US Bancorp DE Increases Position in Statoil ASA (STO)
US Bancorp DE boosted its stake in shares of Statoil ASA (NYSE:STO) by 25.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,800 shares of the oil and gas company’s stock after buying an additional 4,382 shares during the period. US Bancorp DE’s holdings in Statoil ASA were worth $360,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in STO. PNC Financial Services Group Inc. boosted its stake in Statoil ASA by 17.4% in the first quarter. PNC Financial Services Group Inc. now owns 9,469 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 1,402 shares during the period. Ronald Blue & Co. LLC bought a new stake in shares of Statoil ASA during the first quarter worth approximately $190,000. Private Advisor Group LLC boosted its stake in shares of Statoil ASA by 11.2% in the first quarter. Private Advisor Group LLC now owns 11,553 shares of the oil and gas company’s stock worth $198,000 after buying an additional 1,166 shares during the period. 1st Global Advisors Inc. boosted its stake in shares of Statoil ASA by 26.1% in the first quarter. 1st Global Advisors Inc. now owns 12,664 shares of the oil and gas company’s stock worth $218,000 after buying an additional 2,623 shares during the period. Finally, Creative Planning boosted its stake in shares of Statoil ASA by 16.2% in the second quarter. Creative Planning now owns 13,578 shares of the oil and gas company’s stock worth $224,000 after buying an additional 1,888 shares during the period. 4.97% of the stock is owned by institutional investors.
Statoil ASA (NYSE:STO) traded up 1.71% during mid-day trading on Friday, reaching $18.41. The company’s stock had a trading volume of 1,858,889 shares. The firm has a 50 day moving average price of $17.76 and a 200 day moving average price of $17.44. Statoil ASA has a 52-week low of $14.98 and a 52-week high of $19.27. The company’s market cap is $59.61 billion.
The firm also recently disclosed a dividend, which was paid on Thursday, August 10th. Investors of record on Thursday, August 10th were paid a $0.22 dividend. The ex-dividend date was Tuesday, August 8th. Statoil ASA’s dividend payout ratio is -291.65%.
STO has been the subject of a number of analyst reports. Scotiabank set a $17.00 price objective on Statoil ASA and gave the stock a “hold” rating in a research note on Monday, May 8th. Zacks Investment Research cut Statoil ASA from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 15th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating on shares of Statoil ASA in a research note on Monday, May 15th. BidaskClub upgraded Statoil ASA from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, Societe Generale lowered Statoil ASA from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The stock has an average 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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