129,305 Shares in Petroleo Brasileiro S.A.- Petrobras $PBR Acquired by DRW Securities LLC

Key Points

• DRW Securities LLC has made a significant investment of approximately $1.85 million in Petroleo Brasileiro S.A.- Petrobras by acquiring 129,305 shares of the company.
• The firm recently reported earnings of $0.64 per share for the quarter, missing analysts' expectations of $0.70, while revenue was $21.04 billion, exceeding expectations.
• Petrobras announced a special dividend of $0.0739 scheduled for payment on December 30th, with a current dividend payout ratio of 48.13%.

DRW Securities LLC bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 129,305 shares of the oil and gas exploration company's stock, valued at approximately $1,854,000.

A number of other hedge funds have also made changes to their positions in PBR. Financial Gravity Asset Management Inc. bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $29,000. Wayfinding Financial LLC bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $32,000. Wealth Preservation Advisors LLC bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $34,000. Redwood Park Advisors LLC grew its holdings in 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 acquiring an additional 1,810 shares during the last quarter. Finally, City Holding Co. bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth about $97,000.

Analyst Ratings Changes

A number of brokerages have commented on PBR. UBS Group decreased their price objective on shares of 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. Zacks Research raised Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. Jefferies Financial Group raised Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 price target for the company in a research note on Thursday, May 15th. Bank of America cut Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research note on Monday, June 9th. Finally, Wall Street Zen upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $16.14.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

Shares of NYSE PBR traded up $0.07 during midday trading on Thursday, hitting $12.38. 19,852,238 shares of the company's stock were exchanged, compared to its average volume of 21,068,723. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.03 and a 12 month high of $15.34. The company's 50 day moving average price is $12.49 and its 200 day moving average price is $12.54. The firm has a market capitalization of $79.76 billion, a PE ratio of 5.78 and a beta of 0.91.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last issued 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 business had revenue of $21.04 billion for the quarter, compared to the consensus estimate of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%. As a group, analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 2.14 earnings per share for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently declared 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 of this dividend is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio (DPR) is presently 47.66%.

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.