Seeking Alpha

Statoil upgraded to Buy at Deutsche Bank, but shares slip

  • Statoil (STO -0.9%) is upgraded to Buy from Hold at Deutsche Bank, which says STO stands out relative to other oil majors with the greatest bias to upstream and attractive reinvestment returns.
  • DB sees scope for a 65% value uplift (40% NAV accretion, 25% yield) within five years, which seems underappreciated as shares trade at a 7% discount to peers, and STO Statoil offers investors twice the leverage to exploration as its major peers.
  • The firm eye six field start-ups in 2014 driving the next wave of growth, plus potential from frontier exploration offshore Angola.
Comments (3)
  • Michael Fitzsimmons
    , contributor
    Comments (8085) | Send Message
     
    What company found more oil and gas in 2013 than any other? You guessed it - StatOil (STO):

     

    http://seekingalpha.co...
    17 Jan, 03:03 PM Reply Like
  • osooro
    , contributor
    Comments (50) | Send Message
     
    STO always seems to disappoint in the way the share price under performs. I think it is because investors don't like the Norwegian government owning such a large share of the company and the way this company has to pay such enormous taxes. The company itself seems to be innovative and well run, but the business structure goes against the grain of most investors.
    17 Jan, 03:25 PM Reply Like
  • osooro
    , contributor
    Comments (50) | Send Message
     
    STO always seems to disappoint in the way the share price under performs. I think it is because investors don't like the Norwegian government owning such a large share of the company and the way this company has to pay such enormous taxes. The company itself seems to be innovative and well run, but the business structure goes against the grain of most investors.
    17 Jan, 03:25 PM Reply Like
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