Apr. 29, 2014, 4:22 AM
- Statoil's (STO) Q1 net profit jumped to 23.6B Norwegian kroner ($3.94B) from 6.4B kroner a year earlier and slayed consensus of 12.12B kroner. Earnings were boosted by increased gas prices, particularly in the U.S. amid the harsh winter.
- Revenue rose to 169.9B kroner from 162.2B kroner and topped expectations of 162.79B kroner.
- Adjusted earnings +9% to 46B kroner.
- Oil and gas output slipped 1% to 1.978M barrels of oil equivalent a day.
- Proposes a dividend payment of 1.80 kroner a share.
- Shares are +4% in Oslo. (PR)
Feb. 7, 2014, 3:46 AM
- Statoil's (STO) Q4 net operating profit dropped 4% to 43.9B kroner ($7.1B), just below consensus of 44.3B kroner.
- Net income 14.8B kroner vs 13B kroner a year earlier.
- Equity production in 2013 was 1.945M boe per day, 20,000 boe below expectations. Output was 2M boe in 2012.
- Statoil has cut its investment plans for the next three years by over $5B and pushed back its 2020 targets by 3-4 years. Statoil intends to increase investment to $20B in 2014 from $19B in 2013 and then keep that level steady.
- Statoil proposes to increase its dividend to 7 kroner for 2013 from NOK 6.75 in 2012, and it plans to introduce quarterly dividends, subject to shareholder approval. The company also intends repurchase stock "more actively."
- Shares are -1.3% in Oslo. (PR)
Feb. 7, 2013, 4:35 AM
STO vs. ETF Alternatives
Statoil ASA is an integrated oil and gas company. It explores, produces, transports, refines, and markets petroleum and petroleum-derived products. It has operations in Norway, rest of Europe, North America, Africa, Asia and South America.
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