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Stock In Focus: Statoil ASA (ADR) (NYSE:STO) by EpicStockPicks
(EMAILWIRE.COM, May 30, 2011 ) New York, NY -- Statoil ASA(ADR) (NYSE:STO) closed on Friday at $25.44 with a rise of 2% after trading in the range of $25.36 and $25.65. Its volume being 1.94 million was lower than the average of 2.07 million. Market cap of the Company remained at $81.12 billion with a Price Earnings ratio of 10.22. It has a moving average of 27.03. In the 52-week change it has witnessed a change of 24.08%.

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The Company, a Norwegian oil and gas firm, has witnessed an increased interest for renewables after the Fukushima nuclear disaster, but for green energy to compete with other investment opportunities and must play a bigger role in the company's future. The costs must come down as a consequence.

In the past year, the stock has hit a 52-week low of $18.39 and 52-week high of $29.67. Its stock has been showing support around $24.43 and resistance in the $25.29 range. The technical indicators for the stock are Bearish.

Statoil ASA (Statoil), formerly StatoilHydro ASA is an integrated energy company based in Norway with locations in approximately 40 other countries worldwide.

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