Raymond James Trust N.A. lessened its stake in shares of Statoil ASA (NYSE:STO) by 15.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,988 shares of the oil and gas company’s stock after selling 5,181 shares during the quarter. Raymond James Trust N.A.’s holdings in Statoil ASA were worth $463,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in Statoil ASA during the second quarter worth about $132,000. PNC Financial Services Group Inc. boosted its stake 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 worth $163,000 after buying an additional 1,402 shares during the period. Pacad Investment Ltd. boosted its stake 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 worth $177,000 after buying an additional 800 shares during the period. Ronald Blue & Co. LLC purchased a new position in Statoil ASA during the first quarter worth about $190,000. Finally, Sawtooth Solutions LLC purchased a new position in Statoil ASA during the second quarter worth about $195,000. 5.02% of the stock is owned by institutional investors.
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Several brokerages have weighed in on STO. BidaskClub raised shares of Statoil ASA from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 13th. Barclays PLC lowered shares of Statoil ASA from an “equal weight” rating to an “underweight” rating in a research note on Monday, August 21st. Scotiabank reissued a “hold” rating and issued a $17.00 price objective on shares of Statoil ASA in a research note on Friday, June 9th. Piper Jaffray Companies set a $16.00 price objective on shares of Statoil ASA and gave the company a “hold” rating in a research note on Friday, August 25th. Finally, Tudor Pickering lowered shares of Statoil ASA from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Statoil ASA presently has an average rating of “Hold” and an average target price of $18.00.
Shares of Statoil ASA (NYSE STO) opened at 19.53 on Friday. The firm’s market cap is $63.24 billion. The company has a 50-day moving average of $18.76 and a 200 day moving average of $17.57. Statoil ASA has a one year low of $15.04 and a one year high of $19.61.
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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