Generali Investments CEE investicni spolecnost a.s. Purchases 35,000 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Generali Investments CEE increased its stake in Petroleo Brasileiro S.A.- Petrobras by 60.4%, now holding 92,900 shares valued at approximately $1.16 million.
• Petrobras declared a special dividend of $0.0739 per share, to be paid on December 30th, with a payout ratio of 48.13%.
• The company's latest earnings report showed EPS of $0.64, falling short of analysts' expectations, but revenue exceeded estimates at $21.04 billion.

Generali Investments CEE investicni spolecnost a.s. boosted its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 60.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,900 shares of the oil and gas exploration company's stock after purchasing an additional 35,000 shares during the quarter. Generali Investments CEE investicni spolecnost a.s.'s holdings in Petroleo Brasileiro S.A.- Petrobras were worth $1,162,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. GQG Partners LLC raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 8.0% in the first quarter. GQG Partners LLC now owns 256,098,882 shares of the oil and gas exploration company's stock worth $3,672,458,000 after purchasing an additional 18,862,848 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Petroleo Brasileiro S.A.- Petrobras in the second quarter worth $148,086,000. ARGA Investment Management LP increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 0.3% during the first quarter. ARGA Investment Management LP now owns 11,036,110 shares of the oil and gas exploration company's stock valued at $158,258,000 after acquiring an additional 38,312 shares in the last quarter. Carrhae Capital LLP bought a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the first quarter valued at $64,765,000. Finally, Artemis Investment Management LLP increased its holdings in shares of Petroleo Brasileiro S.A.- Petrobras by 30.2% during the first quarter. Artemis Investment Management LLP now owns 3,908,771 shares of the oil and gas exploration company's stock valued at $56,052,000 after acquiring an additional 905,800 shares in the last quarter.

Petroleo Brasileiro S.A.- Petrobras Trading Down 1.5%

Petroleo Brasileiro S.A.- Petrobras stock opened at $12.66 on Wednesday. The business has a 50-day simple moving average of $12.55 and a two-hundred day simple moving average of $12.42. The company has a market cap of $81.59 billion, a P/E ratio of 5.92 and a beta of 0.91. Petroleo Brasileiro S.A.- Petrobras has a 52-week low of $11.03 and a 52-week high of $15.34. 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 (NYSE:PBR - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.06). The firm 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 net margin of 15.99% and a return on equity of 34.11%. Analysts predict that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Announces Dividend

The company also recently declared a special dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, August 25th will be paid 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%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PBR shares. Bank of America downgraded Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a report on Monday, June 9th. 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, UBS Group reduced their price target on Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a "buy" rating for the company in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $15.43.

Petroleo Brasileiro S.A.- Petrobras Company Profile

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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