Morningstar Investment Services LLC Acquires 22,640 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Morningstar Investment Services LLC increased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRFree Report) by 99.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,507 shares of the oil and gas exploration company’s stock after purchasing an additional 22,640 shares during the quarter. Morningstar Investment Services LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $729,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Sound Income Strategies LLC bought a new stake in Petróleo Brasileiro S.A. – Petrobras in the 4th quarter valued at $45,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 40.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 9,901 shares of the oil and gas exploration company’s stock valued at $158,000 after acquiring an additional 2,849 shares during the period. Fermata Advisors LLC acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 4th quarter worth approximately $164,000. Blueshift Asset Management LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the fourth quarter worth approximately $166,000. Finally, Bank of Nova Scotia acquired a new position in Petróleo Brasileiro S.A. – Petrobras in the 3rd quarter valued at $162,000.

Petróleo Brasileiro S.A. – Petrobras Stock Down 4.2 %

Shares of PBR opened at $14.54 on Friday. The business has a 50-day moving average of $15.94 and a 200-day moving average of $15.96. Petróleo Brasileiro S.A. – Petrobras has a 1 year low of $12.92 and a 1 year high of $17.91. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.81 and a current ratio of 1.08.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRGet Free Report) last issued its quarterly earnings results on Monday, May 13th. The oil and gas exploration company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.09). Petróleo Brasileiro S.A. – Petrobras had a return on equity of 31.07% and a net margin of 22.46%. The firm had revenue of $23.77 billion during the quarter, compared to analyst estimates of $24.63 billion. During the same quarter last year, the firm posted $1.11 EPS. Equities research analysts anticipate that Petróleo Brasileiro S.A. – Petrobras will post 3.54 EPS for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The company also recently declared a Variable dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, June 13th will be given a dividend of $0.0288 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a yield of 16%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio (DPR) is currently 24.42%.

Analyst Ratings Changes

PBR has been the subject of a number of recent analyst reports. Morgan Stanley downgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $20.00 to $18.00 in a report on Monday, March 11th. Bank of America cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Friday, March 8th. HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Monday, March 25th. Jefferies Financial Group cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and dropped their target price for the stock from $21.20 to $17.70 in a report on Wednesday, May 15th. Finally, UBS Group raised 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 note on Monday, March 25th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.33.

Check Out Our Latest Stock Analysis on PBR

About Petróleo Brasileiro S.A. – Petrobras

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

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