Brokers Issue Forecasts for Statoil ASA’s FY2017 Earnings (STO)

Statoil ASA (NYSE:STO) – Analysts at Jefferies Group decreased their FY2017 earnings per share estimates for Statoil ASA in a report issued on Wednesday. Jefferies Group analyst M. Kofler now forecasts that the oil and gas company will earn $0.97 per share for the year, down from their previous forecast of $1.00. Jefferies Group also issued estimates for Statoil ASA’s FY2018 earnings at $1.20 EPS and FY2019 earnings at $1.30 EPS.

Statoil ASA (NYSE:STO) last announced its earnings results on Thursday, May 4th. The oil and gas company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.13. Statoil ASA had a negative return on equity of 0.53% and a negative net margin of 6.37%. The firm had revenue of $15.53 billion for the quarter. During the same quarter in the previous year, the firm earned $0.04 EPS.

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

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Statoil ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 15th. Goldman Sachs Group Inc reaffirmed a “sell” rating on shares of Statoil ASA in a research report on Monday, May 15th. Simmons lifted their target price on shares of Statoil ASA from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 19th. Macquarie started coverage on shares of Statoil ASA in a research report on Friday, March 24th. They issued an “underperform” rating for the company. Finally, Scotiabank set a $17.00 target price on shares of Statoil ASA and gave the stock a “hold” rating in a research report on Monday, March 27th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.16.

Statoil ASA (NYSE:STO) opened at 18.23 on Friday. Statoil ASA has a 52 week low of $14.98 and a 52 week high of $19.27. The stock’s market cap is $58.99 billion. The stock has a 50 day moving average price of $17.09 and a 200-day moving average price of $17.54.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Thursday, August 10th will be paid a dividend of $0.2201 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date is Tuesday, August 8th. Statoil ASA’s dividend payout ratio (DPR) is -92.39%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Folketrygdfondet boosted its position in Statoil ASA by 0.9% in the first quarter. Folketrygdfondet now owns 119,174,942 shares of the oil and gas company’s stock worth $2,047,426,000 after buying an additional 1,086,176 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Statoil ASA by 6.2% in the first quarter. Renaissance Technologies LLC now owns 4,650,544 shares of the oil and gas company’s stock valued at $79,896,000 after buying an additional 273,444 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Statoil ASA by 40.0% in the first quarter. Bank of America Corp DE now owns 3,344,260 shares of the oil and gas company’s stock valued at $57,455,000 after buying an additional 955,727 shares during the last quarter. State Street Corp boosted its stake in shares of Statoil ASA by 0.9% in the fourth quarter. State Street Corp now owns 1,561,805 shares of the oil and gas company’s stock valued at $28,488,000 after buying an additional 13,862 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Statoil ASA by 1.8% in the first quarter. Sei Investments Co. now owns 1,037,368 shares of the oil and gas company’s stock valued at $17,821,000 after buying an additional 18,787 shares during the last quarter. Institutional investors own 5.13% 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.

12 Month Chart for NYSE:STO

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