Brokers Offer Predictions for Statoil ASA’s Q3 2016 Earnings (STO)
Statoil ASA (NYSE:STO) – Jefferies Group issued their Q3 2016 EPS estimates for shares of Statoil ASA in a research report issued on Tuesday. Jefferies Group analyst M. Kofler forecasts that the brokerage will post earnings per share of $0.09 for the quarter. Jefferies Group also issued estimates for Statoil ASA’s FY2016 earnings at $0.32 EPS.
Several other research analysts have also weighed in on STO. Zacks Investment Research lowered Statoil ASA from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. Deutsche Bank AG lowered Statoil ASA from a “hold” rating to a “sell” rating and increased their price objective for the company from $16.43 to $16.64 in a report on Tuesday, June 21st. Finally, DNB Markets raised Statoil ASA from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Statoil ASA presently has an average rating of “Hold” and an average price target of $15.53.
Shares of Statoil ASA (NYSE:STO) traded down 0.209% during midday trading on Friday, hitting $16.715. The stock had a trading volume of 753,833 shares. The firm’s market cap is $53.17 billion. The firm has a 50-day moving average of $16.06 and a 200 day moving average of $16.32. Statoil ASA has a 12-month low of $10.89 and a 12-month high of $17.94.
The firm also recently announced 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 payout ratio is -229.72%.
A number of hedge funds have recently made changes to their positions in the stock. 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 valued at $407,000 after buying an additional 2,839 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Statoil ASA during the first quarter valued at $234,000. BlackRock Group LTD acquired a new stake in shares of Statoil ASA during the first quarter valued at $1,793,000. Folketrygdfondet increased its stake in shares of Statoil ASA by 4.0% in the first quarter. Folketrygdfondet now owns 117,436,971 shares of the company’s stock valued at $1,827,319,000 after buying an additional 4,479,827 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Statoil ASA during the first quarter valued at $3,587,000. Hedge funds and other institutional investors own 5.33% of the company’s stock.
Statoil ASA Company Profile
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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