Saturna Capital CORP lowered its position in shares of Statoil ASA (NYSE:STO) by 76.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,500 shares of the oil and gas company’s stock after selling 61,314 shares during the period. Saturna Capital CORP’s holdings in Statoil ASA were worth $372,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in shares of Statoil ASA during the second quarter valued at approximately $132,000. Advisor Group Inc. increased its position in shares of 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 acquiring an additional 2,262 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Statoil ASA by 4.8% during 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. CAPROCK Group Inc. bought a new stake in shares of Statoil ASA during the third quarter valued at approximately $204,000. Finally, HighTower Advisors LLC bought a new stake in shares of Statoil ASA during the second quarter valued at approximately $168,000. 5.18% of the stock is owned by institutional investors.
Shares of Statoil ASA (NYSE:STO) traded down $0.04 during mid-day trading on Wednesday, reaching $20.35. 1,448,300 shares of the company traded hands, compared to its average volume of 1,855,094. Statoil ASA has a 52 week low of $16.18 and a 52 week high of $21.02. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $66,166.55, a PE ratio of 20.81, a P/E/G ratio of 0.63 and a beta of 0.96.
Several equities research analysts recently weighed in on the stock. Bank of America downgraded shares of Statoil ASA from a “neutral” rating to an “underperform” rating in a research report on Tuesday. BMO Capital Markets downgraded shares of Statoil ASA from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 14th. downgraded shares of Statoil ASA from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Scotiabank reissued a “hold” rating and set a $19.00 price target on shares of Statoil ASA in a research report on Wednesday, November 1st. Finally, Citigroup downgraded shares of Statoil ASA from a “buy” rating to a “neutral” rating in a research report on Monday, October 30th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.33.
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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.
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