State Street Corp Buys 28,916 Shares of Statoil ASA (STO)
State Street Corp increased its stake in shares of Statoil ASA (NYSE:STO) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,590,002 shares of the oil and gas company’s stock after buying an additional 28,916 shares during the quarter. State Street Corp’s holdings in Statoil ASA were worth $26,283,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in STO. Renaissance Technologies LLC grew its holdings in Statoil ASA by 36.1% during the second quarter. Renaissance Technologies LLC now owns 6,330,576 shares of the oil and gas company’s stock worth $104,644,000 after buying an additional 1,680,032 shares in the last quarter. Sei Investments Co. grew its holdings in Statoil ASA by 93.8% during the second quarter. Sei Investments Co. now owns 2,010,897 shares of the oil and gas company’s stock worth $33,241,000 after buying an additional 973,529 shares in the last quarter. UBS Oconnor LLC bought a new stake in Statoil ASA during the second quarter worth $2,040,000. Goldman Sachs Group Inc. grew its holdings in Statoil ASA by 7.0% during the second quarter. Goldman Sachs Group Inc. now owns 1,060,874 shares of the oil and gas company’s stock worth $17,536,000 after buying an additional 69,709 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in Statoil ASA by 7.8% during the second quarter. Parametric Portfolio Associates LLC now owns 785,287 shares of the oil and gas company’s stock worth $12,981,000 after buying an additional 56,943 shares in the last quarter. Institutional investors and hedge funds own 4.99% of the company’s stock.
STO has been the subject of several recent research reports. Deutsche Bank AG upgraded Statoil ASA from a “sell” rating to a “hold” rating in a report on Monday, September 4th. Zacks Investment Research downgraded Statoil ASA from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. BidaskClub upgraded Statoil ASA from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Piper Jaffray Companies set a $16.00 price objective on Statoil ASA and gave the company a “hold” rating in a research note on Friday, August 25th. Finally, BNP Paribas upgraded Statoil ASA from an “underperform” rating to a “neutral” rating in a research note on Tuesday, September 26th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $18.33.
Statoil ASA (STO) opened at $20.69 on Tuesday. Statoil ASA has a 1 year low of $15.58 and a 1 year high of $21.02. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.54. The company has a market capitalization of $67,789.07, a price-to-earnings ratio of 21.32, a PEG ratio of 0.66 and a beta of 0.97.
Statoil ASA 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.
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