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Statoil (STO): Q4 net profit +163% to 25.5B kroner ($4.4B) vs. 13.3B kroner consensus. Revs +22%...

Statoil (STO): Q4 net profit +163% to 25.5B kroner ($4.4B) vs. 13.3B kroner consensus. Revs +22% to 173.9B kroner. Q4 boosted by higher oil and gas prices, and an 8.5B kroner gain, mostly related to the sale of a stake in Gassled. Equity output +1.5% to 1.975M barrels of oil equivalents/day, aims to reach 2.5M by 2020. (PR)
Comments (2)
  • If you need a good, safe stock with a high dividend yield, in other words, if you want to sleep well, buy STO. I did it about 6 years ago and have no complaints.
    8 Feb 2012, 01:35 PM Reply Like
  • STO results were great! I am not sure , but perhaps one should be comforted by the fact that the effective tax rate STO had last qurter was around 70%. And the govt of Norway owns about 70% of the shares as well. So I guess roughly speaking the Norwegian govt owns about 90+% of the economics of this business. I suppose the dividends paid to "outsiders" is therefore a relatively small bleed from the govts perspective. So - why do they even bother having publicly traded shares? Is it to have an "acquisition currency"? Does it reduce their borrowing costs? not sure - but if anyone has insights would love to hear.
    8 Feb 2012, 03:29 PM Reply Like
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