Petroleo Brasileiro S.A.- Petrobras $PBR Position Increased by Truist Financial Corp

Truist Financial Corp grew its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 83.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,213 shares of the oil and gas exploration company’s stock after purchasing an additional 15,094 shares during the period. Truist Financial Corp’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $415,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Financial Gravity Asset Management Inc. acquired a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $34,000. Redwood Park Advisors LLC lifted its position in Petroleo Brasileiro S.A.- Petrobras by 95.6% in the first quarter. Redwood Park Advisors LLC now owns 3,703 shares of the oil and gas exploration company’s stock worth $53,000 after purchasing an additional 1,810 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at $115,000.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PBR. Wall Street Zen upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research note on Wednesday, October 8th. UBS Group decreased their target price on Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a “buy” rating on the stock in a report on Friday, August 22nd. Finally, Zacks Research downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.43.

Petroleo Brasileiro S.A.- Petrobras Trading Down 0.6%

NYSE:PBR opened at $11.57 on Friday. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.03 and a fifty-two week high of $15.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47. The stock has a market capitalization of $74.56 billion, a PE ratio of 5.41 and a beta of 0.86. The business’s 50-day simple moving average is $12.37 and its 200-day simple moving average is $12.25.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last announced its earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.06). The company had revenue of $21.04 billion for the quarter, compared to analyst estimates of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%. Sell-side analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, August 25th will be paid a dividend of $0.0739 per share. The ex-dividend date of this dividend is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras’s dividend payout ratio (DPR) is currently 48.13%.

Petroleo Brasileiro S.A.- Petrobras 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.