Bank of New York Mellon Corp lessened its position in shares of Statoil ASA (NYSE:STO) by 19.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,297 shares of the oil and gas company’s stock after selling 14,156 shares during the period. Bank of New York Mellon Corp’s holdings in Statoil ASA were worth $1,211,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Advisor Group Inc. raised its stake in shares of Statoil ASA by 31.4% during the third quarter. Advisor Group Inc. now owns 10,506 shares of the oil and gas company’s stock valued at $210,000 after acquiring an additional 2,511 shares during the last quarter. FDx Advisors Inc. bought a new position in shares of Statoil ASA during the third quarter valued at $249,000. Global X MANAGEMENT CO LLC raised its stake in shares of Statoil ASA by 6.9% during the third quarter. Global X MANAGEMENT CO LLC now owns 61,243 shares of the oil and gas company’s stock valued at $1,230,000 after acquiring an additional 3,977 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Statoil ASA during the third quarter valued at $2,480,000. Finally, Duff & Phelps Investment Management Co. increased its position in shares of Statoil ASA by 8.5% during the third quarter. Duff & Phelps Investment Management Co. now owns 350,563 shares of the oil and gas company’s stock worth $7,045,000 after buying an additional 27,435 shares during the period. 5.05% of the stock is owned by institutional investors.
STO has been the subject of several recent analyst reports. Bank of America cut shares of Statoil ASA from a “neutral” rating to an “underperform” rating in a research report on Tuesday, December 5th. BMO Capital Markets cut shares of Statoil ASA from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 14th. Citigroup cut shares of Statoil ASA from a “buy” rating to a “neutral” rating in a report on Monday, October 30th. ValuEngine upgraded shares of Statoil ASA from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Royal Bank of Canada upgraded shares of Statoil ASA from a “sector perform” rating to an “outperform” rating in a report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.33.
Shares of Statoil ASA (NYSE STO) opened at $23.36 on Friday. The company has a market cap of $77,994.73, a PE ratio of -93.44, a price-to-earnings-growth ratio of 0.80 and a beta of 0.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.54 and a quick ratio of 1.38. Statoil ASA has a 12-month low of $16.18 and a 12-month high of $23.58.
Statoil ASA (NYSE:STO) last posted its earnings results on Thursday, October 26th. The oil and gas company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.03. Statoil ASA had a negative net margin of 1.37% and a positive return on equity of 8.61%. equities analysts forecast that Statoil ASA will post 1.28 EPS for the current year.
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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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