WealthTrust Axiom LLC Reduces Position in Statoil ASA (STO)
WealthTrust Axiom LLC cut its position in shares of Statoil ASA (NYSE:STO) by 4.4% during the second quarter, Holdings Channel reports. The institutional investor owned 139,834 shares of the company’s stock after selling 6,391 shares during the period. WealthTrust Axiom LLC’s holdings in Statoil ASA were worth $2,420,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the stock. Raymond James Trust N.A. increased its stake in shares of Statoil ASA by 13.3% in the first quarter. Raymond James Trust N.A. now owns 22,421 shares of the company’s stock worth $349,000 after buying an additional 2,637 shares in the last quarter. Sanders Morris Harris Inc. bought a new stake in shares of Statoil ASA during the first quarter worth about $2,661,000. Commonwealth Equity Services Inc increased its stake in shares of Statoil ASA by 12.2% in the first quarter. Commonwealth Equity Services Inc now owns 26,183 shares of the company’s stock worth $407,000 after buying an additional 2,839 shares in the last quarter. Pacad Investment Ltd. increased its stake in shares of Statoil ASA by 91.5% in the first quarter. Pacad Investment Ltd. now owns 45,006 shares of the company’s stock worth $700,000 after buying an additional 21,506 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in shares of Statoil ASA during the first quarter worth about $234,000. Institutional investors own 5.33% of the company’s stock.
Statoil ASA (NYSE:STO) traded up 2.73% during trading on Thursday, hitting $15.83. 4,976,819 shares of the company were exchanged. The company’s market capitalization is $50.36 billion. Statoil ASA has a 12 month low of $10.89 and a 12 month high of $17.94. The stock’s 50-day moving average is $15.89 and its 200-day moving average is $16.21.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Thursday, November 3rd will be given a dividend of $0.2201 per share. This represents a $0.88 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date is Tuesday, November 1st. Statoil ASA’s dividend payout ratio is presently -229.72%.
A number of analysts have issued reports on STO shares. HSBC downgraded shares of Statoil ASA from a “buy” rating to a “hold” rating in a report on Thursday, May 26th. TheStreet raised shares of Statoil ASA to a “hold” rating in a research note on Thursday, May 26th. Royal Bank Of Canada cut shares of Statoil ASA from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, May 31st. Zacks Investment Research cut shares of Statoil ASA from a “buy” rating to a “hold” rating in a research note on Wednesday, June 8th. Finally, Deutsche Bank AG cut shares of Statoil ASA from a “hold” rating to a “sell” rating and lifted their price objective for the stock from $16.43 to $16.64 in a research note on Tuesday, June 21st. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The company currently 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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