According to Zacks, “Though Statoil ASA is fairly active in its development operations, we remain apprehensive as the company’s production has been facing hiccups of late. 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, Statoil’s revenues and earnings will likely remain stressed. Moreover, with major projects scheduled to be commissioned in coming years any project delays and capital spending deferrals may adversely affect the company’s profitability. Considering these factors, we see Statoil as a risky bet that ordinary investors should exit.”
Several other brokerages have also recently issued reports on STO. Bank of America Corp. upgraded Statoil ASA from an underperform rating to a neutral rating in a research note on Friday, July 15th. Morgan Stanley cut Statoil ASA from an overweight rating to an equal weight rating in a research note on Thursday, July 21st. Societe Generale upgraded Statoil ASA from a hold rating to a buy rating in a research note on Wednesday, July 6th. TheStreet upgraded Statoil ASA to a hold rating in a research note on Thursday, May 26th. Finally, HSBC cut Statoil ASA from a buy rating to a hold rating in a research note on Thursday, May 26th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Statoil ASA has an average rating of Hold and a consensus price target of $15.53.
Statoil ASA (NYSE:STO) opened at 15.83 on Tuesday. The company’s market capitalization is $50.36 billion. The stock has a 50 day moving average price of $15.89 and a 200 day moving average price of $16.21. Statoil ASA has a 52-week low of $10.89 and a 52-week high of $17.94.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Thursday, November 3rd will be issued a dividend of $0.2201 per share. The ex-dividend date of this dividend is Tuesday, November 1st. This represents a $0.88 annualized dividend and a dividend yield of 5.56%. Statoil ASA’s dividend payout ratio (DPR) is presently -229.72%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. increased its position in shares of 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 during the period. Euclid Advisors LLC increased its position in shares of 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 period. Cubist Systematic Strategies LLC bought a new position in shares of Statoil ASA during the second quarter valued at about $225,000. A.R.T. Advisors LLC bought a new position in shares of Statoil ASA during the second quarter valued at about $1,047,000. Finally, Eagle Global Advisors LLC bought a new position in shares of Statoil ASA during the second quarter valued at about $1,692,000. 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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