Integrated Wealth Concepts LLC Reduces Stock Position in 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 trimmed its position in Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) by 63.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,195 shares of the oil and gas exploration company's stock after selling 103,647 shares during the quarter. 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.

Other hedge funds have also recently made changes to their positions in the company. Quantinno Capital Management LP raised its stake in Petroleo Brasileiro S.A.- Petrobras by 54.1% in the fourth quarter. Quantinno Capital Management LP now owns 31,499 shares of the oil and gas exploration company's stock valued at $405,000 after buying an additional 11,061 shares during the last quarter. State of Wyoming boosted its stake in shares of Petroleo Brasileiro S.A.- Petrobras by 6.2% in the fourth quarter. State of Wyoming now owns 59,523 shares of the oil and gas exploration company's stock worth $765,000 after acquiring an additional 3,450 shares during the last quarter. Waverly Advisors LLC acquired a new stake in shares of Petroleo Brasileiro S.A.- Petrobras in the fourth quarter worth approximately $185,000. Poehling Capital Management INC. raised its holdings in Petroleo Brasileiro S.A.- Petrobras by 0.8% in the 4th quarter. Poehling Capital Management INC. now owns 228,299 shares of the oil and gas exploration company's stock valued at $2,936,000 after acquiring an additional 1,870 shares during the last quarter. Finally, Vise Technologies Inc. boosted its stake in Petroleo Brasileiro S.A.- Petrobras by 5.1% during the fourth quarter. Vise Technologies Inc. now owns 33,916 shares of the oil and gas exploration company's stock worth $436,000 after buying an additional 1,633 shares during the last quarter.

Petroleo Brasileiro S.A.- Petrobras Trading Down 0.7%

NYSE:PBR opened at $12.67 on Friday. The stock's 50 day moving average price is $12.46 and its 200 day moving average price is $12.45. The company has a market capitalization of $81.65 billion, a PE ratio of 5.92 and a beta of 0.91. 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 52-week low of $11.03 and a 52-week high of $15.34.

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 analysts' expectations of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%. On average, research analysts anticipate that Petroleo Brasileiro S.A.- Petrobras will post 2.14 EPS for the current year.

Petroleo Brasileiro S.A.- Petrobras Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, August 25th will be given 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 48.13%.

Wall Street Analyst Weigh In

PBR has been the topic of a number of recent research reports. 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 upgraded Petroleo Brasileiro S.A.- Petrobras from a "hold" rating to a "buy" rating and set a $15.30 price objective on the stock in a report on Thursday, May 15th. Bank of America downgraded Petroleo Brasileiro S.A.- Petrobras from a "buy" rating to a "neutral" rating in a report on Monday, June 9th. Finally, UBS Group cut 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 report on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $16.14.

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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