NEW YORK (TheStreet) -- Shares of Statoil (STO) are slipping, down 4.79% to $17.11 in late morning trading Tuesday, as the dollar continues to strengthen after touching a near 12 year high against the euro, and an eight year high against the yen.

Oil stocks are declining today after  Brent crude fell to $57 a barrel at 9:29 a.m. ET this morning, due to a strong dollar as well as the supply glut.

Demand in China, the world's second-largest oil consumer, declined during the month of February as the Chinese Lunar New Year holiday cut into shipping volumes.

WTI crude for April delivery was trading down 0.78% to $49.61 a barrel as of 10:57 a.m. ET today, while Brent crude was similarly down 2.14% to $57.28 a barrel.

Norway-based Statoil is an energy company engaged in oil and gas exploration and production activities.

The company's operations are managed through operating segments, including DPN, development and production Norway, which consists of exploration, field development and operational activities on the Norwegian continental shelf.

Separately, TheStreet Ratings team rates STATOIL ASA as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate STATOIL ASA (STO) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• The current debt-to-equity ratio, 0.54, is low and is below the industry average, implying that there has been successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.26, which illustrates the ability to avoid short-term cash problems.
• 40.18% is the gross profit margin for STATOIL ASA which we consider to be strong. Regardless of STO's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, STO's net profit margin of -19.19% significantly underperformed when compared to the industry average.
• Net operating cash flow has decreased to $1,513.02 million or 33.51% when compared to the same quarter last year. In addition, when comparing the cash generation rate to the industry average, the firm's growth is significantly lower.
• Current return on equity is lower than its ROE from the same quarter one year prior. This is a clear sign of weakness within the company. In comparison to the other companies in the Oil, Gas & Consumable Fuels industry and the overall market, STATOIL ASA's return on equity is significantly below that of the industry average and is below that of the S&P 500.
• You can view the full analysis from the report here: STO Ratings Report