According to Zacks, “Statoil ASA has decided to acquire stakes of Tullow Oil Plc in the Wisting discovery in the Barents Sea. We appreciate the deal as the field is expected to have significant recoverable oil and gas reserves. Statoil is also gaining momentum with the start-up of operations on several new oil and gas fields. Moreover, the company’s exit from lowprofit operations and broadening of its international asset base hold promise. Though Statoil is fairly active in its development operations, we remain apprehensive about near-term impediments to the company’s production growth. The company has lowered its spending and its financial flexibility is getting increasingly restricted. The currently weak commodity price environment adds to the woes. With crude prices anticipated to remain weak throughout 2016, the company’s revenues and earnings will likely remain stressed.”
Other equities research analysts also recently issued research reports about the company. Bank of America Corp. upgraded Statoil ASA from an underperform rating to a neutral rating in a research report on Friday, July 15th. Morgan Stanley downgraded Statoil ASA from an overweight rating to an equal weight rating in a research report on Thursday, July 21st. DNB Markets upgraded Statoil ASA from a hold rating to a buy rating in a research report on Thursday, July 28th. Deutsche Bank AG downgraded Statoil ASA from a hold rating to a sell rating and increased their price objective for the stock from $16.43 to $16.64 in a research report on Tuesday, June 21st. Finally, Royal Bank Of Canada downgraded Statoil ASA from a sector perform rating to an underperform rating in a research report on Tuesday, May 31st. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $15.53.
Shares of Statoil ASA (NYSE:STO) opened at 16.47 on Tuesday. Statoil ASA has a 12 month low of $10.89 and a 12 month high of $17.94. The company’s market cap is $52.39 billion. The company’s 50 day moving average price is $15.88 and its 200 day moving average price is $16.22.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Thursday, November 3rd will be issued a $0.2201 dividend. The ex-dividend date of this dividend is Tuesday, November 1st. This represents a $0.88 annualized dividend and a dividend yield of 5.35%. Statoil ASA’s dividend payout ratio is currently -229.72%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its position in Statoil ASA by 13.5% in the second quarter. Macquarie Group Ltd. now owns 261,502 shares of the company’s stock valued at $4,527,000 after buying an additional 31,121 shares in the last quarter. Euclid Advisors LLC boosted its stake in Statoil ASA by 0.6% in the second quarter. Euclid Advisors LLC now owns 196,015 shares of the company’s stock valued at $3,393,000 after buying an additional 1,263 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Statoil ASA during the second quarter valued at about $225,000. A.R.T. Advisors LLC acquired a new stake in Statoil ASA during the second quarter valued at about $1,047,000. Finally, Eagle Global Advisors LLC acquired a new stake in Statoil ASA during the second quarter valued at about $1,692,000. 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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