Statoil ASA (STO) Posts Earnings Results, Beats Expectations By $0.05 EPS

Statoil ASA (NYSE:STO) posted its quarterly earnings results on Wednesday. The oil and gas company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.05, Morningstar.com reports. Statoil ASA had a return on equity of 12.04% and a net margin of 7.50%. The company had revenue of $17.11 billion during the quarter.

Statoil ASA (NYSE STO) opened at $21.66 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 0.71. Statoil ASA has a one year low of $16.18 and a one year high of $24.47. The firm has a market capitalization of $75,070.34, a P/E ratio of 16.25, a P/E/G ratio of 0.73 and a beta of 0.99.

The business also recently disclosed a dividend, which will be paid on Friday, February 9th. Investors of record on Friday, February 9th will be paid a $0.16 dividend. This represents a dividend yield of 0.00677966101694915%. The ex-dividend date is Thursday, February 8th. Statoil ASA’s payout ratio is 38.85%.

Several hedge funds have recently modified their holdings of STO. Folketrygdfondet grew its holdings in Statoil ASA by 0.3% in the 3rd quarter. Folketrygdfondet now owns 117,919,207 shares of the oil and gas company’s stock valued at $2,368,997,000 after buying an additional 335,771 shares during the last quarter. Earnest Partners LLC grew its holdings in Statoil ASA by 7.5% in the 3rd quarter. Earnest Partners LLC now owns 5,926,826 shares of the oil and gas company’s stock valued at $119,070,000 after buying an additional 415,914 shares during the last quarter. State Street Corp grew its holdings in Statoil ASA by 1.9% in the 2nd quarter. State Street Corp now owns 1,590,002 shares of the oil and gas company’s stock valued at $26,283,000 after buying an additional 28,916 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Statoil ASA by 7.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,060,874 shares of the oil and gas company’s stock valued at $17,536,000 after buying an additional 69,709 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Statoil ASA by 1.4% in the 4th quarter. Sei Investments Co. now owns 1,024,237 shares of the oil and gas company’s stock valued at $21,939,000 after buying an additional 13,790 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STO has been the topic of a number of recent analyst reports. Citigroup downgraded Statoil ASA from a “buy” rating to a “neutral” rating in a research note on Monday, October 30th. Scotiabank reissued a “hold” rating and issued a $19.00 price objective on shares of Statoil ASA in a research note on Wednesday, November 1st. Credit Suisse Group raised Statoil ASA from an “underperform” rating to an “outperform” rating in a research note on Wednesday, January 24th. Bank of America downgraded Statoil ASA from a “neutral” rating to an “underperform” rating in a research note on Tuesday, December 5th. Finally, Goldman Sachs Group raised Statoil ASA from a “sell” rating to a “neutral” rating in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. Statoil ASA currently has an average rating of “Hold” and a consensus target price of $18.33.

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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 for Statoil ASA (NYSE:STO)

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