Jefferies Group Brokers Lift Earnings Estimates for Statoil ASA (NYSE:STO)

Statoil ASA (NYSE:STO) – Investment analysts at Jefferies Group raised their FY2017 EPS estimates for Statoil ASA in a report released on Friday. Jefferies Group analyst M. Kofler now expects that the oil and gas company will earn $1.23 per share for the year, up from their prior estimate of $1.17.

Statoil ASA (NYSE:STO) last issued its earnings results on Thursday, May 4th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.13. The business had revenue of $15.53 billion during the quarter. Statoil ASA had a negative net margin of 1.32% and a positive return on equity of 5.61%. During the same period last year, the firm posted $0.04 earnings per share.

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A number of other analysts have also recently weighed in on STO. Zacks Investment Research cut shares of Statoil ASA from a “buy” rating to a “strong sell” rating in a report on Tuesday, April 11th. Simmons raised their price target on shares of Statoil ASA from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) restated a “sell” rating on shares of Statoil ASA in a report on Friday, May 5th. Scotiabank set a $17.00 price target on shares of Statoil ASA and gave the company a “hold” rating in a report on Monday, May 8th. Finally, BMO Capital Markets upgraded shares of Statoil ASA from a “market perform” rating to an “outperform” rating in a report on Thursday, May 25th. Five research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Statoil ASA presently has an average rating of “Hold” and a consensus price target of $18.67.

Statoil ASA (NYSE STO) opened at 18.76 on Monday. Statoil ASA has a 12-month low of $14.98 and a 12-month high of $19.26. The stock’s 50 day moving average is $17.08 and its 200 day moving average is $17.45. The stock’s market capitalization is $60.74 billion.

The business also recently announced a dividend, which will be paid on Thursday, August 10th. Investors of record on Thursday, August 10th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. Statoil ASA’s dividend payout ratio (DPR) is presently -316.65%.

A number of hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in Statoil ASA during the second quarter worth approximately $132,000. Quadrant Capital Group LLC boosted its stake in Statoil ASA by 445.7% in the first quarter. Quadrant Capital Group LLC now owns 8,327 shares of the oil and gas company’s stock worth $137,000 after buying an additional 6,801 shares during the period. 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 worth $163,000 after buying an additional 1,402 shares during the period. Ronald Blue & Co. LLC bought a new stake in Statoil ASA during the first quarter worth approximately $190,000. Finally, Private Advisor Group LLC boosted its stake in 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. Institutional investors own 4.96% of the company’s stock.

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.

Earnings History and Estimates for Statoil ASA (NYSE:STO)

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