Statoil ASA (NYSE:STO) Position Boosted by Ameriprise Financial Inc.
Ameriprise Financial Inc. increased its stake in Statoil ASA (NYSE:STO) by 11.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,277 shares of the oil and gas company’s stock after buying an additional 11,036 shares during the period. Ameriprise Financial Inc.’s holdings in Statoil ASA were worth $1,812,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in STO. Karp Capital Management Corp acquired a new stake in Statoil ASA during the first quarter worth about $10,918,000. Hennessy Advisors Inc. purchased a new stake in shares of Statoil ASA during the first quarter valued at about $5,312,000. Russell Investments Group Ltd. purchased a new stake in shares of Statoil ASA during the fourth quarter valued at about $1,058,000. BTIM Corp. increased its stake in shares of Statoil ASA by 48.8% in the first quarter. BTIM Corp. now owns 129,550 shares of the oil and gas company’s stock valued at $2,226,000 after buying an additional 42,500 shares during the period. Finally, Profund Advisors LLC increased its stake in shares of Statoil ASA by 51.0% in the first quarter. Profund Advisors LLC now owns 78,668 shares of the oil and gas company’s stock valued at $1,352,000 after buying an additional 26,554 shares during the period. Institutional investors and hedge funds own 4.99% of the company’s stock.
Shares of Statoil ASA (STO) traded down 1.59% during trading on Tuesday, reaching $18.61. The company had a trading volume of 1,350,165 shares. The firm’s market capitalization is $60.26 billion. Statoil ASA has a 52-week low of $14.98 and a 52-week high of $19.27. The company has a 50 day moving average of $17.25 and a 200-day moving average of $17.47.
The company also recently announced a dividend, which will be paid on Thursday, August 10th. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, August 8th. Statoil ASA’s dividend payout ratio (DPR) is currently -316.65%.
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Several analysts have issued reports on the stock. BMO Capital Markets raised shares of Statoil ASA from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 25th. Zacks Investment Research cut Statoil ASA from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 15th. BidaskClub upgraded Statoil ASA from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating on shares of Statoil ASA in a research note on Monday, May 15th. Finally, Scotiabank reiterated a “hold” rating and issued a $17.00 target price on shares of Statoil ASA in a research note on Friday, June 9th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $18.67.
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.
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