Atria Investments Inc Lowers Position in Petroleo Brasileiro S.A.- Petrobras $PBR

Atria Investments Inc lowered its stake in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 16.7% during the second quarter, HoldingsChannel.com reports. The firm owned 27,814 shares of the oil and gas exploration company’s stock after selling 5,588 shares during the period. Atria Investments Inc’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $348,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. GQG Partners LLC grew its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 8.0% during the 1st quarter. GQG Partners LLC now owns 256,098,882 shares of the oil and gas exploration company’s stock valued at $3,672,458,000 after buying an additional 18,862,848 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in Petroleo Brasileiro S.A.- Petrobras in the second quarter valued at $148,086,000. Carrhae Capital LLP purchased a new stake in Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at about $64,765,000. Perpetual Ltd increased its stake in Petroleo Brasileiro S.A.- Petrobras by 1.5% during the second quarter. Perpetual Ltd now owns 3,261,657 shares of the oil and gas exploration company’s stock worth $40,803,000 after acquiring an additional 48,400 shares during the last quarter. Finally, Earnest Partners LLC raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 3.0% in the 1st quarter. Earnest Partners LLC now owns 3,242,860 shares of the oil and gas exploration company’s stock worth $46,503,000 after purchasing an additional 93,409 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

NYSE:PBR opened at $13.46 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47. The firm has a 50-day moving average of $12.32 and a two-hundred day moving average of $12.26. The stock has a market cap of $86.71 billion, a P/E ratio of 6.29 and a beta of 0.83. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.03 and a 1-year high of $15.10.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last announced its earnings results on Thursday, November 6th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%.The business had revenue of $23.48 billion for the quarter, compared to analyst estimates of $125.50 billion. On average, research analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, December 26th will be given a $0.1773 dividend. The ex-dividend date of this dividend is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio is presently 47.22%.

Analysts Set New Price Targets

PBR has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Wednesday, October 8th. Zacks Research downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 18th. UBS Group dropped their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a “buy” rating for the company in a research report on Friday, August 22nd. Finally, Wall Street Zen cut shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating in a research report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.90.

Petroleo 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 three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.