RWC Asset Advisors US LLC Trims Holdings in Petroleo Brasileiro S.A.- Petrobras $PBR

RWC Asset Advisors US LLC lowered its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 5.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,746,493 shares of the oil and gas exploration company’s stock after selling 228,989 shares during the quarter. Petroleo Brasileiro S.A.- Petrobras accounts for approximately 13.5% of RWC Asset Advisors US LLC’s investment portfolio, making the stock its 3rd largest position. RWC Asset Advisors US LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $60,543,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PBR. Ameritas Advisory Services LLC bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth approximately $31,000. Clearstead Advisors LLC raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 273.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company’s stock valued at $28,000 after acquiring an additional 1,706 shares during the last quarter. Geneos Wealth Management Inc. lifted 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 period. Ascentis Independent Advisors acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter worth $51,000. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter worth $54,000.

Petroleo Brasileiro S.A.- Petrobras Stock Up 0.1%

Shares of NYSE PBR opened at $20.15 on Tuesday. The company’s 50 day moving average price is $18.25 and its 200-day moving average price is $18.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.85. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.43 and a 52-week high of $22.24. The company has a market capitalization of $129.85 billion, a P/E ratio of 5.09, a price-to-earnings-growth ratio of 0.79 and a beta of 0.32.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The company also recently announced a special dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, August 25th will be issued a $0.2649 dividend. The ex-dividend date is Tuesday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is presently 10.86%.

Analysts Set New Price Targets

PBR has been the subject of a number of recent research reports. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. JPMorgan Chase & Co. lifted their target price on Petroleo Brasileiro S.A.- Petrobras from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras has a consensus rating of “Moderate Buy” and an average target price of $19.48.

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.