Earnest Partners LLC decreased its stake in shares of Statoil ASA (NYSE:STO) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,510,912 shares of the oil and gas company’s stock after selling 141,947 shares during the period. Earnest Partners LLC owned about 0.17% of Statoil ASA worth $91,095,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in Statoil ASA during the second quarter valued at approximately $132,000. Advisor Group Inc. lifted its position in Statoil ASA by 39.5% during the second quarter. Advisor Group Inc. now owns 7,995 shares of the oil and gas company’s stock valued at $114,000 after purchasing an additional 2,262 shares during the period. PNC Financial Services Group Inc. lifted its position in Statoil ASA by 17.4% during the first quarter. PNC Financial Services Group Inc. now owns 9,469 shares of the oil and gas company’s stock valued at $163,000 after purchasing an additional 1,402 shares during the period. HighTower Advisors LLC bought a new position in Statoil ASA during the second quarter valued at approximately $168,000. Finally, Pacad Investment Ltd. lifted its position in Statoil ASA by 8.1% during the second quarter. Pacad Investment Ltd. now owns 10,700 shares of the oil and gas company’s stock valued at $177,000 after purchasing an additional 800 shares during the period. Institutional investors own 5.02% of the company’s stock.

Statoil ASA (STO) traded down 0.70% on Friday, reaching $19.88. 2,955,957 shares of the company’s stock traded hands. The stock’s market cap is $64.37 billion. Statoil ASA has a 12-month low of $15.58 and a 12-month high of $20.42. The stock has a 50 day moving average price of $19.35 and a 200 day moving average price of $17.85.

A number of brokerages recently weighed in on STO. Zacks Investment Research downgraded shares of Statoil ASA from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Scotiabank restated a “hold” rating and set a $17.00 price objective on shares of Statoil ASA in a research report on Friday, June 9th. BidaskClub upgraded shares of Statoil ASA from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. BNP Paribas upgraded shares of Statoil ASA from an “underperform” rating to a “neutral” rating in a research report on Tuesday, September 26th. Finally, Barclays PLC downgraded shares of Statoil ASA from an “equal weight” rating to an “underweight” rating in a research report on Monday, August 21st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $17.67.

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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.

Institutional Ownership by Quarter for Statoil ASA (NYSE:STO)

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