NEW YORK ( TheStreet) -TheStreet Ratings' stock model upgraded Statoil Asa ( STO) to 'Buy' from 'Hold'. Net income at this $67.9 billion market cap, integrated petroleum producer jumped by 91.2% to $2.6 billion in the third quarter compared to the same quarter last year.

TheStreet Ratings released rating changes on 41 U.S. common stocks for November 8, 2010. In total, eight stocks were downgraded and 33 stocks have been upgraded by our stock model.

In the third quarter, gross revenue at Statoil grew by just 2.0% to $25.3 billion over the prior third quarter. Learn more about Statoil: Company Profile, Income Statement, Balance Sheet, Stock Ratios, Analyst Ratings.

$3.1 billion market cap, propane distribution company, Inergy LP ( NRGY) was upgraded to 'Buy' from 'Hold'. In third quarter results for Inergy gross revenue increased by 24.1% to $291.6 million while the company's bottom line gained 31.9% to $12.4 million over the year earlier quarter. Learn more about Inergy: Company Profile, Income Statement, Balance Sheet, Stock Ratios, Analyst Ratings.

-- Reported by Kevin Baker in Jupiter, Fla.

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Kevin Baker became the senior financial analyst for TheStreet Ratings upon the August 2006 acquisition of Weiss Ratings by TheStreet.com, covering mutual funds. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.