Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC trimmed its stake in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRFree Report) by 32.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,901 shares of the oil and gas exploration company’s stock after selling 46,765 shares during the period. Orion Portfolio Solutions LLC’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $1,610,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sound Income Strategies LLC purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the 4th quarter worth about $45,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Petróleo Brasileiro S.A. – Petrobras by 40.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 9,901 shares of the oil and gas exploration company’s stock valued at $158,000 after purchasing an additional 2,849 shares during the last quarter. Payden & Rygel Investment Group acquired a new stake in shares of Petróleo Brasileiro S.A. – Petrobras in the third quarter valued at approximately $153,000. Fermata Advisors LLC purchased a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 4th quarter worth approximately $164,000. Finally, Bank of Nova Scotia acquired a new position in shares of Petróleo Brasileiro S.A. – Petrobras during the 3rd quarter worth approximately $162,000.

Petróleo Brasileiro S.A. – Petrobras Trading Up 1.5 %

Shares of PBR opened at $15.56 on Friday. The company’s fifty day moving average is $15.93 and its two-hundred day moving average is $15.98. Petróleo Brasileiro S.A. – Petrobras has a fifty-two week low of $11.47 and a fifty-two week high of $17.91. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.60.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRGet Free Report) last issued its earnings results on Monday, May 13th. The oil and gas exploration company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.09). Petróleo Brasileiro S.A. – Petrobras had a return on equity of 31.07% and a net margin of 22.46%. The firm had revenue of $23.77 billion for the quarter, compared to analysts’ expectations of $24.63 billion. During the same quarter in the previous year, the firm posted $1.11 EPS. Equities analysts predict that Petróleo Brasileiro S.A. – Petrobras will post 3.57 EPS for the current fiscal year.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, June 13th will be given a $0.0288 dividend. This represents a dividend yield of 16%. The ex-dividend date of this dividend is Thursday, June 13th. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is currently 24.42%.

Wall Street Analyst Weigh In

PBR has been the topic of several recent research reports. Bank of America downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research report on Friday, March 8th. HSBC raised shares of 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 research note on Monday, March 25th. UBS Group boosted their price objective on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the company a “buy” rating in a research report on Monday, March 25th. Morgan Stanley lowered shares of Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $20.00 to $18.00 in a research report on Monday, March 11th. Finally, Jefferies Financial Group downgraded Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and cut their price target for the company from $21.20 to $17.70 in a report on Wednesday, May 15th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.33.

Check Out Our Latest Stock Analysis on PBR

Petróleo Brasileiro S.A. – Petrobras Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PBR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRFree Report).

Institutional Ownership by Quarter for Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

Receive News & Ratings for Petróleo Brasileiro S.A. - Petrobras Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Petróleo Brasileiro S.A. - Petrobras and related companies with MarketBeat.com's FREE daily email newsletter.