Integrated Wealth Concepts LLC Sells 103,647 Shares of Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Integrated Wealth Concepts LLC has significantly reduced its stake in Petroleo Brasileiro S.A.- Petrobras by 63.3%, selling over 100,000 shares in the first quarter, leaving them with approximately $863,000 worth of shares.
• Petrobras reported a miss in earnings per share for the last quarter, with actual earnings of $0.64 falling short of the $0.70 expected by analysts, although revenue surpassed expectations at $21.04 billion.
• The firm has announced a special dividend of $0.0739 per share, set to be paid on December 30th, with the ex-dividend date on August 25th, indicating a dividend payout ratio of 48.13%.

Integrated Wealth Concepts LLC lessened its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 63.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 60,195 shares of the oil and gas exploration company's stock after selling 103,647 shares during the period. Integrated Wealth Concepts LLC's holdings in Petroleo Brasileiro S.A.- Petrobras were worth $863,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Clark Capital Management Group Inc. lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 14.9% in the 1st quarter. Clark Capital Management Group Inc. now owns 2,217,527 shares of the oil and gas exploration company's stock worth $31,799,000 after acquiring an additional 287,837 shares during the period. Banque Transatlantique SA acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth $838,000. Federation des caisses Desjardins du Quebec lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 1.4% in the first quarter. Federation des caisses Desjardins du Quebec now owns 112,406 shares of the oil and gas exploration company's stock valued at $1,613,000 after purchasing an additional 1,550 shares during the period. Point72 Europe London LLP acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the first quarter valued at about $9,376,000. Finally, Retirement Planning Co of New England Inc. lifted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 22.3% in the first quarter. Retirement Planning Co of New England Inc. now owns 34,535 shares of the oil and gas exploration company's stock valued at $495,000 after purchasing an additional 6,297 shares during the period.

Petroleo Brasileiro S.A.- Petrobras Price Performance

NYSE:PBR traded down $0.03 during trading hours on Wednesday, reaching $12.91. 19,493,898 shares of the company's stock were exchanged, compared to its average volume of 18,555,776. The company has a market capitalization of $83.20 billion, a P/E ratio of 6.03 and a beta of 0.91. Petroleo Brasileiro S.A.- Petrobras has a 12 month low of $11.03 and a 12 month 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. The business's 50-day simple moving average is $12.45 and its two-hundred day simple moving average is $12.42.

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 earnings per share for the quarter, missing analysts' consensus estimates 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%. Sell-side analysts expect that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current fiscal year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The business also recently announced a special dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, August 25th will be given a $0.0739 dividend. The ex-dividend date is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras's dividend payout ratio is presently 48.13%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PBR. Bank of America cut shares of Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a research note on Monday, June 9th. Zacks Research upgraded shares of Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. 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 report on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $16.14.

Petroleo Brasileiro S.A.- Petrobras 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.