Employees Retirement System of Texas Sells 151,599 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Employees Retirement System of Texas cut its Petrobras stake by 69.8% in the fourth quarter, selling 151,599 shares and leaving it with 65,509 shares worth about $776,000.
• Wall Street sentiment on Petrobras is broadly positive, with several recent upgrades and a consensus rating of “Buy”; the average price target stands at $18.35.
• The company also announced a special dividend of $0.1426 per share, payable August 27 to shareholders of record on June 3, while its stock was trading around $18.97.

Employees Retirement System of Texas cut its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 69.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,509 shares of the oil and gas exploration company's stock after selling 151,599 shares during the period. Employees Retirement System of Texas' holdings in Petroleo Brasileiro S.A.- Petrobras were worth $776,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GHP Investment Advisors Inc. bought a new stake in Petroleo Brasileiro S.A.- Petrobras during the 4th quarter worth approximately $26,000. Clearstead Advisors LLC boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 273.4% in the fourth quarter. Clearstead Advisors LLC now owns 2,330 shares of the oil and gas exploration company's stock worth $28,000 after purchasing an additional 1,706 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake 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 in the last quarter. Bayforest Capital Ltd bought a new stake in shares of Petroleo Brasileiro S.A.- Petrobras during the fourth quarter worth $39,000. Finally, BNP Paribas increased its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 241.9% in the third quarter. BNP Paribas now owns 4,240 shares of the oil and gas exploration company's stock valued at $54,000 after buying an additional 3,000 shares in the last quarter.

More Petroleo Brasileiro S.A.- Petrobras News

Here are the key news stories impacting Petroleo Brasileiro S.A.- Petrobras this week:

• Positive Sentiment: Baker Hughes expanded its integrated well construction contract with Petrobras in Brazil’s Santos Basin, a sign that Petrobras’ offshore development program remains active and may benefit from advanced drilling technology and improved execution. Baker Hughes Extends and Expands Integrated Well Construction Contract with Petrobras
• Positive Sentiment: Brokerages now have a consensus “Buy” recommendation on Petrobras, reinforcing the idea that Wall Street remains constructive on the stock’s valuation and cash-generation potential. Petroleo Brasileiro S.A.- Petrobras Receives Consensus Recommendation of Buy from Brokerages
• Positive Sentiment: One bullish view argues Petrobras remains a cheap oil stock with high yield potential, citing low production breakeven costs, leverage to higher Brent prices, and room for strong dividend yields if payouts remain elevated. Petrobras: Cheap Oil Stock With High Yield Potential
• Neutral Sentiment: Several market roundups compared Petrobras with peers and reviewed its year-to-date performance, but these articles were mostly context pieces rather than direct catalysts. Has Petroleo Brasileiro (PBR) Outpaced Other Oils-Energy Stocks This Year?
• Neutral Sentiment: Another comparison article framed Petrobras versus APA on risk/reward, highlighting that investor sentiment toward oil and gas has improved, but without a clear new company-specific catalyst. Petrobras or APA: Which Oil Stock Offers Better Risk Reward?
• Negative Sentiment: A more cautious analysis said Petrobras’ first-quarter results were mixed, with EPS and revenue below consensus and a year-over-year dividend decline, while also pointing to political and debt risks that could temper upside. Petrobras: Why I Disagree With Wall Street

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PBR shares. Wall Street Zen raised Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating in a report on Sunday, March 22nd. Zacks Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 31st. The Goldman Sachs Group boosted their target price on shares of Petroleo Brasileiro S.A.- Petrobras from $13.10 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Bank of America upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "neutral" rating to a "buy" rating and upped their target price for the stock from $18.70 to $24.80 in a research report on Friday, April 17th. Finally, Weiss Ratings raised shares of Petroleo Brasileiro S.A.- Petrobras from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $18.35.

Petroleo Brasileiro S.A.- Petrobras Trading Down 2.2%

PBR stock opened at $18.97 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. Petroleo Brasileiro S.A.- Petrobras has a twelve month low of $11.03 and a twelve month high of $22.24. The company has a market cap of $122.27 billion, a P/E ratio of 6.16, a PEG ratio of 0.77 and a beta of 0.38. The business has a fifty day moving average of $20.48 and a 200-day moving average of $16.23.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.96 earnings per share (EPS) for the quarter. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 23.65% and a net margin of 21.67%.The business had revenue of $23.54 billion for the quarter. As a group, equities research analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 4.72 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, August 27th. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.1426 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. Petroleo Brasileiro S.A.- Petrobras's payout ratio is 10.71%.

About Petroleo Brasileiro S.A.- Petrobras

Petróleo Brasileiro SA – Petrobras is a Brazilian, state-controlled integrated oil and gas company headquartered in Rio de Janeiro. Founded in 1953, Petrobras is principally engaged in the exploration and production of crude oil and natural gas, and operates across the full value chain from upstream activities through refining, transportation and downstream marketing of petroleum products. The company is a major player in Brazil's energy sector and is a listed public company with global capital market presence.

Petrobras's core activities include deepwater and ultra-deepwater exploration and production, where it has been a pioneer in developing pre-salt reserves off Brazil's coast.

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