Statoil ASA (STO) Stock Price Down 2.8%
Statoil ASA (NYSE:STO)’s share price traded down 2.8% during mid-day trading on Friday . The company traded as low as $16.83 and last traded at $16.84, with a volume of 1,486,633 shares changing hands. The stock had previously closed at $17.32.
Several equities research analysts recently issued reports on the company. Morgan Stanley lowered Statoil ASA from an “overweight” rating to an “equal weight” rating in a research report on Thursday. Bank of America Corp. raised Statoil ASA from an “underperform” rating to a “neutral” rating in a research report on Friday, July 15th. Zacks Investment Research lowered Statoil ASA from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. Societe Generale raised Statoil ASA from a “hold” rating to a “buy” rating in a research report on Wednesday, July 6th. Finally, Deutsche Bank AG lowered Statoil ASA from a “hold” rating to a “sell” rating and upped their price target for the company from $16.43 to $16.64 in a research report on Tuesday, June 21st. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Statoil ASA presently has a consensus rating of “Hold” and a consensus target price of $16.13.
The firm has a market capitalization of $53.61 billion and a P/E ratio of 83.05. The stock has a 50-day moving average of $16.84 and a 200-day moving average of $15.40.
Statoil ASA (NYSE:STO) last released its earnings results on Wednesday, April 27th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.22. Equities analysts expect that Statoil ASA will post $0.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Thursday, August 11th will be issued a $0.2201 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Wednesday, August 10th.
A number of hedge funds have added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its stake in Statoil ASA by 44.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 74,120 shares of the company’s stock worth $1,035,000 after buying an additional 22,734 shares during the period. TSP Capital Management Group LLC raised its stake in Statoil ASA by 11.1% in the fourth quarter. TSP Capital Management Group LLC now owns 111,740 shares of the company’s stock worth $1,560,000 after buying an additional 11,200 shares during the period. Finally, Russell Frank Co acquired a new stake in Statoil ASA during the fourth quarter worth about $1,795,000.
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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