Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) Announces Earnings Results, Misses Expectations By $0.06 EPS

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) posted its quarterly earnings data on Monday. The oil and gas exploration company reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06), FiscalAI reports. 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, compared to analysts’ expectations of $26.40 billion.

Petroleo Brasileiro S.A.- Petrobras Price Performance

Shares of PBR stock opened at $19.77 on Friday. The firm has a market capitalization of $127.44 billion, a price-to-earnings ratio of 6.42, a PEG ratio of 0.78 and a beta of 0.38. Petroleo Brasileiro S.A.- Petrobras has a 1 year low of $11.03 and a 1 year high of $22.24. The company has a current ratio of 0.74, a quick ratio of 0.48 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average is $20.15 and its 200-day moving average is $15.72.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

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

Analysts Set New Price Targets

PBR has been the subject of a number of recent research reports. Wall Street Zen raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Sunday, March 22nd. Jefferies Financial Group lowered shares of Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and cut their price target for the company from $20.30 to $19.00 in a research note on Friday, March 13th. Bank of America upgraded Petroleo Brasileiro S.A.- Petrobras from a “neutral” rating to a “buy” rating and raised their target price for the company from $18.70 to $24.80 in a research report on Friday, April 17th. The Goldman Sachs Group increased their price target on Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Finally, Zacks Research raised shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $18.35.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. grew its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 74.9% during the second quarter. Geneos Wealth Management Inc. now owns 2,438 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 1,044 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 264.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,544 shares of the oil and gas exploration company’s stock valued at $54,000 after acquiring an additional 3,296 shares during the last quarter. Inspire Investing LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the fourth quarter valued at $77,000. Redwood Park Advisors LLC lifted its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 60.5% during the fourth quarter. Redwood Park Advisors LLC now owns 6,818 shares of the oil and gas exploration company’s stock worth $81,000 after purchasing an additional 2,570 shares during the period. Finally, Advocate Investing Services LLC bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the fourth quarter worth $147,000.

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.