Statoil ASA (STO) Shares Sold by Checchi Capital Advisers LLC
Checchi Capital Advisers LLC reduced its stake in Statoil ASA (NYSE:STO) by 11.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,863 shares of the oil and gas company’s stock after selling 1,964 shares during the period. Checchi Capital Advisers LLC’s holdings in Statoil ASA were worth $262,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in Statoil ASA during the second quarter valued at about $132,000. PNC Financial Services Group Inc. boosted its position in Statoil ASA by 17.4% in the first quarter. PNC Financial Services Group Inc. now owns 9,469 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 1,402 shares during the last quarter. Ronald Blue & Co. LLC acquired a new position in Statoil ASA during the first quarter valued at about $190,000. Private Advisor Group LLC boosted its position in Statoil ASA by 11.2% in the first quarter. Private Advisor Group LLC now owns 11,553 shares of the oil and gas company’s stock valued at $198,000 after buying an additional 1,166 shares during the last quarter. Finally, 1st Global Advisors Inc. boosted its position in Statoil ASA by 26.1% in the first quarter. 1st Global Advisors Inc. now owns 12,664 shares of the oil and gas company’s stock valued at $218,000 after buying an additional 2,623 shares during the last quarter. Hedge funds and other institutional investors own 4.97% of the company’s stock.
Statoil ASA (STO) opened at 18.10 on Friday. The stock has a 50 day moving average price of $17.71 and a 200-day moving average price of $17.44. Statoil ASA has a 12 month low of $14.98 and a 12 month high of $19.26. The stock’s market cap is $58.61 billion.
The firm also recently declared a dividend, which was paid on Thursday, August 10th. Shareholders of record on Thursday, August 10th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, August 8th. Statoil ASA’s dividend payout ratio (DPR) is presently -291.65%.
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Several research analysts have issued reports on the company. BidaskClub upgraded Statoil ASA from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 13th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating on shares of Statoil ASA in a research report on Friday, May 5th. Scotiabank reiterated a “hold” rating and issued a $17.00 price objective on shares of Statoil ASA in a research report on Friday, June 9th. Zacks Investment Research upgraded Statoil ASA from a “strong sell” rating to a “hold” rating in a research report on Monday, April 24th. Finally, BMO Capital Markets upgraded Statoil ASA from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 25th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Statoil ASA presently has a consensus rating of “Hold” and an average target price of $18.67.
About Statoil ASA
Statoil ASA (Statoil) is an energy company. The Company is engaged in oil and gas exploration and production activities. The Company’s segments include Development and Production Norway (DPN), Development and Production International (DPI), Marketing, Midstream and Processing (MMP) and Other. DPN segment manages the Company’s upstream activities on the Norwegian continental shelf (NCS) and explores for and extracts crude oil, natural gas and natural gas liquids.
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