Jefferies Group Equities Analysts Increase Earnings Estimates for Statoil ASA (STO)

Statoil ASA (NYSE:STO) – Stock analysts at Jefferies Group lifted their FY2017 earnings per share (EPS) estimates for shares of Statoil ASA in a research note issued to investors on Thursday. Jefferies Group analyst M. Kofler now expects that the oil and gas company will post earnings per share of $1.26 for the year, up from their prior estimate of $1.20. Jefferies Group also issued estimates for Statoil ASA’s FY2018 earnings at $0.99 EPS, FY2019 earnings at $1.07 EPS and FY2020 earnings at $1.37 EPS.

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Several other equities analysts have also commented on STO. Zacks Investment Research lowered Statoil ASA from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Scotiabank reissued a “hold” rating and set a $17.00 price target on shares of Statoil ASA in a research report on Thursday, July 13th. BidaskClub raised Statoil ASA from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 13th. Barclays PLC lowered Statoil ASA from an “equal weight” rating to an “underweight” rating in a research report on Monday, August 21st. Finally, Piper Jaffray Companies set a $16.00 price target on Statoil ASA and gave the stock a “hold” rating in a research report on Friday, August 25th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $17.67.

Shares of Statoil ASA (NYSE:STO) opened at 20.31 on Monday. The company’s 50 day moving average is $20.05 and its 200-day moving average is $18.23. Statoil ASA has a 1-year low of $15.58 and a 1-year high of $20.77. The stock’s market capitalization is $65.76 billion.

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in Statoil ASA by 19.8% during the 1st quarter. JPMorgan Chase & Co. now owns 31,086 shares of the oil and gas company’s stock worth $534,000 after purchasing an additional 5,146 shares during the last quarter. Capstone Asset Management Co. increased its holdings in Statoil ASA by 5.1% during the 2nd quarter. Capstone Asset Management Co. now owns 96,574 shares of the oil and gas company’s stock worth $1,596,000 after purchasing an additional 4,650 shares during the last quarter. Sei Investments Co. increased its holdings in Statoil ASA by 93.8% during the 2nd quarter. Sei Investments Co. now owns 2,010,897 shares of the oil and gas company’s stock worth $33,241,000 after purchasing an additional 973,529 shares during the last quarter. US Bancorp DE increased its holdings in Statoil ASA by 25.2% during the 2nd quarter. US Bancorp DE now owns 21,800 shares of the oil and gas company’s stock worth $360,000 after purchasing an additional 4,382 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Statoil ASA by 24.6% during the 1st 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 purchasing an additional 15,570 shares during the last quarter. Institutional investors own 5.02% of the company’s stock.

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.

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

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