Statoil ASA (STO) Given a $24.00 Price Target at Piper Jaffray Companies

Piper Jaffray Companies set a $24.00 target price on Statoil ASA (NYSE:STO) in a report released on Friday morning. The brokerage currently has a hold rating on the oil and gas company’s stock.

A number of other analysts have also commented on the company. Bank of America lowered Statoil ASA from a neutral rating to an underperform rating in a report on Tuesday, December 5th. ValuEngine raised Statoil ASA from a hold rating to a buy rating in a report on Sunday, December 31st. Royal Bank of Canada raised Statoil ASA from a sector perform rating to an outperform rating in a report on Tuesday, January 2nd. BMO Capital Markets lowered Statoil ASA from an outperform rating to a market perform rating in a report on Tuesday, November 14th. Finally, Macquarie raised Statoil ASA from an underperform rating to a neutral rating in a report on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $21.00.

Shares of Statoil ASA (STO) traded down $0.20 on Friday, reaching $21.51. The company’s stock had a trading volume of 2,864,044 shares, compared to its average volume of 1,919,675. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.36 and a quick ratio of 1.38. The company has a market cap of $72,145.95, a price-to-earnings ratio of 15.47, a P/E/G ratio of 0.70 and a beta of 0.99. Statoil ASA has a 1 year low of $16.18 and a 1 year high of $24.47.

Statoil ASA (NYSE:STO) last issued its quarterly earnings data on Wednesday, February 7th. The oil and gas company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. The firm had revenue of $17.11 billion during the quarter. Statoil ASA had a return on equity of 11.86% and a net margin of 7.50%. analysts expect that Statoil ASA will post 1.48 earnings per share for the current year.

The firm also recently announced a dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, February 9th were issued a $0.16 dividend. This represents a dividend yield of 0.00677966101694915%. The ex-dividend date was Thursday, February 8th. Statoil ASA’s dividend payout ratio is presently 50.36%.

Several hedge funds have recently added to or reduced their stakes in STO. PNC Financial Services Group Inc. grew its holdings in shares of Statoil ASA by 4.8% in the second quarter. PNC Financial Services Group Inc. now owns 9,920 shares of the oil and gas company’s stock valued at $165,000 after acquiring an additional 451 shares in the last quarter. Advisor Group Inc. grew its holdings in shares of Statoil ASA by 39.5% in the second quarter. Advisor Group Inc. now owns 7,995 shares of the oil and gas company’s stock valued at $114,000 after acquiring an additional 2,262 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Statoil ASA by 9.3% in the second quarter. Stifel Financial Corp now owns 91,328 shares of the oil and gas company’s stock valued at $1,506,000 after acquiring an additional 7,746 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Statoil ASA in the second quarter valued at approximately $168,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Statoil ASA by 7.0% in the second 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 acquiring an additional 69,709 shares in the last quarter. 5.05% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Statoil ASA (NYSE:STO)

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