Analysts Issue Forecasts for Statoil ASA’s Q3 2016 Earnings (STO)
Statoil ASA (NYSE:STO) – Investment analysts at Jefferies Group issued their Q3 2016 earnings per share estimates for shares of Statoil ASA in a research report issued to clients and investors on Tuesday. Jefferies Group analyst M. Kofler anticipates that the brokerage will post earnings per share of $0.09 for the quarter. Jefferies Group also issued estimates for Statoil ASA’s FY2016 earnings at $0.32 EPS.
A number of other analysts have also weighed in on STO. Deutsche Bank AG lowered shares of Statoil ASA from a “hold” rating to a “sell” rating and upped their target price for the stock from $16.43 to $16.64 in a research note on Tuesday, June 21st. Zacks Investment Research upgraded shares of Statoil ASA from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Thursday, June 23rd. Societe Generale upgraded shares of Statoil ASA from a “hold” rating to a “buy” rating in a research note on Wednesday, July 6th. Bank of America Corp. upgraded shares of Statoil ASA from an “underperform” rating to a “neutral” rating in a research note on Friday, July 15th. Finally, Morgan Stanley lowered shares of Statoil ASA from an “overweight” rating to an “equal weight” rating in a research note on Thursday, July 21st. Six analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Statoil ASA has an average rating of “Hold” and an average target price of $15.53.
Shares of Statoil ASA (NYSE:STO) opened at 16.70 on Friday. Statoil ASA has a 52 week low of $10.89 and a 52 week high of $17.94. The firm’s 50-day moving average is $16.08 and its 200 day moving average is $16.33. The firm’s market capitalization is $53.12 billion.
Large investors have recently bought and sold shares of the stock. Advisor Group Inc. purchased a new stake in Statoil ASA during the second quarter valued at $125,000. Cubist Systematic Strategies LLC bought a new stake in shares of Statoil ASA during the second quarter valued at $225,000. Creative Planning increased its stake in shares of Statoil ASA by 6.3% in the third quarter. Creative Planning now owns 13,819 shares of the company’s stock valued at $232,000 after buying an additional 816 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Statoil ASA during the second quarter valued at $242,000. Finally, M&T Bank Corp increased its stake in shares of Statoil ASA by 13.1% in the second quarter. M&T Bank Corp now owns 14,206 shares of the company’s stock valued at $246,000 after buying an additional 1,650 shares in the last quarter. 5.33% of the stock is owned by institutional investors and hedge funds.
The company 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. This represents a $0.88 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend is Tuesday, November 1st. Statoil ASA’s payout ratio is currently -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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