Boston Advisors LLC increased its position in shares of Statoil ASA (NYSE:STO) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 210,154 shares of the oil and gas company’s stock after buying an additional 230 shares during the period. Boston Advisors LLC’s holdings in Statoil ASA were worth $3,474,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STO. Bank of America Corp DE raised its position in Statoil ASA by 40.0% in the first quarter. Bank of America Corp DE now owns 3,344,260 shares of the oil and gas company’s stock worth $57,455,000 after buying an additional 955,727 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Statoil ASA by 19.8% in the first quarter. JPMorgan Chase & Co. now owns 31,086 shares of the oil and gas company’s stock worth $534,000 after buying an additional 5,146 shares during the period. Capstone Asset Management Co. increased its stake in shares of Statoil ASA by 5.1% in the second quarter. Capstone Asset Management Co. now owns 96,574 shares of the oil and gas company’s stock worth $1,596,000 after buying an additional 4,650 shares during the period. Renaissance Technologies LLC increased its stake in shares of Statoil ASA by 6.2% in the first quarter. Renaissance Technologies LLC now owns 4,650,544 shares of the oil and gas company’s stock worth $79,896,000 after buying an additional 273,444 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Statoil ASA by 24.6% in the first quarter. Bank of New York Mellon Corp now owns 78,970 shares of the oil and gas company’s stock worth $1,356,000 after buying an additional 15,570 shares during the period. Hedge funds and other institutional investors own 4.97% of the company’s stock.
Statoil ASA (STO) opened at 18.41 on Friday. Statoil ASA has a 52-week low of $14.98 and a 52-week high of $19.26. The firm’s 50-day moving average price is $17.76 and its 200 day moving average price is $17.44. The firm’s market cap is $59.61 billion.
The company also recently declared a dividend, which was paid on Thursday, August 10th. Shareholders of record on Thursday, August 10th were paid a $0.22 dividend. The ex-dividend date was Tuesday, August 8th. Statoil ASA’s payout ratio is currently -291.65%.
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A number of analysts have issued reports on STO shares. Scotiabank reaffirmed a “hold” rating and set a $17.00 price target on shares of Statoil ASA in a report on Thursday, July 13th. BidaskClub downgraded Statoil ASA from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating on shares of Statoil ASA in a report on Monday, May 15th. 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 report on Wednesday, May 10th. Finally, BMO Capital Markets raised Statoil ASA from a “market perform” rating to an “outperform” rating in a report on Thursday, May 25th. Five investment 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. Statoil ASA presently 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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