Northern Trust Corp grew its stake in shares of Statoil (NYSE:STO) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,730,092 shares of the oil and gas company’s stock after acquiring an additional 24,370 shares during the quarter. Northern Trust Corp owned about 0.05% of Statoil worth $40,917,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Signaturefd LLC purchased a new position in Statoil during the first quarter worth $119,000. CoreCommodity Management LLC purchased a new stake in Statoil in the fourth quarter worth about $159,000. Clearbridge Investments LLC raised its holdings in Statoil by 92.1% in the fourth quarter. Clearbridge Investments LLC now owns 10,816 shares of the oil and gas company’s stock worth $232,000 after purchasing an additional 5,185 shares in the last quarter. 180 Wealth Advisors LLC bought a new position in Statoil in the fourth quarter worth about $248,000. Finally, Advisor Partners LLC bought a new position in Statoil in the first quarter worth about $293,000. Institutional investors own 4.97% of the company’s stock.
STO has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Statoil from a “buy” rating to a “hold” rating in a report on Monday, April 30th. Citigroup lowered Statoil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 29th. Finally, UBS Group lowered Statoil from a “buy” rating to a “neutral” rating in a research report on Monday, March 26th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Statoil presently has a consensus rating of “Hold” and a consensus target price of $24.67.
Statoil opened at $27.14 on Friday, MarketBeat.com reports. The company has a market capitalization of $90.19 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 0.84 and a beta of 0.93. Statoil has a 1-year low of $16.18 and a 1-year high of $27.35. The company has a current ratio of 1.39, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 30th. Stockholders of record on Wednesday, August 22nd will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, August 21st. This represents a $0.92 annualized dividend and a dividend yield of 3.39%. This is an increase from Statoil’s previous quarterly dividend of $0.22. Statoil’s dividend payout ratio (DPR) is presently 23.19%.
Statoil ASA, an energy company, explores for, produces, transports, refines, and markets petroleum and petroleum-derived products, and other forms of energy in Norway and internationally. The company operates through Development & Production Norway; Development & Production USA; Development & Production International; Marketing, Midstream & Processing; New Energy Solutions; Technology, Projects & Drilling; Exploration; and Global Strategy & Business Development segments.
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