Todd Asset Management LLC Sells 277,647 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Todd Asset Management LLC cut its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 12.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,918,039 shares of the oil and gas exploration company’s stock after selling 277,647 shares during the period. Todd Asset Management LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $30,631,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PBR. M&T Bank Corp raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 2.6% in the 4th quarter. M&T Bank Corp now owns 26,091 shares of the oil and gas exploration company’s stock worth $417,000 after acquiring an additional 661 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of Petróleo Brasileiro S.A. – Petrobras by 2.7% in the third quarter. Checchi Capital Advisers LLC now owns 25,750 shares of the oil and gas exploration company’s stock valued at $386,000 after purchasing an additional 675 shares during the period. Cerity Partners LLC boosted its holdings in shares of Petróleo Brasileiro S.A. – Petrobras by 7.4% in the fourth quarter. Cerity Partners LLC now owns 12,280 shares of the oil and gas exploration company’s stock worth $196,000 after acquiring an additional 848 shares during the period. Grey Street Capital LLC grew its holdings in Petróleo Brasileiro S.A. – Petrobras by 3.4% during the 4th quarter. Grey Street Capital LLC now owns 26,227 shares of the oil and gas exploration company’s stock valued at $439,000 after buying an additional 858 shares in the last quarter. Finally, Morningstar Investment Services LLC increased its holdings in Petróleo Brasileiro S.A. – Petrobras by 5.7% during the 3rd quarter. Morningstar Investment Services LLC now owns 22,867 shares of the oil and gas exploration company’s stock worth $339,000 after acquiring an additional 1,238 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Price Performance

Petróleo Brasileiro S.A. – Petrobras stock traded down $0.56 during midday trading on Friday, reaching $16.43. The company had a trading volume of 26,048,446 shares, compared to its average volume of 20,169,522. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 0.65. Petróleo Brasileiro S.A. – Petrobras has a 12-month low of $10.03 and a 12-month high of $17.91. The firm’s fifty day simple moving average is $15.88 and its 200-day simple moving average is $15.96.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last announced its quarterly earnings results on Friday, March 8th. The oil and gas exploration company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.15. The business had revenue of $27.11 billion during the quarter, compared to analysts’ expectations of $26.45 billion. Petróleo Brasileiro S.A. – Petrobras had a net margin of 24.30% and a return on equity of 34.44%. On average, analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.6 EPS for the current year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 6th will be paid a $0.3406 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a yield of 16.25%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is presently 21.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PBR shares. Bank of America cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research note on Friday, March 8th. UBS Group lifted their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the company a “buy” rating in a research report on Monday, March 25th. HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Monday, March 25th. Finally, Morgan Stanley lowered shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $20.00 to $18.00 in a report on Monday, March 11th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.76.

Petróleo Brasileiro S.A. – Petrobras Company Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.