Statoil ASA (NYSE:STO) – Equities research analysts at Jefferies Group lowered their FY2017 EPS estimates for Statoil ASA in a report released on Tuesday. Jefferies Group analyst M. Kofler now expects that the firm will post earnings of $0.85 per share for the year, down from their prior forecast of $0.86. Jefferies Group also issued estimates for Statoil ASA’s FY2018 earnings at $1.31 EPS.
A number of other analysts have also recently issued reports on STO. Deutsche Bank AG cut Statoil ASA from a “hold” rating to a “sell” rating and lifted their price objective for the company from $16.43 to $16.64 in a research report on Tuesday, June 21st. Zacks Investment Research raised Statoil ASA from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Thursday, June 23rd. Societe Generale raised 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 report on Friday, July 15th. Finally, Morgan Stanley lowered Statoil ASA from an “overweight” rating to an “equal weight” rating in a report on Thursday, July 21st. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $15.53.
Statoil ASA (NYSE:STO) traded down 0.71% on Thursday, reaching $16.75. The company’s stock had a trading volume of 1,703,269 shares. The stock’s 50 day moving average is $16.04 and its 200-day moving average is $16.31. Statoil ASA has a 52 week low of $10.89 and a 52 week high of $17.94. The firm’s market capitalization is $53.28 billion.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Thursday, November 3rd will be paid a dividend of $0.2201 per share. The ex-dividend date is Tuesday, November 1st. This represents a $0.88 annualized dividend and a yield of 5.26%. Statoil ASA’s dividend payout ratio is -229.72%.
A number of institutional investors have recently modified their holdings of the stock. Advisor Group Inc. purchased a new position in shares of Statoil ASA during the second quarter valued at about $125,000. Cubist Systematic Strategies LLC purchased a new position in shares of Statoil ASA during the second quarter valued at about $225,000. Creative Planning raised its position in shares of Statoil ASA by 6.3% in the third quarter. Creative Planning now owns 13,819 shares of the company’s stock valued at $232,000 after buying an additional 816 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Statoil ASA during the first quarter valued at about $234,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Statoil ASA during the second quarter valued at about $242,000. Hedge funds and other institutional investors own 5.33% of the company’s stock.
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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