abrdn plc Sells 70,822 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

abrdn plc decreased its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 20.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,167 shares of the oil and gas exploration company’s stock after selling 70,822 shares during the period. abrdn plc’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $4,522,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Rakuten Securities Inc. bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 4th quarter valued at about $598,000. Aurora Private Wealth Inc. bought a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 4th quarter valued at about $204,000. Beverly Hills Private Wealth LLC boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 19.3% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 17,212 shares of the oil and gas exploration company’s stock valued at $275,000 after purchasing an additional 2,789 shares in the last quarter. NewEdge Wealth LLC boosted its position in shares of Petróleo Brasileiro S.A. – Petrobras by 62.0% during the 4th quarter. NewEdge Wealth LLC now owns 78,184 shares of the oil and gas exploration company’s stock valued at $1,249,000 after purchasing an additional 29,936 shares in the last quarter. Finally, Sapient Capital LLC bought a new position in Petróleo Brasileiro S.A. – Petrobras in the fourth quarter worth approximately $421,000.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

PBR stock opened at $17.05 on Friday. Petróleo Brasileiro S.A. – Petrobras has a twelve month low of $10.01 and a twelve month high of $17.91. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.73 and a current ratio of 0.96. The stock’s 50 day moving average is $15.94 and its 200-day moving average is $15.90.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) last posted its earnings results on Friday, March 8th. The oil and gas exploration company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.15. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 34.44% and a net margin of 24.30%. The company had revenue of $27.11 billion for the quarter, compared to analyst estimates of $26.45 billion. On average, research analysts predict that Petróleo Brasileiro S.A. – Petrobras will post 3.52 EPS for the current year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Monday, April 29th will be given a dividend of $0.2084 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Friday, April 26th. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 12.83%.

Analyst Ratings Changes

Several brokerages have issued reports on PBR. UBS Group increased their price target on Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the stock a “buy” rating in a report on Monday, March 25th. HSBC upgraded Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Monday, March 25th. Bank of America lowered Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a report on Friday, March 8th. Finally, Morgan Stanley lowered Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $20.00 to $18.00 in a report on Monday, March 11th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.76.

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 Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.