Day.

Statoil ASA (STO) is a Zacks Rank #1 (Strong Buy) in an industry which ranks in the Top 8% of our Zacks Industry Rank. Statoil ASA, an energy company, explores for, produces, transports, refines, and markets petroleum and petroleum-derived products, and other forms of energy in Norway and internationally. The company operates through Development and Production Norway; Development and Production International; Marketing, Midstream and Processing; and Other segments. The company also transports, processes, manufactures, markets, and trades oil and gas commodities, such as crude, condensate, gas liquids, products, natural gas, and liquefied natural gas (LNG); markets and trades electricity and emission rights; and operates refineries, gas processing plants, LNG plant, methanol plant, and crude oil terminals. In addition, the company develops offshore wind, and carbon capture and storage projects, as well as offers other renewable energy and low-carbon energy solutions. 

A series of bullish earnings estimate revisions is the reason for the favorable rank. Over the last sixty days, 3 analysts have increased their estimates for the current year, while one has also done so for next year. The moves have had a very bullish effect on the Zacks Consensus Estimates for those periods. The current year consensus number has jumped up from $1.10 to $1.52 while next year's number has gone from $1.07 all the way to $1.44.

The bullish moves have helped underpin a move in the stock. After ripping to a new 52-week high over $24 the stock sold off to find support after over-shooting the 50-day moving average. A recent spate of buying along the 50-day now has the stock up at $22.79. Another run at the highs could be in the cards as the weather warms and demand for crude heats up.

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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Statoil ASA (STO): Free Stock Analysis Report To read this article on Zacks.com click here.

© Copyright iCrowdNewswire LLC 2018., source Press Releases

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Financials ($)
Sales 2018 76 844 M
EBIT 2018 18 911 M
Net income 2018 6 184 M
Debt 2018 13 587 M
Yield 2018 3,44%
P/E ratio 2018 14,69
P/E ratio 2019 12,49
EV / Sales 2018 1,33x
EV / Sales 2019 1,23x
Capitalization 88 851 M
Duration : Period :
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Technical analysis trends EQUINOR
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 31
Average target price 28,2 $
Spread / Average Target 6,0%
EPS Revisions
Eldar Sætre President & Chief Executive Officer
Jon Erik Reinhardsen Chairman
Jannicke Nilsson Chief Operating Officer & Executive Vice President
Lars Christian Bacher Chief Financial Officer
Margareth Øvrum Executive VP-Technology, Projects & Drilling
Sector and Competitors
1st jan.Capitalization (M$)
EQUINOR23.69%88 851
TOTAL19.23%172 233
NK ROSNEFT' PAO--.--%70 479