Petroleo Brasileiro S.A.- Petrobras $PBR Shares Sold by Morningstar Investment Management LLC

Morningstar Investment Management LLC decreased its holdings in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 30.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 214,987 shares of the oil and gas exploration company’s stock after selling 92,316 shares during the quarter. Morningstar Investment Management LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $2,548,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PBR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 55.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,852 shares of the oil and gas exploration company’s stock valued at $471,000 after acquiring an additional 11,680 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 7.0% during the first quarter. Focus Partners Wealth now owns 20,631 shares of the oil and gas exploration company’s stock valued at $296,000 after acquiring an additional 1,356 shares during the last quarter. Cresset Asset Management LLC raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 55.9% during the second quarter. Cresset Asset Management LLC now owns 15,683 shares of the oil and gas exploration company’s stock valued at $201,000 after acquiring an additional 5,624 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 797.8% during the second quarter. NewEdge Advisors LLC now owns 18,792 shares of the oil and gas exploration company’s stock valued at $235,000 after acquiring an additional 16,699 shares during the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 35.0% during the second quarter. Quantinno Capital Management LP now owns 53,897 shares of the oil and gas exploration company’s stock valued at $674,000 after acquiring an additional 13,988 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Jefferies Financial Group cut Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and reduced their target price for the company from $20.30 to $19.00 in a report on Friday, March 13th. Bank of America raised Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and increased their target price for the company from $18.70 to $24.80 in a report on Friday, April 17th. Weiss Ratings raised Petroleo Brasileiro S.A.- Petrobras from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. Finally, Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Sunday, March 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras has an average rating of “Buy” and an average target price of $18.35.

Petroleo Brasileiro S.A.- Petrobras Price Performance

NYSE:PBR opened at $19.93 on Monday. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.03 and a one year high of $22.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 0.74. The stock has a market cap of $128.40 billion, a PE ratio of 6.47, a P/E/G ratio of 0.79 and a beta of 0.38. The stock has a 50 day moving average price of $20.45 and a 200 day moving average price of $16.07.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its quarterly earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 EPS for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 23.65% and a net margin of 21.67%.The firm had revenue of $23.54 billion during the quarter. Equities research analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 4.72 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently declared a special dividend, which will be paid on Thursday, August 27th. Investors of record on Wednesday, June 3rd will be issued a $0.1426 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is currently 10.71%.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil’s energy sector and is a listed public company with global capital market presence.

Petrobras’s core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil’s coast.