Statoil (STO) Shares Gap Up Following Dividend Announcement

Statoil (NYSE:STO) shares gapped up before the market opened on Thursday following a dividend announcement from the company. The stock had previously closed at $23.95, but opened at $24.96. Statoil shares last traded at $25.98, with a volume of 2767228 shares traded.

The newly announced dividend which will be paid on Thursday, August 30th. Shareholders of record on Wednesday, August 22nd will be paid a $0.23 dividend. This is a boost from Statoil’s previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, August 21st. This represents a $0.92 annualized dividend and a yield of 3.54%. Statoil’s payout ratio is presently 39.13%.

Several equities research analysts have commented on STO shares. ValuEngine upgraded Statoil from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Royal Bank of Canada upgraded Statoil from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 2nd. Macquarie upgraded Statoil from an “underperform” rating to a “neutral” rating in a research note on Wednesday, January 10th. Credit Suisse Group upgraded Statoil from an “underperform” rating to an “outperform” rating in a research note on Wednesday, January 24th. Finally, Goldman Sachs upgraded Statoil from a “sell” rating to a “neutral” rating in a research note on Thursday, February 1st. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $24.00.

The stock has a market capitalization of $84,242.28, a price-to-earnings ratio of 18.83, a P/E/G ratio of 1.49 and a beta of 0.94. The company has a quick ratio of 1.18, a current ratio of 1.36 and a debt-to-equity ratio of 0.61.

Statoil (NYSE:STO) last posted its quarterly earnings results on Wednesday, February 7th. The oil and gas company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.05. The firm had revenue of $17.11 billion for the quarter. Statoil had a return on equity of 11.86% and a net margin of 7.50%. equities research analysts predict that Statoil will post 1.57 earnings per share for the current year.

Several large investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. increased its position in shares of Statoil by 2.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 126,621 shares of the oil and gas company’s stock worth $2,712,000 after purchasing an additional 3,165 shares during the last quarter. ETRADE Capital Management LLC increased its position in shares of Statoil by 13.5% during the 4th quarter. ETRADE Capital Management LLC now owns 29,013 shares of the oil and gas company’s stock worth $621,000 after purchasing an additional 3,459 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Statoil by 0.9% during the 4th quarter. UBS Asset Management Americas Inc. now owns 552,043 shares of the oil and gas company’s stock worth $11,825,000 after purchasing an additional 4,697 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Statoil by 92.1% during the 4th quarter. Clearbridge Investments LLC now owns 10,816 shares of the oil and gas company’s stock worth $232,000 after purchasing an additional 5,185 shares during the last quarter. Finally, Baker Ellis Asset Management LLC acquired a new position in shares of Statoil during the 4th quarter worth approximately $131,000. 5.09% of the stock is currently owned by hedge funds and other institutional investors.

About Statoil

Statoil ASA, an energy company, explores for, produces, transports, refines, and markets petroleum and petroleum-derived products, and other forms of energy in Norway and internationally. The company operates through Development and Production Norway; Development and Production International; Marketing, Midstream and Processing; and Other segments.

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