Avior Wealth Management LLC Sells 27,075 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Avior Wealth Management LLC has reduced its holdings in Petroleo Brasileiro S.A.- Petrobras by 66.8%, selling 27,075 shares and now owning 13,434 shares valued at $168,000.
• Several institutional investors have recently adjusted their positions in PBR, with notable increases from Redwood Park Advisors LLC, which raised its stake by 95.6%.
• Equity analysts have downgraded Petroleo Brasileiro's stock ratings, with Zacks Research moving from "strong-buy" to "hold," while the average target price stands at $15.43.

Avior Wealth Management LLC reduced its position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 66.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,434 shares of the oil and gas exploration company's stock after selling 27,075 shares during the period. Avior Wealth Management LLC's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $168,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PBR. Financial Gravity Asset Management Inc. bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at about $29,000. Wayfinding Financial LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at about $32,000. Wealth Preservation Advisors LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter valued at about $34,000. Redwood Park Advisors LLC raised its stake in shares of 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 acquiring an additional 1,810 shares during the last quarter. Finally, City Holding Co. bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter worth about $97,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PBR shares. 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. Bank of America downgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research note on Monday, June 9th. Finally, UBS Group dropped their target price 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $15.43.

Petroleo Brasileiro S.A.- Petrobras Stock Down 0.4%

Shares of NYSE:PBR opened at $12.61 on Thursday. Petroleo Brasileiro S.A.- Petrobras has a one year low of $11.03 and a one year high of $15.34. The company has a 50 day moving average of $12.54 and a 200-day moving average of $12.42. 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 cap of $81.23 billion, a price-to-earnings ratio of 5.89 and a beta of 0.86.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last issued its quarterly 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). Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%.The business had revenue of $21.04 billion for the quarter, compared to analyst estimates of $20.78 billion. On average, sell-side analysts forecast that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, August 25th will be issued a dividend of $0.0739 per share. The ex-dividend date is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras's payout ratio is currently 48.13%.

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.

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