Norwegian oil and gas giant Statoil (NYSE:STO) announced first quarter 2013 results that disappointed analysts. The company's results missed the Street's estimate by 12% although it only missed the Zacks' estimate by 6.35%. This is likely one reason for the recent pressure on the ADR price. There are other reasons too which will be discussed later in this article. However, none of these things changes the long-term fundamentals for the company which remain remarkably similar to what they have been for quite some time.
Here are the highlights from the company's first quarter results:
|FREE||SA PRO MEMBERS|
|IDEA GENERATOR||X||Exclusive access to 10 PRO ideas every day|
|INVESTING IDEAS LIBRARY||X||Exclusive access to PRO library of more than 15,000 ideas|
|SECTOR EXPERT NETWORK||X||Exclusive access to all sector experts for direct consultation|
|PERFORMANCE TRACKING||X||Track performance of all PRO stock ideas|
|PROFESSIONAL TOOLS||X||Professional Idea Filters to zero-in based on industry, market cap and more|