BI Asset Management Fondsmaeglerselskab A S Reduces Stake in Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• BI Asset Management Fondsmaeglerselskab A S has cut its stake in Petroleo Brasileiro S.A.- Petrobras by 47.9%, now holding 49,369 shares valued at approximately $708,000.
• Several large investors have made movements, with notable increases from some, including Redwood Park Advisors LLC, which grew its holdings by 95.6%.
• Petróleo Brasileiro S.A.- Petrobras reported earnings per share of $0.64 for the latest quarter, missing analysts' expectations, and also announced a recent dividend declaration yielding 1,750.0%.

BI Asset Management Fondsmaeglerselskab A S reduced its stake in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 47.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,369 shares of the oil and gas exploration company's stock after selling 45,417 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $708,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PBR. Financial Gravity Asset Management Inc. purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter valued at $29,000. Wayfinding Financial LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth $32,000. Redwood Park Advisors LLC grew its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 95.6% during the 1st 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. Kapitalo Investimentos Ltda grew its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 104.4% during the 4th quarter. Kapitalo Investimentos Ltda now owns 6,663 shares of the oil and gas exploration company's stock worth $86,000 after purchasing an additional 156,663 shares during the period. Finally, Parvin Asset Management LLC purchased a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 4th quarter worth $93,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PBR shares. Zacks Research upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Bank of America lowered Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research report on Monday, June 9th. UBS Group reduced their price target on Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a "buy" rating on the stock in a research report on Friday. Finally, Jefferies Financial Group raised Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 target price on the stock in a research report on Thursday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $16.78.

Petroleo Brasileiro S.A.- Petrobras Stock Up 3.1%

Petroleo Brasileiro S.A.- Petrobras stock opened at $12.3250 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.47. Petroleo Brasileiro S.A.- Petrobras has a 1-year low of $11.03 and a 1-year high of $15.73. The company has a market cap of $79.43 billion, a PE ratio of 5.76 and a beta of 0.85. The stock's 50 day moving average price is $12.57 and its 200 day moving average price is $12.63.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.06). Petroleo Brasileiro S.A.- Petrobras had a net margin of 15.99% and a return on equity of 34.11%. The business had revenue of $21.04 billion during the quarter, compared to analysts' expectations of $20.78 billion. On average, sell-side analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Monday, December 1st. Investors of record on Monday, August 25th will be paid a $0.2471 dividend. The ex-dividend date is Monday, August 25th. This represents a dividend yield of 1,750.0%. Petroleo Brasileiro S.A.- Petrobras's payout ratio is 46.26%.

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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