Statoil ASA (STO) Stock Price Down 2.8%
Statoil ASA (NYSE:STO)’s share price was 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 trading hands. The stock had previously closed at $17.32.
A number of equities analysts have recently issued reports on STO shares. Zacks Investment Research upgraded shares of Statoil ASA from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective on the stock in a research note on Tuesday, March 29th. TheStreet upgraded shares of Statoil ASA from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th. Societe Generale upgraded shares of Statoil ASA from a “hold” rating to a “buy” rating in a research note on Wednesday, July 6th. Royal Bank Of Canada downgraded shares of Statoil ASA from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, May 31st. Finally, Deutsche Bank AG downgraded shares of 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 research note on Tuesday, June 21st. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $16.13.
The company has a market capitalization of $53.61 billion and a price-to-earnings ratio of 83.05. The stock has a 50-day moving average price of $16.86 and a 200-day moving average price of $15.42.
Statoil ASA (NYSE:STO) last released its quarterly earnings results on Wednesday, April 27th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.22. Equities analysts expect that Statoil ASA will post $0.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Thursday, August 11th will be paid a $0.2201 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date of this dividend is Wednesday, August 10th.
Several hedge funds and institutional investors have made changes to their positions in STO. Russell Frank Co acquired a new position in shares of Statoil ASA during the fourth quarter worth $1,795,000. TSP Capital Management Group LLC boosted its position in shares of 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, BNP Paribas Arbitrage SA boosted its position in shares of 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.
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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