Cullen Capital Management LLC Has $32.98 Million Stock Holdings in Petroleo Brasileiro S.A.- Petrobras $PBR

Cullen Capital Management LLC boosted its position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,636,074 shares of the oil and gas exploration company’s stock after acquiring an additional 129,823 shares during the period. Cullen Capital Management LLC’s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $32,977,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the 2nd quarter worth approximately $26,000. Geneos Wealth Management Inc. lifted its position in Petroleo Brasileiro S.A.- Petrobras by 74.9% in 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. Chung Wu Investment Group LLC acquired a new stake in Petroleo Brasileiro S.A.- Petrobras during the second quarter worth $31,000. Wealth Preservation Advisors LLC bought a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at $34,000. Finally, Whipplewood Advisors LLC raised its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 45.7% in the 2nd quarter. Whipplewood Advisors LLC now owns 2,875 shares of the oil and gas exploration company’s stock valued at $36,000 after buying an additional 902 shares in the last quarter.

Petroleo Brasileiro S.A.- Petrobras Price Performance

NYSE:PBR opened at $12.18 on Monday. The firm has a market cap of $78.49 billion, a PE ratio of 5.64, a price-to-earnings-growth ratio of 0.17 and a beta of 0.53. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.03 and a 12 month high of $14.98. The company has a quick ratio of 0.57, a current ratio of 0.82 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $12.30 and its two-hundred day moving average price is $12.41.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) last posted its quarterly earnings data on Friday, November 7th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.03. Petroleo Brasileiro S.A.- Petrobras had a net margin of 16.15% and a return on equity of 23.32%. On average, equities analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, December 26th will be given a $0.0658 dividend. The ex-dividend date is Friday, December 26th. Petroleo Brasileiro S.A.- Petrobras’s payout ratio is presently 47.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a report on Tuesday, December 9th. UBS Group cut their price target on shares of Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a “buy” rating for the company in a research note on Friday, August 22nd. Zacks Research downgraded Petroleo Brasileiro S.A.- Petrobras from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 18th. Finally, Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a “hold” rating to a “buy” rating in a report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Petroleo Brasileiro S.A.- Petrobras currently has a consensus rating of “Moderate Buy” and an average target price of $14.90.

About Petroleo Brasileiro S.A.- Petrobras

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.