Fayez Sarofim & Co. Decreases Holdings in Statoil ASA (STO)

Fayez Sarofim & Co. cut its stake in shares of Statoil ASA (NYSE:STO) by 26.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,761 shares of the oil and gas company’s stock after selling 11,526 shares during the period. Fayez Sarofim & Co.’s holdings in Statoil ASA were worth $542,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in Statoil ASA during the 2nd quarter valued at $132,000. PNC Financial Services Group Inc. raised its stake in Statoil ASA by 17.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,469 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 1,402 shares during the last quarter. Pacad Investment Ltd. raised its stake in Statoil ASA by 8.1% during the 2nd quarter. Pacad Investment Ltd. now owns 10,700 shares of the oil and gas company’s stock valued at $177,000 after buying an additional 800 shares during the last quarter. Ronald Blue & Co. LLC purchased a new stake in Statoil ASA during the 1st quarter valued at $190,000. Finally, Private Advisor Group LLC raised its stake in Statoil ASA by 11.2% during the 1st quarter. Private Advisor Group LLC now owns 11,553 shares of the oil and gas company’s stock valued at $198,000 after buying an additional 1,166 shares during the last quarter. Institutional investors and hedge funds own 5.02% of the company’s stock.

A number of equities research analysts have weighed in on the stock. Deutsche Bank AG upgraded shares of Statoil ASA from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. Tudor Pickering lowered Statoil ASA from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. BidaskClub upgraded Statoil ASA from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Scotiabank set a $17.00 price objective on Statoil ASA and gave the stock a “hold” rating in a research note on Friday, August 25th. Finally, Piper Jaffray Companies set a $16.00 price objective on Statoil ASA and gave the stock a “hold” rating in a research note on Friday, August 25th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Statoil ASA presently has an average rating of “Hold” and an average target price of $18.00.

Shares of Statoil ASA (STO) traded up 0.36% during midday trading on Tuesday, reaching $19.63. The company’s stock had a trading volume of 183,078 shares. Statoil ASA has a 12-month low of $15.04 and a 12-month high of $19.65. The stock has a 50-day moving average of $18.79 and a 200 day moving average of $17.58. The firm’s market capitalization is $63.56 billion.

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

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