FY2017 Earnings Forecast for Statoil ASA (STO) Issued By Jefferies Group
Statoil ASA (NYSE:STO) – Jefferies Group dropped their FY2017 earnings estimates for shares of Statoil ASA in a report released on Tuesday. Jefferies Group analyst M. Kofler now anticipates that the brokerage will post earnings of $0.85 per share for the year, down from their previous estimate of $0.86. Jefferies Group also issued estimates for Statoil ASA’s FY2018 earnings at $1.31 EPS.
A number of other equities research analysts have also issued reports on STO. Bank of America Corp. raised Statoil ASA from an “underperform” rating to a “neutral” rating in a research note on Friday, July 15th. Morgan Stanley lowered Statoil ASA from an “equal weight” rating to an “underweight” rating in a research note on Friday, September 9th. HSBC raised Statoil ASA from a “hold” rating to a “buy” rating in a research note on Wednesday, September 7th. Societe Generale raised Statoil ASA from a “hold” rating to a “buy” rating in a research note on Wednesday, July 6th. Finally, Zacks Investment Research raised Statoil ASA from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Monday, July 25th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Statoil ASA has an average rating of “Hold” and an average price target of $15.53.
Shares of Statoil ASA (NYSE:STO) traded down 0.24% during midday trading on Thursday, reaching $16.71. The company had a trading volume of 1,575,487 shares. The firm’s 50 day moving average price is $16.06 and its 200-day moving average price is $16.32. Statoil ASA has a 1-year low of $10.89 and a 1-year high of $17.94. The stock’s market capitalization is $53.15 billion.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. bought a new position in shares of Statoil ASA during the second quarter worth about $125,000. Cubist Systematic Strategies LLC acquired a new stake in Statoil ASA during the second quarter worth $225,000. Creative Planning boosted its stake in Statoil ASA by 6.3% in the third quarter. Creative Planning now owns 13,819 shares of the company’s stock worth $232,000 after buying an additional 816 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Statoil ASA during the second quarter worth $242,000. Finally, M&T Bank Corp boosted its stake in Statoil ASA by 13.1% in the second quarter. M&T Bank Corp now owns 14,206 shares of the company’s stock worth $246,000 after buying an additional 1,650 shares during the last quarter. Institutional investors and hedge funds own 5.33% of the company’s stock.
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 $0.2201 dividend. The ex-dividend date of this dividend is Tuesday, November 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.26%. Statoil ASA’s dividend payout ratio is presently -229.72%.
About Statoil ASA
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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