Bank of New York Mellon Corp raised its stake in Statoil ASA (NYSE:STO) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,983 shares of the company’s stock after buying an additional 1,491 shares during the period. Bank of New York Mellon Corp’s holdings in Statoil ASA were worth $2,024,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of STO. Fox Run Management L.L.C. purchased a new stake in Statoil ASA during the second quarter worth about $242,000. BlackRock Inc. purchased a new stake in Statoil ASA during the first quarter worth about $234,000. Checchi Capital Advisers LLC boosted its stake in Statoil ASA by 3.2% in the second quarter. Checchi Capital Advisers LLC now owns 17,389 shares of the company’s stock worth $301,000 after buying an additional 533 shares in the last quarter. Geode Capital Management LLC boosted its stake in Statoil ASA by 57.6% in the first quarter. Geode Capital Management LLC now owns 19,677 shares of the company’s stock worth $306,000 after buying an additional 7,195 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its stake in Statoil ASA by 2.9% in the second quarter. Raymond James Trust N.A. now owns 23,082 shares of the company’s stock worth $400,000 after buying an additional 661 shares in the last quarter. 5.33% of the stock is currently owned by institutional investors.
Shares of Statoil ASA (NYSE:STO) traded up 0.29% during midday trading on Thursday, hitting $17.10. The company’s stock had a trading volume of 1,107,944 shares. The company’s market cap is $54.40 billion. Statoil ASA has a 1-year low of $10.89 and a 1-year high of $17.94. The company has a 50-day moving average price of $15.94 and a 200 day moving average price of $16.26.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Thursday, November 3rd will be issued a $0.2201 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date is Tuesday, November 1st. Statoil ASA’s dividend payout ratio is presently -229.72%.
A number of analysts have recently issued reports on STO shares. Zacks Investment Research cut Statoil ASA from a “buy” rating to a “hold” rating in a research report on Wednesday, June 8th. Deutsche Bank AG cut Statoil ASA from a “hold” rating to a “sell” rating and boosted their price objective for the company from $16.43 to $16.64 in a research report on Tuesday, June 21st. Societe Generale upgraded Statoil ASA from a “hold” rating to a “buy” rating in a research report on Wednesday, July 6th. Bank of America Corp. upgraded Statoil ASA from an “underperform” rating to a “neutral” rating in a research report on Friday, July 15th. Finally, Morgan Stanley cut Statoil ASA from an “overweight” rating to an “equal weight” rating in a research report on Thursday, July 21st. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Statoil ASA presently has a consensus rating of “Hold” and a consensus target price of $15.53.
About Statoil ASA
Statoil ASA is an energy company, engaged in oil and gas exploration and production activities. The Company’s segments include Development and Production Norway (DPN), Development and Production USA (DPUSA), Development and Production International (DPI), Marketing, Midstream and Processing (MMP), New Energy Solutions (NES), and Other.
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