Kingstone Capital Partners Texas LLC Takes Position in Petroleo Brasileiro S.A.- Petrobras $PBR

Key Points

• Kingstone Capital Partners Texas LLC has made a new investment of approximately $148.09 million in Petroleo Brasileiro S.A.- Petrobras, acquiring 11,556,690 shares, which represents 0.18% ownership in the company.
• Petroleo Brasileiro S.A.- Petrobras reported $0.64 earnings per share for the last quarter, missing analyst expectations of $0.70, despite total revenue of $21.04 billion exceeding estimates.
• The company has recently announced a special dividend of $0.0739 per share, which will be paid on December 30th to shareholders of record on August 25th.

Kingstone Capital Partners Texas LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 11,556,690 shares of the oil and gas exploration company's stock, valued at approximately $148,086,000. Kingstone Capital Partners Texas LLC owned about 0.18% of Petroleo Brasileiro S.A.- Petrobras at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. TrueMark Investments LLC acquired a new position in shares of Petroleo Brasileiro S.A.- Petrobras during the 1st quarter worth approximately $2,678,000. Salem Investment Counselors Inc. raised its position in shares of Petroleo Brasileiro S.A.- Petrobras by 22.1% during the 1st quarter. Salem Investment Counselors Inc. now owns 520,911 shares of the oil and gas exploration company's stock worth $7,470,000 after purchasing an additional 94,165 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth approximately $29,984,000. Banco Santander S.A. grew its stake in Petroleo Brasileiro S.A.- Petrobras by 15.2% in the 1st quarter. Banco Santander S.A. now owns 155,244 shares of the oil and gas exploration company's stock worth $2,226,000 after acquiring an additional 20,462 shares during the period. Finally, Candriam S.C.A. purchased a new stake in Petroleo Brasileiro S.A.- Petrobras in the 1st quarter worth approximately $474,000.

Analyst Upgrades and Downgrades

Several analysts have commented on PBR shares. Zacks Research cut shares of Petroleo Brasileiro S.A.- Petrobras from a "strong-buy" rating to a "hold" rating in a research note on Thursday. 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. Finally, UBS Group lowered their price objective on shares of Petroleo Brasileiro S.A.- Petrobras from $15.80 to $14.40 and set a "buy" rating for the company in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Petroleo Brasileiro S.A.- Petrobras has an average rating of "Moderate Buy" and a consensus target price of $16.14.

Petroleo Brasileiro S.A.- Petrobras Stock Performance

NYSE PBR traded down $0.17 during midday trading on Friday, hitting $12.64. The company had a trading volume of 17,101,935 shares, compared to its average volume of 18,592,866. 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 stock has a market cap of $81.46 billion, a price-to-earnings ratio of 5.91 and a beta of 0.91. The firm has a fifty day simple moving average of $12.45 and a two-hundred day simple moving average of $12.41. Petroleo Brasileiro S.A.- Petrobras has a fifty-two week low of $11.03 and a fifty-two week high of $15.34.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR - Get Free Report) last posted 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 the consensus estimate of $0.70 by ($0.06). The company had revenue of $21.04 billion during the quarter, compared to analyst estimates of $20.78 billion. Petroleo Brasileiro S.A.- Petrobras had a return on equity of 34.11% and a net margin of 15.99%. Equities analysts forecast 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 business also recently announced a special dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, August 25th will be paid a $0.0739 dividend. The ex-dividend date of this dividend is Monday, August 25th. Petroleo Brasileiro S.A.- Petrobras's payout ratio is currently 48.13%.

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.