Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Holdings Lowered by Foster & Motley Inc.

Foster & Motley Inc. reduced its stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 24.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,834 shares of the oil and gas exploration company’s stock after selling 43,323 shares during the period. Foster & Motley Inc.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,900,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mackenzie Financial Corp boosted its stake in Petróleo Brasileiro S.A. – Petrobras by 2.8% during the 2nd quarter. Mackenzie Financial Corp now owns 1,436,098 shares of the oil and gas exploration company’s stock valued at $20,809,000 after purchasing an additional 39,682 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Petróleo Brasileiro S.A. – Petrobras by 48.8% during the first quarter. Janney Montgomery Scott LLC now owns 65,093 shares of the oil and gas exploration company’s stock valued at $990,000 after buying an additional 21,352 shares in the last quarter. Diversified Trust Co grew its holdings in Petróleo Brasileiro S.A. – Petrobras by 127.1% during the second quarter. Diversified Trust Co now owns 137,141 shares of the oil and gas exploration company’s stock worth $1,987,000 after acquiring an additional 76,752 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Petróleo Brasileiro S.A. – Petrobras by 22.1% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 31,750 shares of the oil and gas exploration company’s stock worth $483,000 after acquiring an additional 5,750 shares in the last quarter. Finally, Creative Planning lifted its holdings in Petróleo Brasileiro S.A. – Petrobras by 31.6% in the 3rd quarter. Creative Planning now owns 155,013 shares of the oil and gas exploration company’s stock valued at $2,234,000 after acquiring an additional 37,181 shares during the last quarter.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

Shares of PBR stock opened at $13.39 on Thursday. The company has a market capitalization of $87.33 billion, a price-to-earnings ratio of 5.40, a P/E/G ratio of 0.20 and a beta of 1.39. Petróleo Brasileiro S.A. – Petrobras has a 1-year low of $12.90 and a 1-year high of $17.91. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 0.70. The stock’s fifty day simple moving average is $14.44 and its 200-day simple moving average is $14.87.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last released its earnings results on Thursday, August 8th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $23.47 billion for the quarter, compared to analysts’ expectations of $24.22 billion. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 28.42% and a net margin of 16.17%. On average, sell-side analysts predict that Petróleo Brasileiro S.A. – Petrobras will post 2.42 earnings per share for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently disclosed a Variable dividend, which will be paid on Friday, November 29th. Investors of record on Friday, August 23rd will be given a dividend of $0.165 per share. The ex-dividend date is Friday, August 23rd. This is an increase from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.03. This represents a yield of 15.4%. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is presently 34.68%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PBR shares. UBS Group dropped their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. upgraded Petróleo Brasileiro S.A. – Petrobras from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $16.50 to $19.00 in a research report on Wednesday, September 25th. HSBC lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. The Goldman Sachs Group cut their target price on Petróleo Brasileiro S.A. – Petrobras from $19.30 to $16.70 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, Morgan Stanley upgraded Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $18.00 to $20.00 in a research report on Monday, August 26th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.20.

Petróleo 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.