Mirae Asset Global Investments Co. Ltd. Increases Position in Statoil ASA (STO)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Statoil ASA (NYSE:STO) by 13.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 202,295 shares of the oil and gas company’s stock after buying an additional 24,078 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Statoil ASA were worth $3,475,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STO. Rikoon Group LLC bought a new position in Statoil ASA during the third quarter worth $2,948,000. BlackRock Group LTD raised its position in Statoil ASA by 1.1% in the third quarter. BlackRock Group LTD now owns 165,120 shares of the oil and gas company’s stock worth $2,774,000 after buying an additional 1,870 shares during the period. Traynor Capital Management Inc. bought a new position in Statoil ASA during the third quarter worth $167,000. Profund Advisors LLC raised its position in Statoil ASA by 9.0% in the third quarter. Profund Advisors LLC now owns 64,638 shares of the oil and gas company’s stock worth $1,086,000 after buying an additional 5,346 shares during the period. Finally, KCG Holdings Inc. raised its position in Statoil ASA by 313.1% in the third quarter. KCG Holdings Inc. now owns 61,429 shares of the oil and gas company’s stock worth $1,032,000 after buying an additional 46,558 shares during the period. 5.13% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Statoil ASA (NYSE:STO)

Statoil ASA (NYSE:STO) traded up 1.73% during midday trading on Friday, hitting $18.23. The stock had a trading volume of 1,345,969 shares. The firm’s market cap is $58.99 billion. The stock has a 50-day moving average of $17.09 and a 200-day moving average of $17.54. Statoil ASA has a 52 week low of $14.98 and a 52 week high of $19.26.

Statoil ASA (NYSE:STO) last issued its quarterly earnings results on Thursday, May 4th. The oil and gas company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.13. The company had revenue of $15.53 billion for the quarter. Statoil ASA had a negative return on equity of 0.53% and a negative net margin of 6.37%. During the same quarter last year, the firm earned $0.04 earnings per share. Analysts forecast that Statoil ASA will post $1.04 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Thursday, August 10th will be issued a $0.2201 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.91%. Statoil ASA’s dividend payout ratio (DPR) is -92.39%.

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A number of equities analysts recently weighed in on the company. Zacks Investment Research lowered Statoil ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday. Goldman Sachs Group Inc reissued a “sell” rating on shares of Statoil ASA in a research note on Monday. Simmons increased their price objective on Statoil ASA from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 19th. Macquarie assumed coverage on Statoil ASA in a research note on Friday, March 24th. They issued an “underperform” rating for the company. Finally, Scotiabank set a $17.00 price objective on Statoil ASA and gave the stock a “hold” rating in a research note on Monday, March 27th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $18.16.

Statoil ASA Company Profile

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.

12 Month Chart for NYSE:STO

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