Statoil ASA (STO) Downgraded by Societe Generale to Hold

Societe Generale cut shares of Statoil ASA (NYSE:STO) from a buy rating to a hold rating in a research report report published on Tuesday, Marketbeat Ratings reports.

STO has been the subject of a number of other research reports. Goldman Sachs Group Inc reiterated a sell rating on shares of Statoil ASA in a research report on Friday, May 5th. Scotiabank reiterated a hold rating and set a $17.00 price target on shares of Statoil ASA in a research report on Friday, June 9th. Zacks Investment Research upgraded Statoil ASA from a hold rating to a buy rating and set a $19.00 price target for the company in a research report on Tuesday, March 28th. Macquarie assumed coverage on Statoil ASA in a research report on Friday, March 24th. They set an underperform rating for the company. 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 investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $18.16.

Statoil ASA (STO) traded down 1.62% during midday trading on Tuesday, reaching $16.37. The company’s stock had a trading volume of 1,465,115 shares. The company’s 50-day moving average price is $17.46 and its 200-day moving average price is $17.69. The company’s market capitalization is $52.97 billion. Statoil ASA has a 1-year low of $14.98 and a 1-year high of $19.26.

Statoil ASA (NYSE:STO) last announced its quarterly earnings results on Thursday, May 4th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.13. Statoil ASA had a positive return on equity of 2.06% and a negative net margin of 4.81%. The company had revenue of $15.53 billion during the quarter. During the same quarter last year, the firm posted $0.04 EPS. On average, analysts predict that Statoil ASA will post $1.11 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Thursday, August 10th will be issued a $0.2201 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.88 annualized dividend and a dividend yield of 5.29%. Statoil ASA’s dividend payout ratio (DPR) is -138.46%.

Several hedge funds have recently made changes to their positions in STO. Quadrant Capital Group LLC raised its stake in shares of Statoil ASA by 445.7% in the first quarter. Quadrant Capital Group LLC now owns 8,327 shares of the oil and gas company’s stock valued at $137,000 after buying an additional 6,801 shares during the period. Raymond James Trust N.A. raised its stake in shares of Statoil ASA by 20.5% in the first quarter. Raymond James Trust N.A. now owns 33,169 shares of the oil and gas company’s stock worth $570,000 after buying an additional 5,634 shares during the period. WFG Advisors LP raised its stake in shares of Statoil ASA by 11,813.0% in the fourth quarter. WFG Advisors LP now owns 11,913 shares of the oil and gas company’s stock worth $242,000 after buying an additional 11,813 shares during the period. GSB Wealth Management LLC bought a new stake in shares of Statoil ASA during the fourth quarter worth about $336,000. Finally, Freestone Capital Holdings LLC bought a new stake in shares of Statoil ASA during the fourth quarter worth about $390,000. Institutional investors and hedge funds own 4.96% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “STO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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