Grandfield & Dodd LLC decreased its stake in Statoil ASA (NYSE:STO) by 30.2% during the second quarter, Holdings Channel reports. The fund owned 72,449 shares of the company’s stock after selling 31,410 shares during the period. Grandfield & Dodd LLC’s holdings in Statoil ASA were worth $1,254,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Capital Fund Management S.A. purchased a new position in Statoil ASA during the second quarter worth about $8,546,000. Boston Advisors LLC purchased a new position in Statoil ASA during the second quarter worth about $4,302,000. Bank of Montreal Can purchased a new position in Statoil ASA during the second quarter worth about $1,124,000. Gilman Hill Asset Management LLC boosted its position in Statoil ASA by 3.6% in the second quarter. Gilman Hill Asset Management LLC now owns 26,950 shares of the company’s stock worth $467,000 after buying an additional 940 shares during the period. Finally, Checchi Capital Advisers LLC boosted its position in Statoil ASA by 3.2% in the second quarter. Checchi Capital Advisers LLC now owns 17,389 shares of the company’s stock worth $301,000 after buying an additional 533 shares during the period. 5.33% of the stock is currently owned by institutional investors and hedge funds.
Statoil ASA (NYSE:STO) traded up 1.61% during midday trading on Wednesday, hitting $17.05. 1,414,020 shares of the stock were exchanged. The firm’s 50-day moving average price is $15.92 and its 200 day moving average price is $16.26. The firm’s market capitalization is $54.24 billion. Statoil ASA has a 1-year low of $10.89 and a 1-year high of $17.94.
The company 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 $0.2201 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend is Tuesday, November 1st. Statoil ASA’s payout ratio is -229.72%.
A number of equities analysts have issued reports on STO shares. Bank of America Corp. upgraded Statoil ASA from an “underperform” rating to a “neutral” rating in a report on Friday, July 15th. Morgan Stanley cut Statoil ASA from an “equal weight” rating to an “underweight” rating in a report on Friday, September 9th. HSBC upgraded Statoil ASA from a “hold” rating to a “buy” rating in a report on Wednesday, September 7th. Societe Generale upgraded Statoil ASA from a “hold” rating to a “buy” rating in a report on Wednesday, July 6th. Finally, Zacks Investment Research upgraded Statoil ASA from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Monday, July 25th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Statoil ASA presently has an average rating of “Hold” and an average target price of $15.53.
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.
Want to see what other hedge funds are holding STO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Statoil ASA (NYSE:STO).
Receive News & Ratings for Statoil ASA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Statoil ASA and related companies with MarketBeat.com's FREE daily email newsletter.